$NSSC

NAPCO SECURITY SYSTEMS INC

CIK:0000069633|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Revenue:
Total revenue	$ 202,316	$ 181,621	$ 188,820
Cost of Revenue:
Total cost of revenue	82,525	80,591	87,066
Gross Profit	119,791	101,030	101,754
Operating Expenses:
Research and development	13,791	12,581	10,763
Selling, general, and administrative expenses	44,362	42,190	37,173
Litigation settlement cost	16,000
Total operating expenses	74,153	54,771	47,936
Operating Income	45,638	46,259	53,818
Other Income:
Interest income, net	3,587	3,356	2,375
Other income, net	597	454	193
Income before Provision for Income Taxes	49,822	50,069	56,386
Provision for Income Taxes	6,795	6,663	6,568
Net Income	$ 43,027	$ 43,406	$ 49,818
Income Per Share:
Basic (in dollars per share)	$ 1.21	$ 1.2	$ 1.35
Diluted (in dollars per share)	$ 1.2	$ 1.19	$ 1.34
Weighted Average Number of Shares Outstanding:
Basic (in shares)	35,690,000	36,298,000	36,812,000
Diluted (in shares)	35,891,000	36,499,000	37,066,000
Equipment revenue
Revenue:
Total revenue	$ 104,788	$ 95,291	$ 113,071
Cost of Revenue:
Total cost of revenue	73,031	72,795	79,862
Service revenue
Revenue:
Total revenue	97,528	86,330	75,749
Cost of Revenue:
Total cost of revenue	$ 9,494	$ 7,796	$ 7,204

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Cash Flows from Operating Activities
Net Income	$ 43,027,000	$ 43,406,000	$ 49,818,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,208,000	2,276,000	2,163,000
Change in accrued interest on other investments			31,000
Unrealized gain on marketable securities		(177,000)	(56,000)
Realized gain on sales of marketable securities	(407,000)	(56,000)
Charge (recovery) of credit losses	76,000	(7,000)	(99,000)
Change to inventory reserve	(444,000)	643,000	1,691,000
Deferred income taxes	2,371,000	(1,048,000)	(2,776,000)
Stock-based compensation expense	989,000	1,513,000	1,733,000
Changes in operating assets and liabilities:
Accounts and other receivable	(5,943,000)	1,797,000	(5,730,000)
Inventories	2,344,000	7,995,000	(3,255,000)
Prepaid expenses and other current assets	(1,127,000)	1,071,000	(867,000)
Income tax receivable	(1,000)	48,000	2,000
Other assets	11,000	86,000	25,000
Accounts payable, accrued expenses, accrued litigation costs, accrued salaries and wages, accrued income taxes	18,041,000	(4,020,000)	2,688,000
Net Cash Provided by Operating Activities	61,145,000	53,527,000	45,368,000
Cash Flows from Investing Activities
Purchases of property, plant, and equipment	(1,917,000)	(2,116,000)	(1,594,000)
Purchases of marketable securities	(11,370,000)	(12,835,000)	(206,000)
Proceeds from sales of marketable securities	17,236,000	2,556,000
Purchases of other investments			(1,351,000)
Redemption of other investments		26,980,000
Net Cash Provided by (Used in) Investing Activities	3,949,000	14,585,000	(3,151,000)
Cash Flows from Financing Activates
Proceeds from stock option exercises	628,000	54,000	427,000
Dividends paid	(20,334,000)	(13,632,000)	(13,258,000)
Purchase of treasury shares		(36,794,000)
Payment of tax withholdings related to stock option exercises	(1,541,000)	0	0
Net Cash Used in Financing Activities	(21,247,000)	(50,372,000)	(12,831,000)
Net increase in Cash and Cash Equivalents	43,847,000	17,740,000	29,386,000
Cash and Cash Equivalents - Beginning	83,081,000	65,341,000	35,955,000
Cash and Cash Equivalents - Ending	126,928,000	83,081,000	65,341,000
Supplemental Cash Flow Information
Interest paid			14,000
Income taxes paid, net of refunds received	3,505,000	8,427,000	$ 9,330,000
Non-Cash Investing and Financing Transactions
Dividends declared and not paid	$ 5,365,000	$ 4,992,000

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Current Assets
Cash and cash equivalents	$ 126,928,000	$ 83,081,000
Marketable securities	10,637,000	16,095,000
Accounts and other receivable, net of allowance for credit losses of $101 and $25 as of June 30, 2026 and June 30, 2025, respectively	35,975,000	30,108,000
Inventories	30,118,000	29,962,000
Prepaid expenses and other current assets	4,325,000	3,198,000
Total Current Assets	207,983,000	162,444,000
Inventories - non-current	9,256,000	11,313,000
Property, plant and equipment, net	9,238,000	9,233,000
Intangible assets, net	2,990,000	3,287,000
Deferred income taxes	4,105,000	6,476,000
Operating lease - Right-of-use asset	4,906,000	5,188,000
Other assets	190,000	200,000
Total Assets	238,668,000	198,141,000
Current Liabilities
Accounts payable	6,925,000	5,742,000
Accrued expenses	8,546,000	8,712,000
Accrued litigation costs	16,000,000
Accrued salaries and wages	4,484,000	4,398,000
Dividends payable	5,365,000	4,992,000
Accrued income taxes	1,134,000	213,000
Total Current Liabilities	42,454,000	24,057,000
Accrued income taxes	33,000	143,000
Operating lease liability	5,179,000	5,335,000
Total Liabilities	47,666,000	29,535,000
Commitments and Contingencies (Note 13)
Stockholders' Equity
Common Stock, par value $0.01 per share; 100,000,000 shares authorized as of June 30, 2026 and 2025; 39,883,051 and 39,771,035 shares issued; and 35,768,437 and 35,656,421 shares outstanding, respectively.	399,000	398,000
Additional paid-in capital	25,355,000	25,280,000
Retained earnings	221,403,000	199,083,000
Treasury Stock, at cost, 4,114,614 shares as of both June 30, 2026 and June 30, 2025	(56,315,000)	(56,315,000)
Accumulated other comprehensive income	160,000	160,000
Total Stockholders' Equity	191,002,000	168,606,000
Total Liabilities and Stockholders' Equity	$ 238,668,000	$ 198,141,000