Mace Press Releases

November 15th, 2017

Mace Reports Third Quarter 2017 Financial Results

-       Net sales up 4.5%
-       Operating  income up 62%
-       EBITDA of $351,000 reported for the quarter, up 55%
-       Adds 21 new accounts in the quarter
-       Strategic acquisition created additional operating efficiencies and sales opportunities

CLEVELAND – November 15, 2017 – Mace Security International Inc. (OTCQX: MACE) today announced unaudited financial results for the third quarter and nine-month period ended September 30, 2017.

“Leveraging the strength of the recent acquisition of Washington Labs has helped the company continue its positive trend of increased net sales and profits. Additionally, at the beginning of the fourth quarter, the Company closed another accretive acquisition which will benefit the company immediately and for the long-term.” stated Richard Barone Chairman. 

The Company, despite reporting an increase in sales for the quarter, did experience softness in a couple of channels of distribution namely sporting goods and international. The sporting goods channel is expected to be sluggish throughout the rest of 2017 and 2018. With regard to international opportunities, the immigration crisis in Western Europe has dissipated which has led to a slow-down of orders in some key markets from a year ago. Nonetheless, the company continues to be optimistic about future international opportunities in Europe and beyond.

 

Third Quarter/Nine Months 2017 Financial Highlights 

  • Net sales up 4.5% for quarter; up 3.4% year-to-date
  • Gross profit up 10.9% for quarter; up 5.6% year-to-date
  • Tactical distribution channel net sales up 83.5% for the quarter; up 68.9% year-to-date
  • Net income of $196,000 reported for the quarter
  • EBITDA of $351,000 reported for the quarter

 

Select Consolidated Financial Results, Third Quarter Ended September 30, 2017 and 2016
(in thousands):

For the Three Months Ended

Sept. 30,

% of Sales

Sept. 30,

% of Sales

2017

2016

$ Chg

% Chg

Net sales

$     2,828

100.0%

 $      2,706

100.0%

  122

4.5%

Gross profit

      1,293

45.7%

         1,166

 43.1%

             127

10.9%

Selling, general, and administrative expenses

        942

33.3%

            940

      34.7%

(2)

0.2%

Operating income             302

  10.7%

            186

6.9%

   116

62.4%

Net income

          196

6.9%

             250

   9.2%

    (54)

(21.6%)

 

 

Third Quarter 2017 Operational Highlights

“The Company continued its focus on profitability as well as increased distribution as we added twenty one new accounts in the third quarter. The Company continues to expand its product offerings, distribution base, and go to market strategies to respond to changing consumer shopping habits. The first quarter, 2017 acquisition of Washington Laboratories helped increase revenues, profits, and operating efficiencies.  We anticipate that the recent addition of Vigilant will provide the same benefits to the company.” stated Mace President and CEO John J. McCann.” 

McCann also noted that the Company continues its organic growth strategy of expanding product offerings within its existing physical retail and law enforcement account base while also adding new accounts. The Vigilant acquisition and the addition of David Happe will accelerate the execution of our e-commerce expansion strategy. The Company is also pursuing strategic relationships to expand its international presence, and will continue to consider acquisitions that align with its goals and initiatives. 

Conference Call

Mace® will conduct a conference call on Thursday, November 16, 2017 at 2:00 PM EDT, 11:00 AM PDT to discuss its financial and operational performance for the quarter ended September 30, 2017. The participant conference call number is (877) 719-8065, conference ID: 8598484. A full set of the consolidated financial statements are available on the Mace website. Recording of the teleconference will be available on the Mace website within 48 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, 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 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,

2017

 

December 31, 2016

Current assets:

(Unaudited)

Cash and cash equivalents

 $          332

 $         970

Restricted cashShort-term investments

-

606

60

1,794

Accounts receivable, net

            2,288

            1,655

Inventories,  net

            2,051

            1,568

Prepaid expenses and other current assets

895

952

Total current assets

           6,172

          6,999

Property and equipment, net

             808

714

Goodwill

             586

-

Intangible assets

            2,644

            685

Other assets

 1,018

              1,184

Total other assets

           4,248

          1,869

Total assets

  $      11,228

 $        9,582

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:
Current portion of long-term debt  $          185   $                 -
Accounts payable

             413

194

Income taxes payable

               60

60

Accrued expenses and other current liabilities

567

518

Total current liabilities

          1,225

         772

Long-term debt, net of current portion

             726

-

Other liabilities

2

4

Total liabilities

1,953

776

Total stockholders’ equity

       9,275

8,806

     Total liabilities and stockholders’ equity

$      11,228

 $           9,582

  

Mace Security International, Inc.
Condensed Consolidated Statements of Operations
Three Months Ended September 30, 2017 and 2016
(Unaudited)
(Amounts in thousands)

2017

 

2016

Net sales

 $       2,828

 $       2,706

Cost of  revenue

          1,535

1,540

Gross profit

1,293

       1,166

Selling, general, and administrative expenses

         942

940

Depreciation

           49

40

Operating income

       302

       186

Interest expense

              (12)

(12)

Interest income

17

30

Amortization of intangible assets

(111)

-

Income from continuing operations before income tax provision

196

204

Income tax provision

-

                -

     
Income from continuing operations

     196

204

Income from discontinued operations, net of tax

-

46

Net income

 $     196

 $       250

 

Mace Security International, Inc.
Condensed Consolidated Statements of Operations
Nine Months Ended September 30, 2017 and 2016
(Unaudited)
(Amounts in thousands) 

2017

 

2016

Net sales

 $       7,048

 $       6,816

Cost of  revenue

          4,068

3,994

     Gross profit

        2,980

       2,822

Selling, general, and administrative expenses

          2,773

2,772

Depreciation

          139

116

     Operating income (loss)

       68

       (66)

Interest expense

              (30)

              (35)

Interest income

              71

              102

Loss on sale of short-term investments

             (11)

              -

Amortization of intangible assets

    (111)

-

     Income (loss) from continuing operations before income tax provision

        (13)

1

Income tax provision

-

                -

     
Income (loss) from continuing operations

       (13)

       1

Income (loss) from discontinued operations, net of tax

            (22)

129

     Net income (loss)

 $      (35)

 $       130

 

 


October 19th, 2017

Mace® Security International Acquires Vigilant Personal Protection Systems

Mace, the market share leader and the number one brand in personal safety world-wide, solidifies its commitment to personal protection by acquiring Vigilant Personal Protection Systems

CLEVELAND–()–Mace Security International, Inc. (OTCQX: MACE) is pleased to announce the acquisition of Tampa, FL based Vigilant Personal Protection Systems in an asset purchase agreement. Vigilant, a top ecommerce marketing company in personal security and home medical products, will join the Mace family effective immediately. Mace Security International continues its dominance in personal safety and security by adding the #1 brand in personal alarms to the Mace Brand family of products.

“Mace and Vigilant had a great relationship prior to the acquisition and the acquisition makes a lot of sense for both companies, as e-commerce will be a big part of Mace’s future growth plans. David Happe brings extensive expertise, experience and passion to this dynamic channel,” stated John McCann, CEO and President of Mace Security International. David Happe is a 25 year veteran of the retail industry, including corporate purchasing experience for Best Buy Company Inc. and Wal-Mart Stores Inc. (Sam’s Club).

David Happe, the founder and CEO of Vigilant, will join Mace Security International as an executive vice president reporting directly to the CEO. “Timing of the acquisition was perfect for both companies; with the power of the Mace brand we will be able to provide more products, services and solutions to our retail partners and consumers,” stated David Happe.

Carleton McKenna & Co. assisted in the acquisition process as Mace Security International’s investment banking firm.

All operations will be moved to Mace Security International’s current facilities and the company expects to add additional staff to handle the expected growth. The integration is expected to happen smoothly and benefit Mace Security International’s customers now and in the future. The company expects the acquisition will be immediately accretive to earnings.

For additional information on Mace Security International, contact John J. McCann, President and Chief Executive Officer, 440-424-5322 john@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 and surveillance under its world-renowned Mace® Brand – the original trusted brand of defense 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.

Contacts

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

 


August 15th, 2017

Mace® Security International Expands Product Line: Introduces Multiuse Utility Knife

Introducing the new Mace® Brand Utility Knives, 440C stainless steel blade and aircraft grade aluminum handle. Includes seatbelt cutting tool, window break tip and a durable belt/pocket clip.

Introducing the new Mace® Brand Utility Knives, 440C stainless steel blade and aircraft grade aluminum handle. Includes seatbelt cutting tool, window break tip and a durable belt/pocket clip.

CLEVELAND (August 1, 2017) – Mace® Security International, Inc. today announced the launch of a multiuse utility knife. This is the first knife produced by Mace Brand, and will further diversify their complete range of personal safety and security products.

Globally, auto accidents are the ninth leading cause of death and in the United States alone, over 2 million will suffer severe injury or disability due to car crashes each year. The Mace Brand Utility Knife features a combination serrated and straight sharp blade along with seat belt cutting and window breaking tools on the handle. The one hand open capability could be a crucial asset to getting oneself or others out of a dangerous situation if involved in a car accident.

 “Mace Brand has always been more than pepper spray,” said John McCann, President and CEO, Mace Security International. “As one of the leading names in personal safety, we’re motivated to provide smart tools to protect individuals in threatening situations. Our new utility knife was designed with the diverse lifestyles and evolving needs of our consumer in mind.”

The Mace Brand Utility Knife is priced at $24.99 and comes with a one year warranty. Consumers looking to purchase the knife can visit Amazon, Vigilant, Mace, Discount Drug Mart and other fine retailers across the USA.

Contacts
Mace Security International
John McCann, 440-424-5322
President and CEO
john@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 and surveillance under its world-renowned Mace® Brand—the original trusted brand of defense 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.


August 10th, 2017

Mace Reports Second Quarter 2017 Financial Results

-       Net sales , up 24%

-       Positive net income , up 112%

-       Positive EBITDA of $124,000 reported for the quarter

-       Adds 16 new accounts in the quarter

 

CLEVELAND – August 10, 2017 – Mace Security International Inc. (OTCQX: MACE) today announced unaudited financial results for the second quarter and six-month period ended June 30, 2017.

“The strategic acquisition, which the company closed at the end of the first quarter, along with organic growth drove the net sales increases in the second quarter,” said Richard Barone, chairman.”Additionally the company saw an increase in gross profit in the second quarter as well as year to date in 2017.”

Second Quarter/Six Months 2017 Financial Highlights

  • Net sales up 23.6% for quarter; up 2.7% year-to-date
  • Gross profit up 20.7% for quarter; up 1.9% year-to-date
  • Consumer distribution channel net sales up 15.2% for the quarter; up 2.9% year-to-date
  • International net sales up 59.1% for the quarter; down 15.7% year-to-date
  • Net income of $87,000 reported for the quarter
  • EBITDA of $124,000 reported for the quarter

 

Select Consolidated Financial Results, Second Quarter Ended June 30, 2017 and 2016
(in thousands):

For the Three Months Ended

June 30,

% of Sales

June 30,

% of Sales

2017

2016

$ Chg

% Chg

Net sales

$     2,510

100.0%

 $      2,031

100.0%

  479

23.6%

Gross profit

      1,013

40.4%

         839

 41.3%

             174

20.7%

Selling, general, and administrative expenses

        866

34.5%

            860

 42.3%

(6)

0.7%

Operating income (loss)              97

3.9%

            (60)

-3.0%

   157

Net income

         87

3.5%

             41

   2.0%

   46

Second Quarter 2017 Operational Highlights

“The company, continuing to expand its dominant Brand presence in the market place, added 16 new customer accounts in the second quarter. A significant portion of the revenue increase in the second quarter can be attributed to the strategic and accretive acquisition which the company closed at the end of the first quarter.” stated Mace President and CEO John J. McCann.”

McCann noted that the company will continue to work on new products, promotions and distribution opportunities in the back half of 2017.

Conference Call

Mace® will conduct a conference call on Friday, August 11, 2017 at 2:00 PM EDT, 11:00 AM PDT to discuss its financial and operational performance for the quarter ended June 30, 2017. The participant conference call number is (877) 719-8065, conference ID: 69268772. A full set of the consolidated financial statements are available on the Mace website. Presentation materials for the conference call will be available Friday,

August 11, 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,

2017

 

December 31, 2016

Current assets:

(Unaudited)

Cash and cash equivalents

 $          568

 $         970

Restricted cashShort-term investments

-

606

60

1,794

Accounts receivable, net

            1,796

            1,655

Inventories,  net

            1,751

            1,568

Prepaid expenses and other current assets

917

952

Total current assets

           5,638

          6,999

Plant and equipment, net

             840

714

Goodwill

             2,641

-

Other intangible assets

            685

            685

Other assets

 1,018

              1,184

Total assets

  $      10,822

 $        9,582

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:
Current portion of long-term debt  $          183   $                 -
Accounts payable

             281

194

Income taxes payable

               60

60

Accrued expenses and other current liabilities

470

518

Total current liabilities

          994

         772

Long-term debt, net of current portion

             773

-

Other liabilities

3

4

Total liabilities

1,770

776

Total stockholders’ equity

       9,052

8,806

     Total liabilities and stockholders’ equity

$      10,822

 $           9,582

 

Mace Security International, Inc.
Condensed Consolidated Statements of Operations
Three Months Ended June 30, 2017 and 2016
(Unaudited)
(Amounts in thousands)

2017

 

2016

Net sales

 $       2,510

 $       2,031

Cost of  revenue

          1,497

1,192

Gross profit

1,013

       839

Selling, general, and administrative expenses

         866

860

Depreciation

           50

39

Operating income (loss)

       97

       (60)

Interest expense

              (12)

(12)

Interest income

25

35

Income (loss) from continuing operations before income tax provision

110

(37)

Income tax provision

-

                -

     
Income (loss) from continuing operations

      110

       (37)

Income (loss) from discontinued operations, net of tax

(23)

78

Net income

 $      87

 $       41

 

 

Mace Security International, Inc.
Condensed Consolidated Statements of Operations
Six Months Ended June 30, 2017 and 2016
(Unaudited)
(Amounts in thousands) 

2017

 

2016

Net sales

 $       4,220

 $       4,110

Cost of  revenue

          2,533

2,454

Gross profit

        1,687

       1,656

Selling, general, and administrative expenses

          1,831

1,832

Depreciation

           90

76

Operating loss

       (234)

       (252)

Interest expense

              (18)

              (23)

Interest income

              54

              72

Loss on sale of short-term investments

    (11)

-

Loss from continuing operations before income tax provision

        (209)

(203)

Income tax provision

-

                -

     
Loss from continuing operations

       (209)

       (203)

Income (loss) from discontinued operations, net of tax

            (22)

84

Net loss

 $      (231)

 $       (119)

 


June 26th, 2017

Mace® Security International Announces E-Commerce Business Distribution Expansion Agreement

Vigilant Personal Protection Systems becomes a stocking distributor adding additional online retail sales in the USA and Canada for Mace® Brand 911 Help Now and Mace® Alert Wifi Security Products

The Mace® Alert Wifi Home Security System and the Mace® Brand 911 Help Now

CLEVELAND–()–Mace Security International, Inc. (OTCQX:MACE) is pleased to announce expansion of its e-commerce presence in partnership with Tampa, FL based Vigilant Personal Protection Systems. Vigilant, a top e-commerce marketing company in personal security and home medical products has agreed to become a stocking national distributor for specific Mace® products including Mace® Brand 911 Help Now and the Mace® Alert Wifi Home Security System. Both products are in stock now at VigilantPPS and the expanded distribution is expected to launch at select national retailers online within Q3 2017.

Mace® Brand 911 Help Now is a subscription-free direct connection to 911 you wear like a necklace. The pendant style Mace® Brand 911 Help Now features a one touch emergency hotline directly to your local police operators anywhere in the United States and Canada with no monthly fees. Two-way communications gives the police dispatchers direct audio access to you with no cell phone required. It requires no knowledge or skill to use, and with the touch a button on a necklace you have a free, instant audio connection to your local police department. For a video demonstration, visit www.Mace911.com

The Mace® Alert Wifi Home Security System is a complete Do-It-Yourself home or business security system featuring easy wireless installation and no monthly monitoring contracts. The system features a professional quality control panel that pairs with a proprietary wireless movable PIR motion sensor, wireless door and window sensors, and key ring remote control. The system connects to your existing in-home wifi giving you Mace’s free remote access monitoring app on any iPhone, iPad, or Android device, all subscription free. For a video demonstration, visit www.MaceAlertWifi.com

Additional Mace products will be added to the expanded e-commerce initiative with Vigilant throughout the balance of 2017.

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

For additional information on Vigilant Personal Protection Systems (a division of Robinhood Digital LLC) please visit www.vigilantpps.com or email orders@vigilantpps.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 and surveillance under its world-renowned Mace® Brand – the original trusted brand of defense 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.

Contacts

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

 


May 15th, 2017

Mace Security International Reports First Quarter 2017 Financial Results

•  Finalized acquisition of Washington Labs in late March

•  25% revenue growth in the Tactical channel

•  Added fifty new accounts during the quarter throughout all channels

•  Partnered with an investment banking firm to work on strategic opportunities

•  Working capital  line of credit commitment from Chemical Bank to fund anticipated revenue growth

 

CLEVELAND – May 15, 2017 – Mace Security International Inc. (OTCQX: MACE) today released unaudited financial results for the quarter ended March 31, 2017.

 

First Quarter 2017 Financial Highlights

Revenue for the first quarter of 2017 was $1,710, a decline of $369 or 17.7%.  The relative decline stemmed from particularly strong international shipments in 2016 and softer sales through Sporting and Consumer distribution channels in the first quarter of 2017. “The Company remains positive regarding its ability to deliver strong full-year revenue growth, driven by opportunities in our Consumer channel, continued growth in new accounts, and sales to Washington Labs customers,” said Mace President and CEO John J. McCann.  While gross profit margins remained strong and operating expenses were stable, the effect of lower revenue was reflected in an operating loss of $331.  The Company anticipates returning to operating profitability in the second quarter and for the full year. At March 31, 2017 the Company’s balance sheet stayed strong, with $1,101 in cash and short term investments, $4,419 in net working capital, and $1,000 in seller notes related to the Washington Labs acquisition as the only debt.

 

Select Consolidated Financial Results, First Quarter Ended March 31, 2017 and 2016
(in thousands): 

Mar 31,

% of Sales

Mar 31,

% of Sales

2017

2016

$ Chg

Net revenue

$     1,710

 $      2,079

$ (369)

Gross profit

       674

39.4%

            817

39.3%

   (143)

Selling, general, and administrative expenses

         964

56.4%

            972

46.8%

(8)

Operating loss          (331)

-19.4%

          (193)

-9.3%

   (138)

Net loss

       (319)

-18.7%

          (161)

-7.7%

  (158)

First Quarter 2017 Operational Highlights

The Company closed on the Washington Laboratories business acquisition at the end of the first quarter, moved and integrated their production equipment and began shipping product to the newly acquired customers. “Thanks to a well executed integration plan, Washington Laboratories was purchased on March 22, 2017 and we were able to produce and ship product out of the Mace facility in the first quarter,” said Mr. McCann.  In an effort to continue to pursue all available strategic opportunities, the Company recently hired investment banking firm Carleton McKenna & Company. “I believe the latest acquisition went exceedingly well and has reinforced the company’s position as a dynamic player in the personal defense and security segment.”  added Mr. McCann.

Conference Call

Mace® will conduct a conference call on Wednesday, May 17, 2017 at 11:00 AM EDT, 8:00 AM PDT to discuss its financial and operational performance for the quarter ended March 31, 2017. The participant conference call number is (877) 719-8065, conference ID: 23774538. A full set of the consolidated financial statements are available on the Mace website. Presentation materials for the conference call will be available Wednesday, May 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 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.  Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions.   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. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.

 

# # #

  

 

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

ASSETS

(Unaudited)

March 31,

2017

 

December 31, 2016

Current assets:
Cash and cash equivalents

 $          436

 $         970

Restricted cashShort-term investments

60

605

60

1,794

Accounts receivable, net

            1,458

            1,655

Inventories, net

            1,961

            1,568

Prepaid expenses and other current assets

796

952

Total current assets

           5,316

          6,999

Plant and equipment, net

             867

714

Goodwill

            2,654

           -

Other intangible assets

            685

            685

Other assets

 1,136

              1,184

Total assets

  $      10,658

 $        9,582

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

Current liabilities:
Current portion of long-term debt  $             181   $                   -
Accounts payable                 283                   194
Income taxes payable

                  60

60

Accrued expenses and other current liabilities

373

518

Total current liabilities

          897

          772

Long-term debt, net of current portion

819

-

Accrued expenses and other current liabilities

3

4

Total liabilities

          1,719

776

Total stockholders’ equity

       8,939

8,806

     Total liabilities and stockholders’ equity $         10,658  $            9,582

 

 

Mace Security International, Inc.
Condensed Consolidated Statements of Operations
Three Months Ended March 31, 2017 and 2016
(Unaudited)
 (Amounts in thousands) 

 

Three Months Ended March 31,

 

2017

 

2016

Net revenue

 $       1,710

 $       2,079

Cost of  revenue

          1,036

1,262

Gross profit

        674

       817

Selling, general, and administrative expenses

             964

972

Depreciation

           41

38

Operating loss

       (331)

       (193)

Interest expense

              (5)

(10)

Interest income

              29

              37

Loss on sale of short-term investments

(12)

-

Loss from continuing operations before income tax provision

        (319)

(166)

Income tax provision

-

                -

     
Loss from continuing operations

       (319)

       (166)

Income from discontinued operations, net of tax

-

5

Net loss

 $      (319)

 $       (161)

 


April 4th, 2017

Mace to Present at Two Investor Conferences

Planet MicroCap Investor Conference April 26th-28th, 2017
B. Riley & Co. 18th Annual Institutional Investor Conference – May 24-25, 2017

 

CLEVELAND – April 4, 2017 – Mace Security International’s CEO John McCann will present at the Planet MicroCap Investor Conference on Thursday, April 27th at 9:00 a.m. PT (12:00 p.m. ET) in Las Vegas, NV. Additionally the company will also present at the 18th Annual B. Riley & Co. Investor Conference on Thursday, May 25th at 9:30 a.m. PT (12:30 p.m. ET) in Santa Monica, CA.  The company is scheduling one on one meetings at each respective conference so please visit the conference website to schedule a meeting. Presentation material will be made available on the Mace website prior to the respective conference dates.

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.

# # #


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