RTTNews | Sep 13, 2021 08:19AM EDT

08:19 Monday, September 13, 2021 (RTTNews.com) - NAPCO Security Technologies, Inc. (NSSC) said it delivered a record-setting performance in fourth quarter as the company generated the highest sales and net income in its history. Recurring service revenues have remained very strong, achieving 43% growth for the fourth quarter from a year ago.

Adjusted EBITDA for the quarter increased 344% to $6.6 million, or $0.36 per share, from $1.5 million, or $0.08 per share, previous year. Net income was a fourth quarter record of $5.0 million, or $0.27 per share, compared to a net loss of $1.9 million, or $0.10 per share.

Net sales increased 54% to $35.4 million from $23.0 million, prior year in which net sales were more severely impacted by the COVID pandemic. Recurring service revenue for the quarter increased 43% to $9.5 million.

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