Napco Security Technologies (NSSC) FY2021 results: revenue $114 million, up 12.5% on the year
Napco Security Technologies, Inc. (NSSC) reported revenue of $114 million for fiscal 2021, the year ended 30 June 2021, up 12.5% on the year before. Net income was $15 million, up 97.7%, and diluted earnings per share $0.42. The figures are the company's own, from the 10-K it filed with the SEC on 13 September 2021.
Revenue
$114 million
+12.5% on the year
FY2014FY2021
Operating margin
15.7%
9.9% a year earlier
FY2014FY2021
Net income
$15 million
+97.7% on the year
FY2014FY2021
Diluted EPS
$0.42
+100.0% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
114
101
103
+12.5%
Cost of revenue
63.3
58.5
58.7
+8.2%
Gross profit
50.7
42.8
44.2
+18.4%
Gross margin
44.5%
42.3%
42.9%
Research and development
7.6
7.3
7.2
+5.0%
Selling, general and administrative
25.2
23.7
23.2
+6.4%
Operating income
17.9
10.1
13.8
+78.2%
Operating margin
15.7%
9.9%
13.4%
Interest expense
n/a
n/a
0.0
Pre-tax income
17.9
10.1
13.8
+78.3%
Income tax
2.5
2.3
1.3
+11.2%
Effective tax rate
14.0%
22.5%
9.3%
Net income
15.4
7.8
12.5
+97.7%
Net margin
13.5%
7.7%
12.1%
Diluted EPS
$0.42
$0.21
$0.34
+100.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
23.0
10.3
8.7
+123.1%
Capital expenditure
1.0
1.6
2.0
-37.6%
Free cash flow
22.0
8.7
6.7
+152.9%
Free cash flow margin
19.3%
8.6%
6.5%
Cash from investing
-6.4
-1.6
-2.0
Cash from financing
n/a
1.5
-3.9
Depreciation and amortisation
1.3
1.2
1.1
+3.2%
Share-based compensation
0.4
0.6
0.2
-25.4%
Buybacks
n/a
2.5
4.0
Diluted shares, weighted
37m
37m
37m
-0.5%
Shares outstanding at period end
18m
18m
18m
+0.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
92.4
76.5
70.5
+20.7%
Short-term borrowings
3.9
n/a
n/a
Debt
3.9
3.9
0.0
0.0%
Operating lease liabilities
7.1
7.1
0.0
-0.3%
Other liabilities
15.3
16.9
15.4
-9.9%
Total liabilities and equity
123
104
85.9
+17.3%
Fixed assets
7.8
8.1
7.7
-3.1%
Intangible assets
4.7
5.1
7.2
-8.3%
Investments
5.4
n/a
n/a
Cash and equivalents
34.8
18.2
8.0
+90.7%
Receivables
28.1
22.9
26.0
+22.5%
Inventory
24.9
34.7
29.6
-28.2%
Other assets
16.8
15.4
7.4
+9.1%
Total assets
123
104
85.9
+17.3%
10-K for the year ended 30 June 2021, filed 13 September 2021: the filing.