0001144204-14-056809.txt : 20140919 0001144204-14-056809.hdr.sgml : 20140919 20140919095131 ACCESSION NUMBER: 0001144204-14-056809 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140918 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140919 DATE AS OF CHANGE: 20140919 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NAPCO SECURITY TECHNOLOGIES, 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: 141111154 BUSINESS ADDRESS: STREET 1: 333 BAYVIEW AVE CITY: AMITYVILLE STATE: NY ZIP: 11701 BUSINESS PHONE: 631-842-9400 MAIL ADDRESS: STREET 1: 333 BAYVIEW AVE STREET 2: XXXXXXXXXXXXXXXXXXX CITY: AMITYVILLE STATE: NY ZIP: 11701 FORMER COMPANY: FORMER CONFORMED NAME: NAPCO SECURITY SYSTEMS INC DATE OF NAME CHANGE: 19920703 8-K 1 v389522_8k.htm 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 18, 2014

NAPCO SECURITY TECHNOLOGIES, INC.

(Exact name of registrant as specified in charter)

Delaware

0-10004

11-2277818

(State or other jurisdiction of

incorporation)

(Commission File Number)

(IRS Employer Identification No.)

333 Bayview Avenue, Amityville, New York 11701

(Address of principal executive offices)

Registrant's telephone number, including area code (631) 842-9400

____________________________________________________

(Former name and former address if changed from last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously 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))

Item 8.01. OTHER EVENTS

On September 18, 2014, the registrant issued a press release announcing that its Board of Directors authorized the company to repurchase up to 1,000,000 shares of its common stock. This press release is furnished as Exhibit 99.1.

The maximum amount that the Company will spend to purchase shares under the repurchase program is $5,500,000. The program shall expire no later than June 29, 2017.

Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits:

99.1 Press Release issued by Napco Security Technologies, Inc. dated September 18, 2014.

SIGNATURE

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 TECHNOLOGIES, INC.
	(Registrant)

Date: September 19, 2014	By:	/s/ Kevin S. Buchel
		Kevin S. Buchel
		Senior Vice President and Chief Financial Officer

EX-99.1 2 v389522_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

NAPCO ANNOUNCES PLAN TO BUY BACK UP TO 1,000,000 OF ITS OUTSTANDING SHARES

Amityville, NY, September 18, 2014 -- NAPCO Security Technologies, Inc. (Nasdaq:NSSC) one of the world's leading solutions providers and manufacturers of high-technology electronic intrusion security, connected home, school lockdown systems, video and fire systems, as well as enterprise-class access control and door locking products, announced today that its board of directors has authorized the repurchase of up to 1 million of the approximately 19.4 million shares outstanding.

NAPCO said the repurchase will be made from time to time in the open market or in privately negotiated transactions subject to market conditions and the market price of the common stock.

NAPCO CEO Richard Soloway stated, “Our growing portfolio of exciting new products including those with recurring revenue, and NAPCO’s established and loyal distribution network are just a few of several factors that could result in accelerating growth going forward. In view of the Company’s prospects, NAPCO’s board of directors believes that at current prices the repurchase of shares is an attractive use of the Company’s capital.”

Soloway concluded, “With our share repurchase program announcement today, we reaffirm our confidence and optimism in the long-term future of the Company and our continued commitment to increase shareholder value.”

About NAPCO Security Technologies, Inc.

NAPCO Security Technologies, Inc. is one of the world's leading solutions providers and manufacturers of high-technology electronic security, connected home, video, fire alarm, access control and door locking systems. The Company consists of four Divisions: NAPCO, its security and connected home segment, plus three wholly-owned subsidiaries: Alarm Lock, Continental Instruments, and Marks USA. Headquartered in Amityville, New York, its products are installed by tens of thousands of security professionals worldwide in commercial, industrial, institutional, residential and government applications. NAPCO products have earned a reputation for innovation, technical excellence and reliability, positioning the Company for growth in the multi-billion dollar and rapidly expanding electronic security market. For additional information on NAPCO, please visit the Company's web site at http://www.napcosecurity.com.

Safe Harbor Statement

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.