Mace Press Releases

March 23rd, 2017

Mace Security Int’l Acquires Washington Labs

Acquisition enhances Mace’s substantial share of the non-lethal defense spray market 

CLEVELAND – March 23rd, 2017 – Mace Security International and Washington Labs LLC announced today that they have finalized the agreement, originally announced on January.18th, 2017 to acquire Washington Labs. Per the agreement Mace has acquired all of Washington Labs assets, rights and properties for an undisclosed sum of cash and stock.  The transaction reinforces Mace’s brand position as a leader in the less lethal defense spray category throughout the world.  Production and distribution will be integrated into Mace’s existing facility in Cleveland, Ohio, and the company will be adding additional staff to support expected growth. To insure an efficient transition, the company has hired John R. McVay to lead the sales and operations of Washington Labs. John has an abundance of experience in sales, marketing and operations and will be working closely with Larry Harris to integrate the companies and the implement our future growth and branding strategies.

The acquisition benefits Mace, its customers, partners and shareholders in several ways, including:

·       An array of best in class products and services platforms

·       Increased manufacturing synergies and efficiencies

·       New product and category opportunities and partnerships

·       New marketing and sales opportunities for all partners (multi-brand solutions)

 

The goal of the combined entity will be to grow the defense spray category by partnering with current customers on products, strategies and programs. “Having acquired Washington Labs we are most excited about being able to offer dual-brand solutions and products to our customers” stated John McCann, President and Chief Executive Officer of Mace Security International.

Barring any unforeseen circumstances not uncovered during the thorough due diligence process, we expect this transaction to be immediately accretive to earnings and should provide additional impetus to our drive to grow both revenues and earnings.

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, manufacturing, and distributing 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.

# # #

 


February 27th, 2017

Mace Security International Reports Fourth Quarter and Full-Year 2016 Financial Results

-       Third consecutive positive net income quarter

-       Added several new accounts during the quarter and over Seventy for the full year

-       Margin improvement spurred by automation, production efficiencies, and cost reductions

-       Pending acquisition expected to increase revenues over 20% and improve overall margins

-       Mace shares recently up-listed to OTCQX Best Market

 

CLEVELAND – February 27, 2017 – Mace Security International Inc. (OTCQX: MACE) today released audited financial results for the year ended December 31, 2016.

Fourth Quarter/ Full-Year 2016 Financial Highlights

  • Net revenue up 9.1% for quarter; up 26.7% full-year
  • Gross profit up 19.0% for quarter; up 33.8% full-year
  • Key channels of distribution (sporting goods and consumer) net revenues up 22.0% for the quarter; up 29.4% year-to-date
  • Net income of $120,000, up $570,000 for the quarter; $250,000 for the year, up $1,277,000
  • EBITDA of $138,000, up $583,000 for the quarter; $317,000 for the year, up $1,332,000

  

Select Consolidated Financial Results, Fourth Quarter Ended December 31, 2016 and 2015

(in thousands): 

Dec 31,

% of Sales

Dec 31,

% of Sales

2016

2015

$ Chg

Net revenue

$      2,238

 $      2,051

$ 187

Gross profit

       863

38.6%

            725

37.5%

  138

Selling, general, and administrative expenses

         947

42.3%

         1,022

49.8%

 75

Operating loss          (123)

-5.5%

          (330)

-16.1%

   207

Net income (loss)

       120

5.4%

          (450)

-21.9%

  570

 

Fourth Quarter 2016 Operational Highlights

The Company experienced a 22% increase in net sales through its sporting goods and consumer sales channels in the fourth quarter.  “We experienced significant sales growth within some key accounts plus the Company continues to add more accounts every quarter,” said Mace President and CEO John J. McCann. Gross profit margins for the quarter improved significantly through investments in automation and package redesign that reduced material costs and improved productivity, while also reducing direct labor. During the fourth quarter, Mace completed the sale of its Surveillance business resulting in a $212,000 gain.

The above achievements contributed to Mace reporting net income for the third consecutive quarter and net profit for all of 2016.  “Our plan continues to be to grow sales, gain market share, control expenses, and further increase margins through cost reductions and improved productivity,” Mr. McCann added.

 

Subsequent Events

On January 19, 2017 Mace announced it entered into an agreement in principle to acquire all of the assets, rights and properties of Washington Labs, LLC, a producer of high quality defense spray products for an undisclosed amount of cash and stock. Upon closing, the transaction will make Mace one of the largest manufacturers and producers of less lethal defense sprays in the world.  The company now expects the transaction to close by March 31, 2017. “We look forward to integrating a business that perfectly complements Mace, adding EPA approved formulations, a portfolio of best-in-class products, and increased automation in the production process.” said Mr. McCann.

Also on February 16, 2017, the Company enhanced its stock by listing to trade on the OTCQX Best Market.

 

Chairman’s Letter on Mace.com Website

“I am pleased to see the Company continue to execute its business plan, and posting another quarter of income and increased sales,” said Richard Barone, Chairman.

Investors and interested parties are invited to read a letter from the Company’s Chairman, Richard Barone.  The letter can be found on the Company’s website, http://corp.mace.com/investor-relations/ under financial reports and information.

 

Conference Call

Mace® will conduct a conference call on Wednesday, March 1, 2017 at 2:00 PM EDT, 11:00 AM PDT to discuss its financial and operational performance for the quarter and year ended December 31, 2016. The participant conference call number is (877) 719-8065, conference ID: 79653569. A full set of the audited consolidated financial statements are available on the Mace website. Presentation materials for the conference call will be available Wednesday, March 1, 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, manufacturing, and distributing 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 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

(Audited)

 (Amounts in thousands)

ASSETS

December 31,

2016

 

December 31, 2015

Current assets:
Cash and cash equivalents

 $          970

 $         446

Restricted cashShort-term investments

60

1,794

60

2,142

Accounts receivable, net

            1,655

            1,562

Inventories,  net

            1,568

            1,601

Prepaid expenses and other current assets

952

              779

Assets held for sale, net

-

430

Total current assets

           6,999

          7,020

Plant and equipment, net

             714

522

Other intangible assets

            685

            685

Other assets

 1,184

              1,034

Total assets

  $      9,582

 $        9,261

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

Current liabilities:
Accounts payable  $             194   $              222
Income taxes payable

                  60

61

Accrued expenses and other current liabilities

518

695

Total current liabilities

          772

          978

Other liabilities

4

-

Total stockholders’ equity

       8,806

8,283

     Total liabilities and stockholders’ equity $           9,582  $            9,261

 

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Three Months Ended December 31, 2016 and 2015

 (Amounts in thousands) 

 

Three Months Ended December 31,

 

2016

 

2015

Net revenue

 $       2,238

 $       2,051

Cost of  revenue

          1,375

1,326

Gross profit

        863

       725

Selling, general, and administrative expenses

          947

1,022

Depreciation

           39

33

Operating loss

       (123)

       (330)

Interest expense

              (13)

(13)

Interest income

              34

              41

Loss on sale of short-term investments

(15)

(2)

Other income (expense), net

(4)

(16)

Loss from continuing operations before income tax provision

        (121)

(320)

Income tax (benefit) provision

(19)

                1

     
Loss from continuing operations

       (102)

       (321)

Income (loss) from discontinued operations, net of tax

222

(129)

Net income (loss)

 $      120

 $       (450)

  

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Years Ended December 31, 2016 and 2015

(Audited)

(Amounts in thousands)

 

Years Ended December 31,

 

2016

 

2015

Net revenue

 $       9,054

 $       7,145

Cost of  revenue

          5,369

4,390

Gross profit

        3,685

      2,755

Selling, general, and administrative expenses

          3,719

3,838

Depreciation

           155

140

Operating loss

       (189)

       (1,223)

Interest expense

              (48)

              (51)

Interest income

              136

              179

Loss on sale of short-term investments

              (15)

              (21)

Other income

(4)

296

Loss from continuing operations before income tax provision

        (120)

(820)

Income tax (benefit) provision

(19)

                1

     
Loss from continuing operations

       (101)

       (821)

Income (loss) from discontinued operations, net of tax

351

(206)

Net income (loss)

 $     250

 $       (1,027)


February 16th, 2017

Mace Security International Joins the OTCQX Best Market

CLEVELAND–()–Mace Security International, Inc. (OTCQX: MACE), a leader in designing, manufacturing, and distributing consumer and tactical products for personal defense and security, under its world-renowned Mace® Brand, has qualified to trade on the OTCQX® Best Market. Mace Security International upgraded to OTCQX from the Pink® market as of today. OTC Markets Group Inc. (OTCQX: OTCM) is an operator of financial markets for 10,000 U.S. and global securities.

Mace Security International begins trading today on OTCQX under the symbol “MACE.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

“Moving from the Pink market to the OTCQX market is another great achievement for the company as we continue to grow and increase shareholder value,” stated Richard Barone, Chairman of Mace Security International.

“Trading on OTCQX will allow Mace Security International to efficiently expand access to its news and financial disclosure and to demonstrate to investors that the company meets high financial standards and follows corporate governance best practices,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. “We look forward to supporting Mace Security International and its shareholders in the public markets.”

Mace Security International is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the company has spent more than 40 years designing, manufacturing, and distributing 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 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

Contacts

Mace Security International Inc.
John J. McCann, 440-424-5322
President and Chief Executive Officer
john@mace.com


January 19th, 2017

Mace to Acquire Washington Labs, Accelerating Growth in Personal Defense

by Mace Security International Inc.

CLEVELAND

Mace Security International and Washington Labs LLC announced today that they have entered into an agreement in principal under which Mace will acquire substantially all of Washington Labs assets, rights and properties for an undisclosed sum of cash and stock. Upon closing, the transaction will make Mace one of the largest manufacturers and producers of less lethal defense sprays in the world. Mace and Washington Labs anticipate the closing date will be on or about the 1st of February, 2017.

Washington Lab’s reputation in producing high quality defense spray products will benefit from Mace’s innovation and industry expertise. The companies complement each other and each company’s customers and partners will also benefit in the short and long term due to this acquisition.

“In reviewing options to sell Washington Labs, Mace was the best fit in terms of stability, process and also the ability to service Washington Lab’s customers. I feel both my employees and customers will benefit from this transaction,” stated Larry Harris, current owner of Washington Labs Inc. Larry Harris bought Washington Labs from George Diamond and Ralph Helmrich in the early 2000s.

As an industry leader with deep customer relationships, EPA approved formulations and a recognized portfolio of best-in-class products, Washington Labs immediately establishes a strong foundation to augment Mace’s future growth.

“Washington Labs perfectly complements Mace in terms of customer service, products and defense spray formulas, and joining forces is a natural extension of the growth strategy which we have been pursuing as an organization,” said John McCann, President and Chief Executive Officer of Mace Security International.

Barring any unforeseen circumstances not uncovered during the thorough diligence process, we expect this transaction to be immediately accretive to earnings.

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, manufacturing, and distributing 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.

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.

Contacts:

Mace Security International Inc.
John J. McCann, 440-424-5322
President and Chief Executive Officer
john@mace.com

Source: Mace Security International Inc.

November 15th, 2016

Mace Reports Strong Third Quarter 2016 Financial Results

-       2nd consecutive positive Net Income quarter vs. prior year losses

-       Highest revenue quarter in over 3 years led by growth in key channels

-       Strongest quarterly Gross Profit and EBITDA in over 4 years

-       Added 19 new accounts for the quarter, 65 for the year-to-date

-       Sale of surveillance business provides on-going royalty opportunity

 

CLEVELAND – November 15, 2016 – Mace Security International Inc. (OTCPINK: MACE) today announced unaudited financial results for the third quarter and nine-month period ended September 30, 2016.

“Strong sales to key domestic and international retailers and distributors along with improved operational efficiencies allowed Mace to post back-to-back profitable quarters.” said Richard Barone, Chairman. “Management’s continued focus on growing the top line, while reducing and managing costs in a restructured organization, has positioned the company to deliver sustainable profitable growth for investors.”  Mr. Barone added.

 

Third Quarter/Nine Months 2016 Financial Highlights

  • Net revenue up 58.2% for quarter; up 33.8% year-to-date
  • Gross profit up 81.9% for quarter; up 39.0% year-to-date
  • Key channels of distribution (sporting goods & consumer) net revenues up 65.2% for the quarter; up 32.2% year-to-date
  • International net revenues up 218.2% for the quarter; up 137.8% year-to-date
  • Selling, general and administrative expenses at 34.7% of net revenue, down from 54.1%
  • Net income of $250,000 reported for the quarter
  • EBITDA of $272,000 reported for the quarter

 

Select Consolidated Financial Results, Third Quarter Ended September 30, 2016 and 2015

(in thousands):

For the Three Months Ended

Sept 30,

% of Sales

Sept 30,

% of Sales

2016

2015

$ Chg

% Chg

Net revenue

$      2,706

100.0%

 $      1,710

100.0%

996

58.2%

Gross profit

       1,166

43.1%

            641

37.5%

525

81.9%

Selling, general, and administrative expenses

         940

34.7%

            925

54.1%

15

1.6%

Operating income (loss)           186

6.9%

          (319)

-18.7%

   505

Net income (loss)

       250

9.2%

          (335)

-19.6%

   585

  

Third Quarter 2016 Operational Highlights

All key channels experienced growth.  In particular, International is up 218% for the quarter, and is becoming an increasing part of the sales mix. The sporting goods channel also experienced growth, despite the loss of a former major customer that completed its bankruptcy liquidation earlier this year. The Company continued to broaden its customer base, adding another 19 accounts in the third quarter across consumer, tactical and sporting goods channels.  “Retailers and distributors see the power of the Mace Brand in the safety and security business segment. This provides Mace with opportunities to continue its top line growth”, said Mace President and CEO John J. McCann.

Mace® recently announced the November 2016 sale of its surveillance business to SecureCheck LLC.  The business was sold for a modest amount of cash in excess of the September 30, 2016 net Assets held for sale balance plus an on-going royalty revenue stream.  “By partnering with SecureCheck LLC, the Mace® brand will continue to be seen and become advertised nationally. The Mace team can now better focus on expanding the Company’s core business, add complimentary product lines, and look for additional royalty opportunities featuring the Mace Brand,” Mr. McCann added.

 

Conference Call

Mace® will conduct a conference call on Thursday, November 17, 2016 at 11:00 AM EDT, 8:00 AM PDT to discuss its financial and operational performance for the quarter ended September 30, 2016. The participant conference call number is (877) 719-8065, conference ID: 20895961. A full set of the consolidated financial statements are available on the Mace website. Presentation materials for the conference call will be available Thursday, November 17, 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, manufacturing,  and distributing 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

September 30,

2016

 

December 31, 2015

Current assets:

(Unaudited)

Cash and cash equivalents

 $          380

 $         446

Restricted cashShort-term investments

60

2,134

60

2,142

Accounts receivable, net

            2,084

            1,562

Inventories,  net

            1,665

            1,601

Prepaid expenses and other current assets

861

              779

Assets held for sale, net

219

430

Total current assets

           7,403

          7,020

Plant and equipment, net

             697

522

Other intangible assets

            685

            685

Other assets

 785

              1,034

Total assets

  $      9,570

 $        9,261

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

Current liabilities:
Accounts payable  $             337   $              222
Income taxes payable

                  59

61

Accrued expenses and other current liabilities

539

695

Total current liabilities

          935

          978

Other liabilities

24

-

Total stockholders’ equity

       8,611

8,283

     Total liabilities and stockholders’ equity $           9,570  $            9,261

 

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Three Months Ended September 30, 2016 and 2015

(Unaudited)

(Amounts in thousands)

 

Three Months Ended September 30,

 

2016

 

2015

Net revenue

 $       2,706

 $       1,710

Cost of  revenue

          1,540

1,069

Gross profit

        1,166

       641

Selling, general, and administrative expenses

          940

925

Depreciation

           40

35

Operating income (loss)

       186

       (319)

Interest expense

              (12)

(13)

Interest income

              30

              44

Loss on sale of short-term investments

-

(3)

Income (loss) from continuing operations before income tax provision

        204

(291)

Income tax provision

-

                -

     
Income (loss) from continuing operations

       204

       (291)

Income (loss) from discontinued operations, net of tax

46

(44)

Net income (loss)

 $      250

 $       (335)

 

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Nine Months Ended September 30, 2016 and 2015

(Unaudited)

(Amounts in thousands)

 

Nine Months Ended September 30,

 

2016

 

2015

Net revenue

 $       6,816

 $       5,094

Cost of  revenue

          3,994

3,064

Gross profit

        2,822

       2,030

Selling, general, and administrative expenses

          2,772

2,816

Depreciation

           116

107

Operating loss

       (66)

       (893)

Interest expense

              (35)

              (38)

Interest income

              102

              138

Loss on sale of short-term investments

              -

              (19)

Other income

-

312

Income (loss) from continuing operations before income tax provision

        1

(500)

Income tax provision

-

                -

     
Income (loss) from continuing operations

       1

       (500)

Income (loss) from discontinued operations, net of tax

             129

(77)

Net income (loss)

 $      130

 $       (577)


November 8th, 2016

Mace Sells Electronic Surveillance Business to SecureCheck LLC

header_Mace_SecureCheck

- SecureCheck will pay Mace Security International cash for the business 

- SecureCheck will promote and support the Mace® brand of electronic surveillance products 

- SecureCheck will also pay Mace an ongoing royalty for use of the Mace® brand 

- Deal allows Mace to further focus on consumer and tactical markets 

- Future royalty streams helps to insure future profitability for Mace Security International 

 

CLEVELAND – November 8th, 2016 – Mace Security International Inc. (OTCPINK: MACE) today announced the sale of the electronic surveillance business to Houston based SecureCheck LLC. The transaction includes a royalty agreement for the use of the world renowned brand name on certain electronic surveillance products.

“SecureCheck LLC is the right partner for Mace due to their expertise and their commitment to customer service. It is very important for Mace Branded customers to have the same positive experience regardless of the product or service provided stated John McCann – President and CEO of Mace Security International.” 

Mace Security International and SecureCheck LLC have begun to transfer responsibility for the business and anticipate the transition will be complete prior to the end of 2016. Both companies anticipate being able to launch new products and services under the Mace Brand name in 2017.

Mace recently reported a profitable second quarter and anticipates continued profitability in third quarter and beyond. “We believe this transaction with Secure Check will build on that profitability in the months and years to come” notes Chairman Richard Barone. 

“SecureCheck LLC, a leading security solutions provider is proud to be the newest member of the MACE family. “Our strategic partnership with this world class, internationally-renowned brand is a perfect fit, and a great addition, to our portfolio of security services and products. There is unlimited potential for success with the combined resources of our two companies,” observes Jack Molho, CEO of SecureCheck LLC. 

 

About SecureCheck, LLC.
SecureCheck LLC is an industry leader in Total Security Solutions©. Its CEO, Jack Molho reiterates the company’s philosophy by saying “If it’s important to you, it’s important to us.” SecureCheck employs only the most experienced professionals with the industry leading experience needed to safeguard what is most valuable to you.

“We stand ready to provide a turnkey solution to your security concerns. Our employees are prepared to tailor a system to your specific needs. Whether designing a new program of protection, installing or servicing your existing system, SecureCheck is the only call you should make.”

The firm is proud to be led by law enforcement and security professionals who understand the needs of our clients. SecureCheck is proud to provide proven results to commercial, industrial, corporate and residential clients. The company offers state of the art burglar/intrusion and detection systems, video surveillance-utilizing the latest in analytical software as well as remote video monitoring and access control systems. Accuracy is not an option, it is the essential principal on which all SecureCheck services are based.

SecureCheck also offers its customers the best in monitoring facilities. Exclusively utilizing Underwriters Laboratories/UL Listed, CSAA Five Diamond and FM Certified Central Station Monitoring services. Only a fraction of monitoring companies have achieved this exclusive recognition and we are proud to offer this as one of our premier service options.

“We’re on guard so you don’t have to be!” 

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


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.

# # #


June 23rd, 2016

Select Security and Mace Security International Team Up to Provide Nationwide DIY Security

Select Security and Mace Security International are proud to announce a new partnership to sell self-installed security systems under the Mace brand starting in 2016.

“Serving the do-it-yourself segment of the population is one that we’ve been looking at for quite some time,” said Select Security President, Steve Firestone. “While the Select Security name is well known in our branch territories, this partnership with Mace allows us to quickly and aggressively enter this market nationwide.”

The program is being led and managed by Select Security with an eye for an official launch in the fourth quarter of 2016. A team of Select Security’s senior management is currently interviewing for key personnel including an Executive Director, as well as finalizing the choice of manufacturer, location of the call center and fulfillment center, as well as choosing an agency to handle the advertising and public relations needs that come with running a nationwide project of this size.

Mace is the market leader worldwide in personal protection, due in large part to the pepper spray that has become synonymous with their name. According to research, more than 85% of the North American population recognizes the Mace name, while more than 91% of their customers express their satisfaction with Mace products.

“The expansion into personal security and alarm systems is a natural extension of our current offerings,” said Mace Security International President and CEO, John McCann. “By combining with the sales, marketing, and operational expertise of Select Security, we anticipate being able to expand the Mace reputation for quality into alarm and home automation systems while creating additional value for our shareholders.”

“D-I-Y security systems have increasingly become a viable option for consumers, and has generated great success for several other companies operating in this space,” Select Security Founder and CEO, Patrick Egan. “We expect and anticipate the performance of our Mace branded product to have comparable success in a fairly short timeframe.”

Select Security was founded in 2003 and has quickly grown to be one of the largest and most respected security and life safety solution providers in the markets it serves with a focus on being a Compelling Place to Work, Shop, and Invest. With multiple local offices covering Pennsylvania, Ohio, Kentucky, and West Virginia, Select Security offers integrated security and fire alarms, video surveillance, access control, along with home security, life safety, and convenient home automation systems. Select Security offers monitoring services through its secure network of four redundant monitoring centers that are each Underwriters Laboratories (UL) listed, Factory Mutual (FM) approved, and have earned the coveted 5-Diamond certification from the Central Station Alarm Association.

The company has been named a national finalist for three years in a row for the coveted “Installer of the Year” award handed out by Security, Sales & Integration Magazine, winning the award in 2014, due in part to its world-class customer care department, and has twice been included on the INC 5000 list of fastest growing companies and is a recurring member of Security Dealer Magazine’s annual list of the top 100 largest security systems companies.

Mace Security International, Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, 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. Mace® Brand products are manufactured in the U.S. For more information, please visit www.mace.com.

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.