Strong 4Q sales lift NAPCO to record year

Lots to smile about: President and CEO Richard Soloway is happy with NAPCO Security Technologies' record-setting sales, and thinks FY2018 will be even better.

NAPCO Security Technologies Inc.
eadquarters: Amityville
Industry: Consumer durables
Nasdaq: NSSC

Reporting Date: Sept. 5, 2017
Reporting Quarter: 4Q FY2017
Quarter Ended: June 30, 2017

Numbers: Net sales for 4Q FY2017 were $25.7 million, up 7 percent from the same quarter last year. Earnings per diluted share for the quarter were 17 cents, off a penny from the 18 cents reported in 4Q FY2016. At the close of its fourth quarter, the company had $3.5 million in cash and cash equivalents, down from the $3.8 million reported in June 2016.

Notes and Quotes: The mixed fourth quarter belies a banner year for the manufacturer of high-tech electronic intrusion security and Internet of Things-connected home, video and fire systems. NAPCO recorded a record $87.4 million in sales over FY2017, up 6 percent over its FY2016 haul, with annual income before taxes increasing 2.5 percent to $6.3 million. President and CEO Richard Soloway credited strong performance in the burgeoning wireless-cellular communicator market and the release of NAPCO’s CA4K Access Control Software Platform. Says Soloway: “As a result of our considerable investment in engineering development and subsequent marketing launches in new product categories, NAPCO has greatly expanded its market potential. We look forward to the future with the confidence that we are well-positioned for exceptional performance in Fiscal Year 2018.” – GZ


Headquarters: Carle Place
Industry: Consumer services
Nasdaq: FLWS

Reporting Date: Aug. 24, 2017
Reporting Quarter: 4Q FY2017
Quarter Ended: July 2, 2017

Numbers: Total revenues increased 2.2 percent in the fourth quarter, to $239.5 million, up from $234.4 million reported in 4Q FY2016. Net income was $8 million, (12 cents per share), compared to a net loss of $11.1 million (17 cents per share) in the same prior-year period.

Notes and Quotes: Excluding gains from the March sale of its Fannie May Confections brand to Italian chocolatier Ferrero, the granddaddy of online floral sales actually took it on the chin: a $7.2 million quarterly loss, 11 cents per share. But its full-year numbers regained some bloom: Total revenues of $1.19 billion, up 1.8 percent from the $1.17 billion reported in FY2016, with earnings-per-share jumping a dime to 65 cents. CEO Chris McCann referenced “solid revenue growth across all three of our business segments (BloomNet Wire Service, Consumer Floral and Gourmet Foods and Gift Baskets)” and the Ferrero deal, telling investors the strong cash flow, “further bolstered by the more than $100 million we recently received from the sale of the Fannie May business, provides us with significant flexibility to enhance our growth through acquisitions.” – GZ


Headquarters: Farmingdale
Industry: Medical technology
Nasdaq: MSON

Reporting Date: Aug. 22, 2017
Reporting Quarter: 4Q FY2017
Quarter Ended: June 30, 2017

Numbers: Net sales up 23 percent, to $7.9 million, over sales reported for the same quarter last year. Domestic sales (up 18 percent over 4Q FY2016) and consumable sales (up 32 percent) both spiked, leading to 23 percent jump in year-over-year fourth-quarter revenues.

Notes and Quotes: A strong finish to a mixed year for the manufacturer of ultrasonic surgical devices. Misonix also reported an increase in annual revenues ($27.3 million, up 18 percent over FY2016) and $3 million-plus boosts in annual domestic and consumable sales. But a $4.4 million increase in annual operating expenses kept the celebration to a minimum, with the company’s net loss actually rising year-over-year from $1.2 million (15 cents per diluted share) to $1.7 million (20 cents) in FY2017. Says President and CEO Stavros Vizirgianakis, who envisions Misonix consumables in 100,000 worldwide surgical procedures by 2020: “We enter the new fiscal year with a strong cash position in excess of $11 million and no long-term debt. We look forward to the opportunities ahead.” – GZ


Headquarters: Stony Brook
Industry: Biotechnology
Nasdaq: APDN

Reporting Date: Aug. 10, 2017
Reporting Quarter: 3Q FY2017
Quarter Ended: June 30, 2017

Numbers: Total revenues $1.8 million, up 175 percent from the $653,000 reported for 3Q FY2016. Net loss $2.6 million (10 cents per share), down from $3.4 million (14 cents) year-over-year. Adjusted EBITDA negative $1.5 million, compared to adjusted EBITDA of negative $2.5 million same quarter last year.

Notes and Quotes: A seemingly lackluster quarter actually continues the momentum for the provider of DNA-focused authentication and anti-counterfeiting technologies, which continues to diversify its global customer base. Worth noting: The revenue spike, including a 99 percent increase over revenues reported in 2Q FY2017 (ended March 31), was attributed primarily to the company’s textiles vertical, long predicted by company exes to be Applied DNA’s golden goose. “In textiles, we see evidence that our technology platform is gaining momentum,” noted CEO James Hayward. – GZ


Headquarters: Long Beach
Industry: Human resources
Nasdaq: PLPM

Reporting Date: Aug. 9, 2017
Reporting Quarter: 2Q FY2017
Quarter Ended: June 30, 2017

Numbers: Total revenue $12.5 million, down from $13.1 million reported for 2Q FY2016. Net income $2 million, up from $1.3 million in the same quarter last year. Adjusted EBITDA $3.4 million, up year-over-year from $2.8 million.

Notes and Quotes: A mixed but largely positive report for the Long Beach provider of international payment, transaction-processing and currency-processing services, which also lowered its net revenue outlook for the year (from as high as $61.5 million to as high as $59 million) but reaffirmed prior guidance on income, adjusted EBITDA and earnings. “Our momentum demonstrates the continued underlying market demand for our multi-currency solutions and the ability of Planet Payment to deliver superior processing solutions to acquirers on a worldwide basis,” noted Chairman and CEO Carl Williams. – GZ


Headquarters: Medford
Industry: Healthcare
Nasdaq: CEMI

Reporting Date: Aug. 9, 2017
Reporting Quarter: 2Q FY2017
Quarter Ended: June 30, 2017

Numbers: Net sales $2.89 million, up 42.2 percent over 2Q FY2016. Total revenues $4.11 million, up 26 percent year-over-year. Quarterly operating loss of $2.18 million, down from $2.39 million in the same quarter last year, and a net loss of $2.17 million (18 cents per diluted share), down from a net loss of $8.35 million (86 cents) a year ago.

Notes and Quotes: After a punishing first quarter, positive steps as the point-of-care diagnostics specialist continues what acting CEO Sharon Klugewicz called Chembio’s “transition strategy,” focused on three key areas: strengthening its core sexually transmitted disease segment, expanding its tropical and fever-disease portfolio and building a global commercial team. – GZ


Headquarters: Melville
Industry: Healthcare
Nasdaq: HSIC

Reporting Date: Aug. 8, 2017
Reporting Quarter: 2Q FY2017
Quarter Ended: July 1, 2017

Numbers: Net sales $3.1 billion, up 6.5 percent over 2Q FY2016. Net income $136.1 million ($1.71 per diluted share), up 13.3 percent over last year’s quarter. Dental ($1.5 billion in quarterly sales), Animal Health ($891.3 million), Medical ($571.4 million) and Tech/Value-Added ($108.5 million) segments all up year-over-year.

Notes and Quotes: Another stellar quarter for Long Island’s publicly traded workhorse, despite a second-quarter litigation settlement of $5.3 million pretax (about 4 cents per diluted share). “We delivered solid earnings-per-share growth as we continue to implement our strategy of growing the business organically and through acquisitions,” noted CEO Stanley Bergman, lauding the progress in all four of the company’s primary verticals. – GZ