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Napco Security Technologies (NSSC) FY2024 results: revenue $189 million, up 11.1% on the year

Napco Security Technologies, Inc. (NSSC) reported revenue of $189 million for fiscal 2024, the year ended 30 June 2024, up 11.1% on the year before. Net income was $50 million, up 83.6%, and diluted earnings per share $1.34. The figures are the company's own, from the 10-K it filed with the SEC on 29 August 2024.

Revenue
$189 million
+11.1% on the year
FY2017FY2024
Operating margin
28.5%
17.8% a year earlier
FY2017FY2024
Net income
$50 million
+83.6% on the year
FY2017FY2024
Diluted EPS
$1.34
+83.6% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue189170144+11.1%
Cost of revenue87.196.884.4-10.0%
Gross profit10273.259.2+38.9%
Gross margin53.9%43.1%41.2%
Research and development10.89.38.0+15.4%
Selling, general and administrative37.233.632.9+10.7%
Operating income53.830.318.2+77.5%
Operating margin28.5%17.8%12.7%
Pre-tax income56.431.221.8+80.6%
Income tax6.64.12.2+60.2%
Effective tax rate11.6%13.1%10.3%
Net income49.827.119.6+83.6%
Net margin26.4%16.0%13.6%
Diluted EPS$1.34$0.73$0.53+83.6%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow45.424.78.3+83.7%
Capital expenditure1.63.01.5-46.2%
Free cash flow43.821.76.8+101.4%
Free cash flow margin23.2%12.8%4.8%
Cash from investing-3.2-28.3-1.6
Cash from financing-12.8-2.20.2
Depreciation and amortisation1.81.61.4+16.4%
Share-based compensation1.71.51.6+18.4%
Dividends paid13.32.3n/a+476.9%
Dividend per share$0.36$0.06n/a+476.0%
Diluted shares, weighted37m37m37m+0.2%
Shares outstanding at period end37m37m37m+0.3%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity179140114+27.6%
Debt0.00.00.0
Operating lease liabilities5.55.77.1-3.1%
Other liabilities23.420.827.7+12.3%
Total liabilities and equity208167149+24.7%
Fixed assets9.19.37.9-2.5%
Intangible assets3.63.94.3-8.6%
Investments5.45.15.1+5.1%
Cash and equivalents65.336.041.7+81.7%
Receivables31.926.129.2+22.4%
Inventory34.835.140.8-0.7%
Other assets57.651.219.5+12.6%
Total assets208167149+24.7%

10-K for the year ended 30 June 2024, filed 29 August 2024: the filing.