-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AR2uTGOMMG9ESk7Qgo1xKMgSSvX/GhIOUYKoIaSLGyvebzrV4qVWbhiSDquXNiq8 rXlym1n/ceRWvgLNHhKdBQ== 0000950123-04-011452.txt : 20040928 0000950123-04-011452.hdr.sgml : 20040928 20040928081831 ACCESSION NUMBER: 0000950123-04-011452 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040927 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20040928 DATE AS OF CHANGE: 20040928 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NAPCO SECURITY SYSTEMS INC CENTRAL INDEX KEY: 0000069633 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669] IRS NUMBER: 112277818 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-10004 FILM NUMBER: 041048244 BUSINESS ADDRESS: STREET 1: 333 BAYVIEW AVE CITY: AMITYVILLE STATE: NY ZIP: 11701 BUSINESS PHONE: 5168429400 MAIL ADDRESS: STREET 1: 333 BAYVIEW AVE STREET 2: XXXXXXXXXXXXXXXXXXX CITY: AMITYVILLE STATE: NY ZIP: 11701 8-K 1 y02849e8vk.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 -------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) September 27, 2004 NAPCO SECURITY SYSTEMS, INC. (Exact name of registrant as specified in charter) Delaware 0-10004 11-2277818 - --------------- ------------ ------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 333 Bayview Avenue, Amityville, New York 11701 (Address of principal executive offices) Registrant's telephone number, including area code (631) 842-9400 Check the appropriate box below if the Form 8-K filing is intended to satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) INFORMATION TO BE INCLUDED IN THE REPORT ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION On September 27, 2004, the registrant issued a press release to report results for the quarter and fiscal year ended June 30, 2004. This press release is furnished as Exhibit 99.1. The information in this Current Report on Form 8-K, including the exhibits attached hereto, is furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits: 99.1 Press Release issued by Napco Security Systems, Inc. dated September 27, 2004. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunder duly authorized. NAPCO SECURITY SYSTEMS, INC. ------------------------------------ (Registrant) Date: September 27, 2004 By: /s/ Kevin S. Buchel --------------------------------- Kevin S. Buchel Senior Vice President and Chief Financial Officer EX-99.1 2 y02849exv99w1.txt PRESS RELEASE "Exhibit 99.1" -------------- FOR IMMEDIATE RELEASE CONTACT: Richard Soloway, President Stephen D. Axelrod, CFA Kevin S. Buchel, Senior VP Andria Arena (Media) NAPCO SECURITY SYSTEMS, INC. WOLFE AXELROD WEINBERGER ASSOC. LLC (631) 842-9400 ext. 120 (212) 370-5222; (212) 370-5252 fax e-mail: steve@wolfeaxelrod.com NAPCO TO FILE FORM 10-K TODAY - 4TH QUARTER AND FULL YEAR CONSOLIDATED RESULTS INCLUDED IN THIS RELEASE- -NAPCO TO PRESENT EXTENSIVE LINE OF NEW PRODUCTS AT ASIS 50TH ANNUAL SEMINAR AND EXHIBIT- AMITYVILLE, NEW YORK - SEPTEMBER 27, 2004 -- NAPCO SECURITY SYSTEMS, INC., (NASDAQ: NSSC), one of the world's leading suppliers of high performance electronic security equipment for over 30 years, announced that it will be filing its Form 10-K today. In addition the Company has included a supplemental schedule to this release disclosing consolidated statements of income for the 4th quarter and years ended June 30, 2004 and 2003. NAPCO also noted that it will be exhibiting at the September 27th-29th, 2004 Dallas, TX ASIS International (ASIS) show. The ASIS show is the largest in the world devoted to industrial and commercial security showcasing products and services to its membership of more than 33,000 security professionals. NAPCO will be presenting a number of new products including: - Continental Instruments' new Turbo Superterm-8 expandable intelligent controller capable of supporting all access control functions for one to eight doors and networking to the largest building access control systems, - the new NAPCO Internet Video product line VCAM-I Network/IP Video Camera and ViP-GATEWAY Universal 4-Camera IP Module which puts commercial and residential users online with fast broadband internet video that permits up to four analog video cameras to view the inside and outside of buildings on any PC or video cell phone, - The Alarm Lock Systems new Trilogy(R) PL3000 , designed especially for vandal-resistant applications. The ProxLock (Proximity Lock) accepts up to 2000 Prox ID's and is weatherproof for both indoor and outdoor applications. The PL3000's versatility allows the user to program up to 500 lock/unlock events and set individual access and authority level through a user-friendly Windows-based PC software platform, - Alarm Lock is also adding to its leading line of innovative pushbutton access locks with the introduction of the Trilogy(R) DL4100 Electronic Digital Privacy Lock which insures the user total privacy once the lock is engaged. "NAPCO is repeatedly developing new, innovative, state-of-the-art security products and solutions for the industrial, commercial and governmental user. These products, as demonstrated by the exciting new products mentioned above, as well as others that we will be showing at the ASIS show in Dallas on the 27th-29th of September, will gain additional recognition for NAPCO as a leader in the security field. By delivering more value to our customers we will ultimately deliver more value to our shareholders," Mr. Richard Soloway, President and CEO, stated. NAPCO SECURITY SYSTEMS, INC. is one of the world's leading manufacturers of technologically advanced electronic security equipment including burglary and fire alarm systems, access control products and electronic locking devices. The Company's products, including those of Alarm Lock and Continental Instruments, feature some of the most popular and best-selling control panels, sensors, locking devices and access control systems. They are used in residential, commercial, institutional, industrial and governmental applications. NAPCO security products have earned a reputation for technical excellence, reliability and innovation, poising the Company for revenue growth in the rapidly expanding electronic security market, a market whose current size exceeds $25 billion. For more information on NAPCO and its subsidiaries, please visit the Company's web site at: www.napcosecurity.com. This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company's filings with the Securities and Exchange Commission. TABLES FOLLOW: NAPCO SECURITY SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (IN THOUSANDS, EXCEPT PER SHARE DATA)
Years Ended Three Months Ended ----------- ------------------ 6/30/04 6/30/03* 6/30/04 6/30/03* -------- -------- -------- -------- Net sales ................ $ 58,093 $ 57,340 $ 18,887 $ 18,350 Cost of Sales ............ 38,553 41,939 11,504 13,062 -------- -------- -------- -------- Gross Profit ............. 19,540 15,401 7,383 5,288 Selling, General and Administrative expenses 13,475 13,176 3,530 3,263 -------- -------- -------- -------- Operating Income ......... 6,065 2,225 3,853 2,025 -------- -------- -------- -------- Other Income (Expense): Interest Expense, net . (420) (727) (89) (150) Other, net ............ (109) 127 (43) 9 -------- -------- -------- -------- (529) (600) (132) (141) -------- -------- -------- -------- Income Before Income Taxes 5,536 1,625 3,721 1,884 Provision For Income Taxes 2,201 615 1,566 700 -------- -------- -------- -------- Net Income ............... $ 3,335 $ 1,010 $ 2,155 $ 1,184 ======== ======== ======== ======== Earnings Per Share: Basic ................. $ 0.50 $ 0.15 $ 0.32 $ 0.19 Diluted ............... $ 0.47 $ 0.14 $ 0.30 $ 0.18
* The three months and year ended June 30, 2003 are restated to reflect the effect of a 2:1 stock split effective April 2004. ### -----END PRIVACY-ENHANCED MESSAGE-----