NAPCO Security Systems, Inc. to Present at the Maxim Group Growth Conference.
Management to also Review Organic Growth Opportunities
AMITYVILLE, N.Y. -- NAPCO Security Systems Inc. (Nasdaq: NSSC) one of the world's leading suppliers of high performance electronic security equipment for over 30 years, today announced that management will be presenting at the annual Maxim Group Growth Conference on Tuesday, October 7, 2008, at 4:00 p.m. ET. The conference will be held at the Grand Hyatt Hotel in New York, New York. Management will discuss the Company's business structure, including its recent acquisition of Marks USA, financial overview, new product offerings and market opportunities.
"We are very pleased to participate in this year's Maxim Group Growth Conference," stated Mr. Richard Soloway, Chairman and CEO. "We believe it is an opportune time to present NAPCO's exciting story, especially since we've recently completed a major acquisition of Marks USA, which when combined with NAPCO will catapult our revenues towards the $100 million mark. Marks USA, a long established privately-held company, is located in Amityville, New York and is a leading independent manufacturer of industrial, commercial and institutional door locking technology products. Yearly revenue for its fiscal year ended July 31, 2008 approximates $25 million. Management anticipates that the acquisition will immediately be accretive to NAPCO's per share results."
Soloway added, "Marks USA product line complements the broad range of security systems products offered by NAPCO with very little overlap giving us the opportunity to cross sell our products to Marks USA's customers. As is the case with our previous acquisitions of Alarm Lock and Continental, we expect Marks USA to be integrated seamlessly into NAPCO and enhance the combined company's growth opportunities."
Other growth drivers for the NAPCO Group are the reoccurring revenue generating iSeeVideo[TM] (patent pending), an internet-based video surveillance system, that allows homeowners and business people to remotely view live video or stored video "clips" of activities in their homes or businesses from any computer or web-enabled cell phone or mobile device anywhere in the world and the expanded NAPCO Freedom[TM] 64 (patented), a burglar and fire alarm panel platform with wireless and hardwire capability and expandability from 8 to 64 zones, now featuring a choice of two multifunction talking keypads, traditional numeric or codeless. The Company believes the new Freedom traditional digital coded keypad ideally rounds out the Freedom 64 line, now poised to potentially become among the market's most user-friendly and installer-friendly intrusion alarm systems. These new products have been well-received in the trade press and appear to be gaining increasing traction with NAPCO's dealer base.
Mr. Soloway concluded, "As one of the very few remaining publicly-traded companies that offer a complete line of security products and systems, and whose business is totally devoted to those activities, NAPCO offers investors an opportunity to invest in a company that is financial sound, growing and a pure play security industry investment opportunity."
About NAPCO Security Systems, Inc.
NAPCO Security Systems, Inc. is one of the world's leading manufacturers of technologically advanced electronic security equipment including intrusion and fire alarm, access control and door locking systems. The Company consists of NAPCO plus three wholly owned subsidiaries, Alarm Lock, Continental Instruments, and Marks USA. The products are installed by security professionals worldwide in commercial, industrial, institutional, residential and government applications. NAPCO products have earned a reputation for technical excellence, reliability and innovation, posing the Company for revenue growth in the rapidly expanding electronic security market whose current size exceeds $30 billion.
For additional information on NAPCO, please visit the Company's web site at www.napcosecurity.com.
For additional information on Marks USA, please visit the Company's website at www.marksusa.com.
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.