By Colin Kellaher
NAPCO Security Technologies shares jumped nearly 20% Monday after the maker of security equipment turned in its best-ever fiscal first-quarter performance.
Shares of the Amityville, N.Y., company were recently changing hands at $22.31, up about 19%.
NAPCO reported a profit of $10.5 million, or 28 cents a share, for the quarter ended Sept. 30 amid a 6% rise in sales to $41.7 million, setting company records for first-quarter sales and earnings, and topping Wall Street’s expectations for earnings of 21 cents a share and sales of $40.9 million.
The company also noted that its recurring-revenue annual run rate rose to $72.5 million based on October recurring revenue, compared with $67 million based on July results.
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