August, 2016 Press Releases

August 8th, 2016

Mace Reports Second Quarter 2016 Financial Results

-       Positive net income , up 170%

-       Positive adjusted EBITDA of $101,000 reported for the quarter

-       Adds 46 new accounts in 2016

 

CLEVELAND – August 8, 2016 – Mace Security International Inc. (OTCPINK: MACE) today announced unaudited financial results for the second quarter and six-month period ended June 30, 2016.

 

“Positive momentum continues as the company has grown revenues, its customer base, and has expanded the brand both domestically and internationally,” said Richard Barone, chairman. “As evidenced by our year-to-date results, we remain on track to deliver sustainable, profitable growth for investors in the near term.”

 

Second Quarter/Six Months 2016 Financial Highlights

 

  • Net revenue up 7.1% for quarter; up 21.4% year-to-date
  • Gross profit up 0.2% for quarter; up 19.2% year-to-date
  • Key channels of distribution (sporting goods & consumer) net revenues up 10.8% for the quarter; up 15.1% year-to-date
  • International net revenues up 24.4% for the quarter; up 119.4% year-to-date
  • Selling, general and administrative expenses down 3.1% for the quarter, 6.5% year to date
  • Net income of $41,000 reported for the quarter
  • Adjusted EBITDA of $101,000 reported for the quarter

 

 

Select Consolidated Financial Results, Second Quarter Ended June 30, 2016 and 2015

(in thousands):

 

For the Three Months Ended

June 30,

% of Sales

June 30,

% of Sales

2016

2015

$ Chg

% Chg

Net revenue

$     2,031

100.0%

 $      1,896

100.0%

135

7.1%

Gross profit

         839

41.3%

            837

44.1%

     2

.2%

Selling, general, and administrative expenses

        860

42.3%

            920

48.5%

60

-6.5%

Operating loss           (60)

-3.0%

           (118)

-6.2%

   58

-49.2%

Net income (loss)

        41

2.0%

           (59)

-3.1%

   100

-169.5%

Second Quarter 2016 Operational Highlights

 

Similar to the prior quarters, the company added 21 new customer accounts in the second quarter, including 7 in the “tactical” market. The company continues to grow and expand the brand through strategic distribution and product placement. , “We are just beginning to take full advantage of the power of the Mace Brand. Everything we do at Mace Security International is to elevate the brand and increase our customer base world-wide, said Mace President and CEO John J. McCann.”

 

McCann noted that the company will have three new Mace-branded products in the marketplace before year end, all defense spray products, and include a new pepper gun and two new personal models: Mace Carabiner and Mace Clutch models. “New products like these are just another example of our commitment to keeping people safe,” he said.

 

Conference Call

Mace® will conduct a conference call on Tuesday, August 9, 2016 at 11:00 AM EDT, 8:00 AM PDT to discuss its financial and operational performance for the quarter ended June 30, 2016. The participant conference call number is (877) 719-8065, conference ID: 63132408. A full set of the consolidated financial statements are available on the Mace website. Presentation materials for the conference call will be available Monday, August 8, on Mace’s website under Investor Relations, Shareholder Transcripts & Presentations. A digital recording of the teleconference will be available on the Mace website within 24 hours of the teleconference.

 

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® and Take Down® brands.

 

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. For more information, please visit www.mace.com.

 

Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

john@mace.com

 

Forward-Looking Statements

Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words or phrases “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “projected,” “intend to” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to economic conditions, dependence on management, our ability to compete with competitors, dilution to shareholders, and limited capital resources.

# # # 

 

Mace Security International, Inc.

Condensed Consolidated Balance Sheets

 (Amounts in thousands)

 

ASSETS

June 30,

2016

 

December 31, 2015

Current assets:

(Unaudited)

Cash and cash equivalents

 $          338

 $         446

Restricted cash

Short-term investments

60

2,126

 

60

2,142

Accounts receivable, net

            1,575

 

            1,562

Inventories,  net

            1,776

 

            1,601

Prepaid expenses and other current assets

869

 

              779

Assets held for sale, net

275

 

430

Total current assets

           7,019

 

          7,020

    Plant and equipment, net

             704

 

522

    Other intangible assets

            685

 

            685

Other assets

 868

 

              1,034

Total assets

  $      9,276

 

 $        9,261

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:
Accounts payable  $          329   $             222
Income taxes payable

               59

61

Accrued expenses and other current liabilities

547

695

Total current liabilities

          935

          978

Other liabilities

51

-

Total stockholders’ equity

       8,290

8,283

     Total liabilities and stockholders’ equity $        9,276  $           9,261

 

 

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Three Months Ended June 30, 2016 and 2015

(Unaudited)

(Amounts in thousands)

 

 

2016

 

2015

Net revenue

 $       2,031

 $       1,896

Cost of  revenue

          1,192

1,059

Gross profit

        839

       837

Selling, general, and administrative expenses

          860

920

Depreciation

           39

35

Operating loss

       (60)

       (118)

Interest expense

              (12)

-

Interest income

              35

              69

Loss on sale of short-term investments

              -

              (3)

Other income

-

(9)

Loss from continuing operations before income tax provision

        (37)

(61)

Income tax provision

-

                -

     
Loss from continuing operations

       (37)

       (61)

Income from discontinued operations, net of tax

78

2

Net income (loss)

 $      41

 $       (59)

 

 

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Six Months Ended June 30, 2016 and 2015

(Unaudited)

(Amounts in thousands)

 

 

2016

 

2015

Net revenue

 $       4,110

 $       3,385

Cost of  revenue

          2,454

1,996

Gross profit

        1,656

       1,389

Selling, general, and administrative expenses

          1,832

1,891

Depreciation

           76

71

Operating loss

       (252)

       (573)

Interest expense

              (23)

              (25)

Interest income

              72

              94

Loss on sale of short-term investments

              -

              (16)

Other income

-

312

Loss from continuing operations before income tax provision

        (203)

(208)

Income tax provision

-

                -

     
Loss from continuing operations

       (203)

       (208)

Income (loss) from discontinued operations, net of tax

             84

(34)

Net loss

 $      (119)

 $       (242)

 

 


August 3rd, 2016

Mace Reports First Quarter 2016 Financial Results

-       Net revenue up 39.7%

-       Gross profit  up 48.3%

-       Continued world-wide sales growth

 

CLEVELAND – August 2, 2016 – Mace Security International Inc. (OTCPINK: MACE) today released its unaudited financial results for the first quarter ending March 31, 2016. The release of the Company’s first quarter unaudited financial results was delayed pending release of the Company’s 2015 annual financial statements.  The Company’s unaudited financial statements for the first quarter ended March 31, 2016 and 2015 are available on the OTC Markets’ website.

The Company expects to release second quarter financial results on Monday, August 8, 2016.  The investor call to discuss financial results for the six months ending, June 30, 2016 and 2015, and to take investor questions will be on Tuesday, August 9, 2016.  Investor call details will be provided with the second quarter earnings release.

“The first quarter of 2016 is a continuation of the positive momentum we built in the calendar year 2015. We will continue to strategically focus on sales and operations to build the Mace Brand into the number one brand in personal defense and safety world-wide, said John McCann President and CEO.”

 

First Quarter 2016 Financial Highlights

  • Net revenue up 39.7% for quarter
  • Gross profit up 48.3% for quarter
  • Key channels of distribution  net revenues up 19.8%
  • Company added 22 new accounts in the quarter
  • International sales up 357%

 

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the Company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. For more information, please visit www.mace.com.

 

Contact:
John J. McCann
President and Chief Executive Officer
440-424-5322
john@mace.com 

Forward-Looking Statements

Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words or phrases “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “projected,” “intend to” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to economic conditions, dependence on management, our ability to compete with competitors, dilution to shareholders, and limited capital resources.

# # #

Mace Security International, Inc.
Condensed Consolidated Balance Sheets
 (Amounts in thousands)

ASSETS

March 31,

  2016

 

December 31, 2015

Current assets:

(Unaudited)

Cash and cash equivalents

 $  395

 $ 446

Restricted cashShort-term investments

60

2,111

60

2,142

Accounts receivable, net

            1,443

            1,562

Inventories,  net

            1,695

            1,601

Prepaid expenses and other current assets

878

779

Assets held for sale

319

              430

Total current assets

           6,901

          7,020

Plant and equipment, net

             672

522

Other intangible assets

            685

            685

Other assets

 951

              1,034

Total assets

  $ 9,209

 $ 9,261

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:
Accounts payableIncome taxes payable

345

59

222

61

Accrued expenses and other current liabilities

542

695

Total current liabilities

          946

          978

    Other liabilities

73

-

Total stockholders’ equity

       8,190

8,283

     Total liabilities and stockholders’ equity     $9,209        $9,261

 

 

Mace Security International, Inc.
Condensed Consolidated Statements of Operations
Three Months Ended March 31, 2016 and 2015
(Unaudited)
(Amounts in thousands)  

2016

 

2015

Net revenue

 $2,079

 $1,488

Cost of  revenue

          1,262

937

Gross profit

        817

       551

Selling, general, and administrative expenses

          972

971

Depreciation

           38

36

Operating loss

       (193)

       (456)

Interest expense

              (10)

              (53)

Interest income

              37

              52

Loss on sale of short-term investments

              -

             (12)

Other income

-

322

Loss from continuing operations before income tax provision

        (166)

(147)

Income tax provision

-

                -

     
Loss from continuing operations

       (166)

       (147)

Income (loss) from discontinued operations, net of tax of $0

             5

(36)

Net loss

 $(161)

 $(183)

 

 

 


August 2nd, 2016

Mace Releases December 31, 2015 Audited Financials

CLEVELAND – August 2, 2016 – Mace Security International Inc. (OTCPINK: MACE) today released audited financial results for the twelve-month period ended December 31, 2015. The Company’s yearend audit and financial results had been delayed pending resolution of a valuation issue on certain non-operating assets. The Company has made its audited financial statements for the years ended December 31, 2015 and 2014 available on the OTC Markets’ website.

“2015 was another pivotal milestone year for the Company as we continue to grow the Mace Brand both domestically and international through a strong focus on personal protection, security products, and innovation,” stated John J. McCann, President and CEO.

 

Fourth Quarter/Twelve Months 2015 Financial Highlights Compared to Prior Year

  • Strong net revenue and gross profit growth
  • Solid expansion in key channels of distribution
  • Reduced general and administrative expenses
  • Significant reduction of net operating loss from continuing operations

 

Conference Call

Mace® will announce date and time of conference call upon release of 2016 First Half Operating Results.

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the Company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security products under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. For more information, please visit www.mace.com.

 

Contact:
John J. McCann
President and Chief Executive Officer 440-424-5322
john@mace.com

 

Forward-Looking Statements

Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words or phrases “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “projected,” “intend to” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to economic conditions, dependence on management, our ability to compete with competitors, dilution to shareholders, and limited capital resources.

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