Napco Stocks Soar, Rebound From Accounting Errors Incident
Napco's stock plummeted 40% three months ago, but now it has rebounded significantly, with its newest quarterly results, though far from fully.
For background, see Napco Execs Explain Restatement, Address Stock Price Plunge, and, in this note, we examine their 3rd calendar quarter results and how they are now partnered with a mega security industry distributor.
Stock ******
** *** *** ***** ********* *** newest ******* (******** ***, ****), *** stock *** ** **** **%:
*******, *** ***** ** ***** **** roughly **% ***** *** ********** ****** were *********:
Previous ********** ***, ***** ********
***** ***** ** *** ***** ******* that ** ********* *** ******** ********** firm,***** *****, *** *************** *** *** **********, ********* ************** **, ****:
*** ***** ********* ** *** ***** of ********* ** *** ******* *** approved *** ********** ** ******** & Touche *** ** *** *******'* *********** registered ****** ********** **** *** *** fiscal **** ********** **, ****, ******* ** *** ********* ** an ********** ******.
*** ********* **** ** ********'* *********** will ** *********** ********* *** ****** of *** *******'* **** **-* *** the ******* *************** **, ****. ** ********** ********,the ********* ********* ***** ***** ** *** *******'* *********** ********** ****** ********** **** as of the aforementioned effective date. [Emphasis added]
Spending ***** $* ******* ** **********/********* ********** *********
*****'* *** ***** ****** **** ********* in *** **** ****** ******** **** that ** *** ***** * ********** firm ** ******** ** *** *** accountant ** **** **** ******** *** internal ********:
**hired * ********** **** to work with us to get our procedures and policies and internal controls to be perfect, so that we don’t have any weaknesses or no deficiencies. They will be working hand in hand with Deloitte. [Emphasis added]
*** ******* ******** **** ** ******* this ****** **** **** ** ** $1 ******* ** *** ****** ****, Buchel ****:
** ** *** ******* **from ******* ******* *** ********* *********, ** **** ******** ** $* ******* **** **** **** **’** **** – up to $1 million. All well worth it, and we’re looking forward to working closely with both Deloitte and our consulting firm. [Emphasis added]
Changed ***-**-******* ********** **********
**** *** *** ********** **** *** accountant, ***** ** ********** * ********* procedure ** ********* ******** *****, ***** was *** ***** ** *** ********** error ******* **** ****, ****** ****:
*** ********** ** *** *** ** the ******* *** ********* **** ** was ** *** ****. ** ********* price ******* ** *** ***** ***** that **** ** *** *** *********. We ******* ** ** **** ** had. ** ***** *** *** *******, we ****** **. ** ** *** same ***** ** ******* ** * test *****, *** ** ******** ** investigate *** ******* **** ***** **** occurred.
Supply ***** "*****" ** ****"
***** ********** **** *** "*****" ** the ****** ***** ****** ******* ** "over," ** **** *** ****** ** see ******** **** ************ **** ****** its ********** *********** *** **** ** is ********** ** ********* ***** ** make *** ***** ************ ******* **** efficient, ** ****** ****:
** ****’* *** ****** *** ******* in **** **** *******. ** ****’* expect ** *** *** ******* ** the ****** ***** ******. *** ***** that ** ******* **** ** ** over. *** ****’* ****** **** ****** these ******* ** ******* ** *** last ****. *** ** ***** ***** it, *** ** *** ********* ** a ****** **** **** ** * lot ** **** ******* *** ** a **** ********* *******, *** ** expect **** ** ** **** ** Q3.
Picking ** *** ***********
*****'* *** ******* ******* **** **** investors **** *** ******* ** ********** with "*** ** *** ******* ***** product ************" ** *** **:
** ********** ********* ** **** ******* was *** ********** **** *** ** the ******* ***** ******* ************ ** the *.*.*. **** **** *** ******** across *** ******* ** ******* ***** dealers, ****** ***********, *** ******* *************, and **** **** *** ************, *** distribution ******* ******* ** **** *** locations.
******* **** **** *** *** *********** adds ** *** *******'* ******** *********** dealer ******** *** ** *** ******* in *** ********:
*** *** ************ ****** ** ******* distributor, ***** ** *** ******* ** the ********. *** ** **** ** us ** *** **** *** **** in *** ***** *** ****, ** would **** ** ** **** ** market **** ********. ** **** * great ******* ********** *** *.*.*. **** have *** ******** *** ***** *** guys, *** ** **** ** * great ******** *** ***. **** **** a *** ** ********* ***** **** are *** **** ** ***’* ****.
** **** ************* **,*** *******, *** independent ******** ****** *** *** ***** companies *** ****** *********** *********. ** this *** *********** *** ********** ********* that **** *** ***** ** ***** to ** ** **** *** ********.
******* **** **** *** ********** ** going ** **** ****** *** ***** inventory:
******* ** * ***** *** ***** distributor **** **** *** ********* ** going ** **** **** *** ******* radio ********* **** ** ****** ** happen. **’** **** ***** ** **** already. ** ****’* ***********.
ADI ****** ** *****'* *********** ****, ******** ****** ** ***
***** *** **** ** *** *** distributor *** *** ********* ******** ** the *******, **** ******** **** ** is *** ******* *** ********** *** ** *****'* distributor ******* ***** ****** ** *** ** *** distributors. *****'* ******** *** **** *** listed *****'* *******.
*** *******,***** ******** ******* *** ** ***** ago, ********** **** *** ******* *** corporate ******'* ******** **** *****'*. ***, even *************** ******* **** *** ***,*** *********** ******** ******** ** ***** part ** ***'* ****** *******. ** * ******, *****'* ******* in **** ** ***** * ****** in *****'* ********.
Financial ******** - **** ****** ***********
***** ***** *** * ******** ***** growth ** *% *** ** *** past ******* ** $**.* *******, ** has ******** *** ****** ***********.
***** *** **** ******* * ****** gross ****** ** **%+ ** *** past *** *****, *** ** *** now ******** ** ** **% ** the **** *******. ***** *** *******'* net ****** ****** ********* **** two ***** *** ** ~**% ** the **** *** *****, *** ****** has ******** ** **% ** *** past *******.
EBITDA **** ******* ***** ***********
********* *** *** ********** *********** ******* this ****, ***** ******* *** ******** EBITDA **** ** *** **** ***** years **** **% ** **.*%:
Changed **** ***** ** "**** ****" *****
***** *** ****** ~$*** ******* * year, ************** **** *** **** ***** **** to ***** $*** ******* ** ***** annual ******* *** ~**% ** ****** margin, ***** ******* * **% **** between **** *** ****. ** *** now ******* ***** ***** **** *** "long-term" ****** ******* * ******** ******** and ******* *** ****** ****** ****** to ~**%:
****, **** *** ****.
****** ***** ********* **** ******* **, but ****'** **** ***** *********** ***** the ***** ***** ** *** ** I *** ****. *** ***** ******* lineup ** ****** ******. **** **** come *** ** **** ***** ** one *****.
*** ***** ********* ** *****:
** ** *** **** **** **% less **** ****** *** ********:
****'* * ****** ***** ******** ****.
*****'* ***** *** ** ******* *%+ after *** ****** ****** **** *******:
** ** ***** *** ~**% ******** to *** ***** ****** ********** *** accounting *****: