Friday, March 29th, 2019
Mace Security International, Inc.
4400 Carnegie
Cleveland, OH 44103

Mace Reports Fourth Quarter and Full-Year 2018 Financial Results


  • Net sales increased 15.1% to $11,489,000 for 2018
  • Net loss of ($1,946,000) for 2018, which includes non-cash charges totaling $1,514,000 for Note Receivable write-downs, inventory write-downs, and other non-cash charges.
  • Adjusted EBITDA of $172,000 for the year


CLEVELAND, Ohio – Mace Security International Inc. (OTCQX: MACE) today released audited financial results for the year ended December 31, 2018.

The Company is pleased to announce another year of double-digit growth in 2018. The Company has grown its top line sales through organic growth as well as benefiting from prior year strategic acquisitions. The Company’s net loss in 2018 included non-cash charges of $1,514,000.

New President and CEO Gary Medved commented: “We are pleased that the Company has seen its fourth straight year of increase in net sales. While we are not satisfied with the overall financial results, we see 2018 and early 2019 as a period of resetting the company for profitable future growth.”

Since Mace established a new senior management team in early 2019, the Company has focused on

  • Replenishing leadership in the operational and sales areas
  • Explored several significant partnering opportunities which it expects to announce in Q2 of 2019
  • Continued investments in advertising and content marketing to promote, protect and grow the Company’s brands

Fourth Quarter/ Full-Year 2018 Financial Highlights – Compared to 2017

  • Net sales relatively comparable to prior year for Fourth quarter; up 15.1% year-to-date
  • Gross profit decreased ($769,000) or (25.4) margin points compared to the same quarter in 2017 including non-cash inventory write downs of $358,000 in the fourth quarter of 2018; Gross margin for the full year 2018 was 37.9%, including the (3.5%) margin impact for the non-cash inventory charges, compared to 44.1% in 2017.
  • EBITDA of ($1,523,000) for 2018, and adjusted EBIDTA of $172,000 compared to $248,000 and $377,000, respectively, for the 2017 year


Fourth Quarter / Full Year 2018 Operational Highlights

The Company, with the full year of benefit from the 2017 acquisitions of Washington Laboratories and Vigilant, as well as continued growth in its ecommerce channel was able to grow revenues by 15.1% despite flat sales in its largest channels, traditional consumer and sporting goods. SG&A expenses also held steady as a percent of net sales at approximately 41%. Financial performance was challenged by noncash charges totaling $1,514,000 for the year.


Conference Call

Mace® will conduct a conference call on Tuesday April 2, 2019 at 10:00 AM EDT, 7:00 AM PDT to discuss its financial and operational performance for the quarter and full-year ended December 31, 2018. The participant conference call number is (877) 719-8065 conference ID: 8172817.  A full set of the consolidated financial statements are available on A digital recording of the conference call will be available for replay two hours after the call’s completion. To access the recording, use the dial-in number listed below and the conference ID number 8172817 :

Encore dial-in number: (855) 859-2056   or (404) 537-3406
***In addition to the toll-free number listed above, you can also dial (800) 585-8367 to access your recording.***

Encore dates: 04/02/2019 13:00 Eastern Time – 04/04/2019 23:59 Eastern Time


About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety products. Based in Cleveland, Ohio, the Company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense and, security 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 Take Down® brands, and Vigilant® Brand alarms which is the world-wide leader and number one recognized brand in personal alarms.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce channels and through its website, For more information, please visit


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.





In this press release, the Company’s financial results and financial guidance are provided in accordance with accounting principles generally accepted in the United States (GAAP) and using certain non-GAAP financial measures. Management believes that presentation of operating results using non-GAAP financial measures provides useful supplemental information to investors and facilitates the analysis of the Company’s core operating results and comparison of operating results across reporting periods. Management also uses non-GAAP financial measures to establish budgets and to manage the Company’s business. A reconciliation of the GAAP financial results to non-GAAP financial results is included in the attached schedules.



Gary Medved
President and Chief Executive Officer
gmedved at

Mark Barrus
SVP and Chief Financial Officer
mbarrus at