NAPCO Security Technologies, Inc., (NASDAQ: NSSC), one of the world's leading suppliers of high performance electronic security equipment for over 30 years, today announced in light of the recent Hurricane Sandy that hit the Northeast portion of the United States, where NAPCO Security Technologies’ corporate headquarters reside, the Company felt compelled to share an update status to stockholders. First and foremost, there are not enough words to describe the carnage the hurricane has brought, especially when it comes to the loss of life. Our prayers and concerns remain with those families that lost loved ones and those that experienced loss of personal property and possessions.
NAPCO thankfully weathered the storm and was virtually unscathed. Our facility did not incur any damage or long-term affects from the storm, although we experienced some power outages early last week and became fully functional by the end of the week.
After discussions with some local dealers, early indications reveal that they expect to be busy in the coming weeks with emergency service calls as a result of damage incurred from the storm. If Hurricane Katrina offers any correlation, the new construction, rebuilding effort will drive the need for security systems for approximately 9-12 months into the future. Further, we were informed that our Starlink 2™ two-way radio alarm system communicator that generates recurring revenue for NAPCO and its dealers, worked extremely well during the storm and power outages, while those without it lost connectivity.
Again, we are deeply saddened by the destruction incurred from Hurricane Sandy and are taking the necessary steps to be prepared to help victims in their rebuilding efforts.If you have further questions or concerns, you can tune into our quarter conference call on Monday, November 12, 2012 at 11:00 am ET. Interested parties may participate in the call by dialing 877-407-8291; international callers dial 201-689-8345 about 5-10 minutes prior to 11:00 AM ET. The conference call will also be available on replay starting at 1:00 PM ET on November 12, 2012 and ending on November 26, 2012. For the replay, please dial 877-660-6853 (replay conference #403083). The access number for the replay for international callers is 201-612-7415 (replay conference #403083).
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