Napco Announces 1 Mln Share Buyback Authorization

(RTTNews) - Napco Security Technologies, Inc. (NSSC) said Thursday that its board of directors has authorized the repurchase of up to 1 million of the approximately 19.4 million shares outstanding.

The repurchase will be made from time to time in the open market or in privately negotiated transactions subject to market conditions and the market price of the common stock.

Napco CEO Richard Soloway said, "Our growing portfolio of exciting new products including those with recurring revenue, and NAPCO's established and loyal distribution network are just a few of several factors that could result in accelerating growth going forward. In view of the Company's prospects, NAPCO's board of directors believes that at current prices the repurchase of shares is an attractive use of the Company's capital."