Intrusion and Fire Alarm Systems. & middot; Fire Alarm Control Panel. Revenues from peripheral equipment have not been significant. & Dual path radios are required in certain areas such as New York City or L.A. County. In addition, demand for our products is affected by the housing and construction markets. Deterioration of the current economic conditions may also affect this trend. & We are subject to the effects of general economic and market conditions. We do not have any control over these analysts. ITEM 6: SELECTED FINANCIAL DATA. & 2)Working capital is calculated by deducting Current Liabilities from Current Assets. ( See Footnote 2 to the consolidated financial statements. ( The Company has customers worldwide with major concentrations in North America. & Payment for product sales is typically due within 30 and 180 days of the delivery date. Changes to the estimated variable consideration in subsequent periods are not material. & Sales to this customer comprised 10% of net sales during fiscal year ended June 30, 2019. Inventory costs include raw materials, direct labor and overhead. During fiscal year 2020, the Company settled the issue at Appeals. The Company is currently under audit for the fiscal year 2017. The R&D tax credits are recognized as a reduction to income tax expense. & A change in the rate utilized could have a material effect on the amounts reported. Pursuant to the CARES Act, the loan may be forgiven by the SBA. This increase is primarily due to the increase in inventory as described above. & There was no impairment charge for the year ended June 30, 2019. & FS-5 & & NAPCO SECURITY TECHNOLOGIES, INC. Actual results could differ from those estimates. & Intangible assets with definite lives are amortized over their useful lives. Sales to unaffiliated customers are primarily shipped from the United States. & Changes in Internal Control over Financial Reporting. Our authorized capital stock consists of 40,000,000 shares of common stock. & Procedure for Payment of Indemnifiable Amounts. & ( c)& & & & & & & & & & Validity of Agreement. 333-248078) and Form S-8 (File No. The implied volatilities were obtained from publicly available data sources.
