Item 5. Market for Registrant’s Common Equity
ITEM 5: MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
Principal Market
NAPCO’s Common Stock is traded on the NASDAQ Stock Market, Global Market System, under the symbol NSSC.
Approximate Number of Security Holders
The number of holders of record of NAPCO’s Common Stock as of September 7, 2023 was 59 (such number does not include beneficial owners of stock held in nominee name).
Dividend Information
On May 5, 2023, the Company’s Board of Directors declared a cash dividend of $.0625 per share payable on June 12, 2023 to stockholders of record on May 22, 2023.
On August 18, 2023, the Company’s Board of Directors declared a cash dividend of $.08 per share payable on September 22, 2023 to stockholders of record on September 1, 2023.
Equity Compensation Plan Information as of June 30, 2023
NUMBER OF SECURITIES
NUMBER OF SECURITIES
WEIGHTED AVERAGE
REMAINING AVAILABLE FOR
TO BE ISSUED UPON
EXERCISE PRICE OF
FUTURE ISSUANCE (EXCLUDING
EXERCISE OF
OUTSTANDING
SECURITIES REFLECTED IN
OUTSTANDING OPTIONS
OPTIONS
COLUMN (a)
PLAN CATEGORY
(a)
(b)
Equity compensation plans approved by security holders (1):
678,880
$
19.21
988,100
Equity compensation plans not approved by security holders:
—
—
—
Total
678,880
$
19.21
988,100
(1) In August 2022, the stockholders approved the 2022 Employee Stock Option Plan which authorizes the granting of awards, the exercise of which would allow up to an aggregate of 950,000 shares of the Company’s common stock to be acquired by the holders of such awards. In May 2020, the stockholders approved the 2020 Non-Employee Stock Option Plan which authorizes the granting of awards, the exercise of which would allow up to an aggregate of 100,000 shares of the Company’s common stock to be acquired by the holders of such awards. In December 2018, the stockholders approved the 2018 Non-Employee Stock Option Plan which authorizes the granting of awards, the exercise of which would allow up to an aggregate of 100,000 shares of the Company’s common stock to be acquired by the holders of such awards. In December 2012, the stockholders approved the 2012 Employee Stock Option Plan which authorizes the granting of awards, the exercise of which would allow up to an aggregate of 1,900,000 shares of the Company’s common stock to be acquired by the holders of such awards. In December 2012, the stockholders also approved the 2012 Non-Employee Stock Option Plan which authorizes the granting of awards, the exercise of which would allow up to an aggregate of 100,000 shares of the Company’s common stock to be acquired by the holders of such awards.
Table of Contents
ITEM 6: SELECTED FINANCIAL DATA.
The table below summarizes selected financial information. For further information, refer to the audited consolidated financial statements and the notes thereto beginning on page FS-1 of this report.
Fiscal Year Ended and at June 30,
(In thousands, except share and per share data)
2023
2022
2021
Statement of earnings data:
Net Sales
$
169,997
$
143,593
$
114,035
Gross Profit
73,233
59,156
50,748
Operating Income
30,325
18,225
17,932
Net Income
27,127
19,599
15,413
Cash Flow Data:
Net cash flows provided by operating activities
24,700
8,332
22,987
Net cash flows used in investing activities
(28,262)
(1,563)
(6,429)
Net cash flows (used in) provided by financing activities
(2,213)
155
—
Per Share Data:
Net earnings per common share:
Basic
$
0.74
$
0.53
$
0.42
Diluted
$
0.73
$
0.53
$
0.42
Weighted average common shares outstanding:
Basic
36,741,000
36,725,000
36,696,000
Diluted
37,005,000
36,867,000
36,808,000
Cash Dividends declared per common share (2)
$
0.0625
$
—
$
—
Balance sheet data:
Working capital (1)
$
111,673
$
93,142
$
75,391
Total assets
166,654
148,576
122,551
Long-term debt
—
—
1,518
Stockholders' equity
140,169
113,791
92,388
(1) Working capital is calculated by deducting Current Liabilities from Current Assets.
(2) The Company announced the initiation of a quarterly dividend program with the first dividend of $.0625 per share to be paid on June 12, 2023, to shareholders of Record on May 22, 2023.