Napco’s Emphasis on RMR Is Paying Off Despite Dip in Q4 Sales | #Verdafero #Integrators #NAPCO #RMR | Prior to the pandemic, Napco had 23 consecutive quarters of record sales. CEO Soloway says his vision is to get all equipment to generate RMR.
During a fourth-quarter earnings call Tuesday, Napco President and CEO Richard Soloway told investors although fiscal year 2020 equipment sales were impacted by the COVID-19 pandemic, the company was beginning to see a pickup in its business as dealers and integrators gain more access to install equipment as businesses continue to reopen.
Net sales for the quarter decreased 22% to $23 million as compared to $29.6 million for the same period last year. Net sales for the fiscal year decreased 2% to $101.4 million as compared to $102.9 million for the same period last year.