According to the Canadian census data there are approximately 15 million homes in the country, thus there is a very large potential market opportunity. The number of citizens with telephone landlines continues to decrease every yeari, similar to what is happening in the US, hence the need for NAPCO’s innovative communication products. Expanding the geographic reach to new markets will help further the growth of these product sales and their recurring revenue streams to NAPCO.
Richard Soloway, CEO of NAPCO commented, “Given the size of the Canadian market and our success in the US market with our cutting edge Starlink cellular communicator technology, the introduction of the Starlink Intrusion Communicators into Canada should lead to stronger Canadian sales as well as further increases in recurring revenue, which grew last quarter by 68%.”
The Starlink Communicator family includes the Intrusion, Fire and Connect. The Fire Communicator is designed for commercial building applications and the Connect Communicator offers intrusion communication features plus IoT services such as lighting, lock, climate control and video. Recurring revenue is generated for NAPCO, via the monthly fee charged to dealers to relay the signal through its network operating center. NAPCO’s recurring revenue stream from the Starlink Intrusion as well as its other Starlink Communicators has seen strong growth over the last few years.
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 (including recurring service fee revenue), IoT connected home, video, fire alarm, access control and door locking systems. The Company consists of four Divisions: NAPCO, its security and IoT 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.
Director of Investor Relations
NAPCO Security Technologies, Inc.
OP: 800-645-9445 x 374
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/napco-security-technologies-announces-starlink-intrusion-communicator-launch-in-canada-300461135.html
SOURCE NAPCO Security Technologies, Inc.