NAPCO Security Technologies announced financial results for the second quarter and first six months ended December 31, 2011.
Net sales for the second quarter remained constant at $17,617,000 as compared to $17,608,000 a year ago.
Adjusted EBITDA for the second quarter increased $290,000, or 25 percent, to $1,437,000 as compared to $1,147,000 for the same period a year ago (see table attached)....
NAPCO Security Technologies announced financial results for the second quarter and first six months ended December 31, 2011.
Net sales for the second quarter remained constant at $17,617,000 as compared to $17,608,000 a year ago.
Adjusted EBITDA for the second quarter increased $290,000, or 25 percent, to $1,437,000 as compared to $1,147,000 for the same period a year ago (see table attached). For the six months ended December 31, 2011 Adjusted EBITDA increased $576,000, or 46 percent, to $1,841,000 from $1,265,000 for the same period a year ago.
Net income for the second quarter increased $152,000 or 97 percent to $309,000, or $0.02 per share, as compared to $157,000, or $0.01, per share for the same period a year ago. Net income for the six months ended December 31, 2011 increased $1,119,000 to $142,000, or $0.01 per share, as compared to $(977,000), or $(0.05), per share for the same period a year ago. Per share results are based on 19,256,000 and 19,176,000 fully diluted weighted average shares for the three and six months ended December 31, 2011, respectively, and 19,096,000 fully diluted weighted average shares for both the three and six months ended December 31, 2010.
Cash generated by operating activities was approximately $0.4 million for the three months ended December 31, 2011 as compared to $1.0 million for the same period a year ago.
Debt, net of cash, has been reduced by $16.2 million from $35.9 million to $19.7 million since acquiring Marks USA in August of 2008.