AMITYVILLE, N.Y., Feb. 9, 2016 ― NAPCO Security Technologies, Inc. (Nasdaq: NSSC) announced today that its innovative LockDown™ access control systems, which operate on NAPCO’s proprietary wireless technology platform, have been installed in more than 75 schools, colleges and universities across 24 states. These institutions—both large and small such as Pepperdine University, College of DuPage, the Los Angeles Unified School District and the South Carolina School for the Deaf and Blind—have installed NAPCO’s systems, demonstrating the flexibility of the product offering.
NAPCO President and CEO Richard Soloway said: “The suite of LockDown™ access control systems is uniquely designed to play a significant role protecting students, faculty and administrators in both K-12 and colleges and universities throughout the U.S., providing the utmost flexibility for campuses and budgets of all sizes. Now more than ever before, we can leverage advancements in technology to protect centers of learning from potential harm. Across the country, educational institutions are exploring new ways to secure schools. We are encouraged by these developments and applaud government officials for moving in the right direction on this issue. At NAPCO, we pride ourselves on bringing a best-in-class service offering that protects and, more importantly, accommodates the fiscal and technical needs of our end users.”
Educational institutions are prioritizing the safety of students, faculty, administrators and other employees more than in past decades. According to Bloomberg Business, almost 90% of schools have made security adjustments to their physical plant since 2013. Overall, spending is projected to increase from $2.7 billion to nearly $4.9 billion in 2017. In addition, a number of state and municipal legislative bodies are exploring initiatives to increase funding for school safety as well as require institutions to put safety plans in place. As an example, the Indiana state legislature is debating a measure to provide $50,000 to each school district to improve security. In another example, voters in Albuquerque approved a bond offering that would include $7 million in school security upgrades, including lockdown systems.
Integrating and networking products from NAPCO’s Alarm Lock, Marks and Continental Divisions, the suite of LockDown™ access control systems enables customers to wirelessly control access to and within schools, provide video monitoring and activate lockdown in seconds. During NAPCO’s fiscal second quarter, the Company added new functionality to its Continental access control product to include an app that enables a teacher or administrator to initiate a lockdown from his or her smartphone, receive texts messages of a lockdown in progress and alert early responders.
The Company also offers its school vertical-specific Project LocDown, which incorporates NAPCO’s proprietary School Access-control Vulnerability Index, or S.A.V.I., and audit system. This takes a holistic and active approach in training security dealers and end-user school officials on how to significantly reduce or prevent a mass incident.
About NAPCO Security Technologies, Inc.
NAPCO Security Technologies, Inc. is one of the world's leading solutions providers and manufacturers of high-technology electronic security, including recurring revenue, connected home, video, fire alarm, access control and door locking systems. The Company consists of four Divisions: NAPCO, its security and connected home segment, plus three wholly-owned subsidiaries: Alarm Lock, Continental Instruments, and Marks USA. Headquartered in Amityville, New York, its products are installed by tens of thousands of security professionals worldwide in commercial, industrial, institutional, residential and government applications. NAPCO products have earned a reputation for innovation, technical excellence and reliability, positioning the Company for growth in the multi-billion dollar and rapidly expanding electronic security market. For additional information on NAPCO, please visit the Company's web site at http://www.napcosecurity.com.
Safe Harbor Statement
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.
KCSA Strategic Communications