By Roshan Fernandez
Shares of Napco Security Technologies rose after the company's third-quarter results beat Wall Street expectations and it said it felt well-positioned to deal with tariffs.
Shares climbed 7.8% on Monday, though the Amityville, N.Y.-based company's stock is down 28% year to date.
Tariff policies prompted the electronic-security-equipment manufacturer to institute a price increase on all of its equipment products, Chief Executive Richard Soloway said. Napco, which said its products are primarily manufactured in the Dominican Republic and the U.S., feels it is in a more advantageous spot than its competitors are.
"[We] will continue to monitor the situation and adjust our pricing accordingly," Soloway said.
The company on Monday reported a third-quarter profit for the three months ended March 31 of $10.1 million, or 28 cents a share, compared with $13.2 million, or 36 cents a share, a year earlier.
Analysts polled by FactSet were expecting 27 cents a share.
Revenue fell 10.8% to $44 million compared with a year earlier, just above analyst expectations of $43.1 million.
The company also raised its quarterly dividend to 14 cents a share from the prior 12.5 cents. The new payout, equal to 56 cents a year, represents an annual yield of about 2.2% based on a recent share price of $25.64.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
(END) Dow Jones Newswires
May 05, 2025 11:35 ET (15:35 GMT)
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