Mace Press Releases

May 8th, 2020

Mace Security International, Inc. announces pepper spray donation to Access Shelter

 

CLEVELAND, May 2, 2020 /ACCESSWIRE/ – Mace Security International, Inc. (OTCQX: MACE or “the Company”), a globally recognized leader in personal safety products, recently donated a batch of pepper spray dispensers to ACCESS Shelter of Akron, OH to be handed out to its residents who are often traveling alone on public transportation. Gary Medved, CEO & President of Mace® Security International, states “while we believe everyone should have access to non-lethal personal safety products, we are especially sensitive to those who are in immediate need and could use the added protection our products offer. Providing these units to those in need, speaks to our overall mission of keeping our communities safe.”

 

Sanjay Singh, Executive Chairman of Mace® Security International commented “I was very impressed by the work that is being done by the team at ACCESS when I took a tour of their facility a few years ago. We are happy to assist the residents and team members of ACCESS by providing them peace of mind.”

 

Jackie Hemsworth, Executive Director of ACCESS, added “ACCESS is so pleased to receive this generous donation of personal protection items for our residents. A great majority of our residents both walk and ride the bus alone to their destinations. The Mace products, along with education on personal safety, will help to empower and keep those we serve safe.”

 

About ACCESS Shelter:

 

ACCESS is an emergency shelter for women and children in Akron, OH. Opened in 1984, the organization has served more than 20,000 individuals currently experiencing homelessness. ACCESS Shelter encourages the development of self-esteem and the attainment of self-sufficiency through its commitment of providing a holistic, safe and supportive environment, and through its programs of housing, advocacy and empowerment. For more information, visit www.access-shelter.org.

 

About Mace® Security International, Inc.:

 

Mace® Security International, Inc. (MACE) 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 and security 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, KUROS! ® Brand personal safety products, Vigilant® Brand alarms, and Tornado ® Brand pepper spray and stun guns. MACE distributes and supports Mace® Brand products through mass market retailers, wholesale distributors, independent dealers, Amazon.com, Mace.com, and other channels. For more information, visit www.mace.com.


May 4th, 2020

Mace Announces First Quarter 2020 Financial Results

 

  • Net sales for the first quarter of 2020 increased to $2,791,000, or 2.9% over same period of 2019
  • Net income improved by $976,000 to $120,000 in the three months ended March 31, 2020, compared to a let loss of ($856,000) in the same period of 2019
  • EBITDA of $240,000 for the quarter vs. ($736,000) EBIDTA in the first quarter of 2019, a $976,000 improvement.

 

CLEVELAND, Ohio – Mace Security International Inc. (OTCQX: MACE) announces its unaudited financial results for the quarter ended March 31, 2020.

The Company’s net sales for the first quarter of 2020 increased 2.9% over the same period in 2019, with net income in the first quarter of 2020 reported of $120,000. EBIDTA for the first quarter of 2020 was $240,000.

President and CEO Gary Medved commented: “We are pleased that the Company’s performance in the first quarter reflects the improvements made over the past 15 months, including customer acceptance of our product line refresh and introduction of full product continuum. These improvements led to increased consumer sales, disciplined SG&A spending, and the resulting strong EBIDTA generation. I am very proud of our associates who helped Mace remain open for business throughout the COVID-19 Health emergency that began in the quarter, and allowed us to provide Mace ® Brand products to essential law enforcement customers as well as provide personal safety and protection to all our customers.”

Medved continued: “While Mace does not make future earnings projections and certainly would not attempt to do so in the face of current Covid -19 uncertainties, we, like most consumer oriented businesses, expect to see pressure  on revenues in the 2nd quarter as our customers continue to adjust to the current emergency.”

 

First Quarter 2020 Financial Highlights

  • SG&A expenses declined by $937,000 to $881,000 for the quarter, or 31.6% of gross sales, driven primarily by lower spending on salaries and benefits, reduced legal and professional expenses, and a non-recurring acceleration of stock compensation expense that occurred in the first quarter of 2019.
  • Gross profit for the first quarter increased $41,000, or 3.9% over the same period in the period year, driven primarily by increased sales volume, while gross profit percentage stayed relatively flat at 38.7% this quarter vs. 38.3% in the three months ended March 31, 2019.
  • Cash and cash equivalents increased to $383,000 at March 31, 2020, an increase of $76,000 over the $307,000 on hand at December 31, 2019.   

 

First   Quarter 2020 Operational Highlights 

  • The Company maintained full manufacturing and distribution activities throughout the quarter, and to date has not experienced significant supply chain disruptions due to the COVID-19 emergency.
  • Completed comprehensive nationwide consumer insight survey in the quarter, leading to focused demographic targeting, improved product design and beneficial consumer education opportunities.

 

Conference Call

Mace® will conduct a conference call on Tuesday May 5, 2020 at 1 PM EDT, 10 AM PDT to discuss its financial and operational performance for the quarter.

Participant Toll-Free Dial-In Number: (833) 360-0862; Conference ID 3254038

A full set of the consolidated financial statements are available on www.Mace.com. A digital recording of the conference call will be available for replay two hours after the call’s completion. The date ranges the recording will be available are listed below. To access the recording, use the dial-in number listed below and the conference ID  3254038

Encore dial-in number:  855-859-2056 (or internationally on 404-537-3406)
Encore dates: Will be available 2 hours after the call and will expire midnight on July 5, 2020

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety products. Based in Cleveland, Ohio, the Company has spent more than 30 years designing and manufacturing consumer and tactical products for personal defense and security under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The Companies other leading brands include Tornado® Brand stun guns and pepper spray, and Vigilant® Brand alarms. The Company also offers aerosol defense sprays for law enforcement and security professionals worldwide through its Take Down® Brand.

Mace Security International distributes and supports its products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce channels and through its website, www.Mace.com. 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.

.

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

 

2020   2019


Net sales           2,791            2,712
Cost of goods sold           1,710            1,672


Gross profit           1,081            1,040
Selling, general and administrative expenses              881            1,818
Amortization of intangible assets                69                 67


Operating income (loss)              131             (845)
Interest expense               (11)                (14)
Interest income                –                   4
Loss on sale of short-term investments                –                 (1)


Income (loss) before income taxes              120             (856)
Income tax provision                –                 –


Net income (loss)              120             (856)

 

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

 

(Unaudited) (Audited)
ASSETS  March 31, 2020  December 31, 2019
Current assets:

Cash and cash equivalents  $            383  $          307
Accounts receivable (net)                1,819             1,544
Inventories                1,662             1,591
Note receivable and other current assets                 346              446



 Total current assets  4,210  3,888
Property and equipment, Net                   529                 562
 Operating lease right-of-use asset, net             702               752
Finance lease right-of-use asset, net                   10                  11
Goodwill              1,031            1,031
Intangible assets, net              2,675           2,744
Note receivable and other non-current assets                  14                 14


Total assets  $          9,171  $      9,002
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt  $             217  $           215
Bank line of credit                600              600
 Operating and finance lease obligations – current                   215                 212
Accounts payable                 573              364
Income taxes payable                   55                 56
 Accrued expenses and other current liabilities                   329                 412


Total current liabilities                1,989             1,859
Long-term debt (net of current portion)                   229                 284
Operating and finance  lease obligations – non-current                   517                 573


Total liabilities                2,735             2,716
Stockholders’ equity:
Common stock issued and outstanding                   634                 633
Additional paid in capital            103,281         103,252
Treasury stock                    (22)                 (22)
Accumulated deficit            (97,457)          (97,577)
Total stockholders’ equity                6,436             6,286


Total liabilities and stockholders’ equity  $          9,171  $      9,002

 

Mace Security International, Inc.
Reconciliation of Net Income to EBITDA and Adj. EBIDTA

Three months ended March 31

(Unaudited)
(Amounts in thousands) 

                                                                                                   2020                                  2019

Net income (loss)              120             (856)
Adjustments:
Interest expense                11                 14
Interest income                –                 (4)
Income tax expense                –                 –
Depreciation and Amortization              109               110


EBITDA              240             (736)
Severance                –               277
Non-Cash Stock Compensation Expense                30               236


Adjusted EBITDA              270             (223)

 

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

 

Contacts:

Gary Medved

President and Chief Executive Officer

gmedved@mace.com


April 28th, 2020

Mace Announces Timing of First Quarter 2020 Earnings Call

CLEVELAND, April 28, 2020 /ACCESSWIRE/ – Mace Security International, Inc. (OTCQX: MACE), a globally recognized leader in personal safety and security products, announces the timing of its Earnings Call for the First Quarter of 2020.   MACE will conduct a conference call on May 5, 2020, at 1 PM EDT, 10 AM PDT to discuss its financial and operational performance for the first quarter ended March 31, 2020.

 

Participant Toll-Free Dial-In Number: 1-833-360-0862; Conference 3254038

 

A digital recording of the conference call will be available for replay after the call’s completion. The date ranges the recording will be available are listed below. To access the recording, use the dial-in number listed below and the conference ID

 

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

Encore dates: 05/05/2020 16:00 Eastern Time – 07/05/2020 23:59 Eastern Time

 

About Mace Security International, Inc.:

Mace Security International, Inc. (MSI) is the globally recognized leader in personal safety and security. Headquartered in Cleveland, Ohio, the company has spent more than 40 years designing and manufacturing products for personal safety and security under its world-renowned Mace® Brand – the original trusted brand of defense aerosol products. The company also offers aerosol defense sprays, gels, and foams for law enforcement and security professionals worldwide through its  Take Down® brand, Vigilant® Brand alarms, which are the world-wide leader and number one recognized brand in personal alarms, and Tornado ® Brand pepper spray and stun guns. MSI manufactures, distributes and supports its products through leading  retailers, wholesale distributors, independent dealers, e-commerce channels, and it’s website, www.mace.com.

 

Forward-Looking Statements

This presentation contains certain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. The words “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “aspiration,” “objective,” “project,” “believe,” “continue,” “on track” or “target” or the negative thereof and similar expressions, among others, identify forward-looking statements. All forward looking statements are based on information currently available to management. Such forward-looking statements are subject to certain risks and uncertainties that could cause events and the Company’s actual results to differ materially from those expressed or implied. Please see the disclosure regarding forward-looking statements on the Company’s Annual Report on the OTCQX website or on www.mace.com. The company assumes no obligation to update any forward-looking statements.

 

Related Links

http://www.mace.com

 

 


April 16th, 2020

Mace Announces Participation at the Upcoming Planet Microcap Virtual Investment Conference on April 22 and 23, 2020

 

CLEVELAND, Ohio – Mace Security International Inc. (OTCQX: MACE) President and CEO Gary Medved will be presenting at the Planet Microcap Virtual Investment Conference on Wednesday April 22, 2020 at 12:20 pm EST. Mr. Medved will be available for 1 on 1 interviews with interested investors the following day, April 23, 2020.

Advanced registration for the conference and the 1 on 1 interviews is now open at : www.PlanetMicroCapShowcase.com.

Registrants can thereafter access Mace’s presentation on April 22nd at 12:20PM EST/9:20AM PST at:

https://www.webcaster4.com/Webcast/Page/2059/34152

For more Information on this or any of the following Mace IR events, please contact Mace Investor Relations at IR@mace.com.

Conference/ Event Date
Planet MicroCap – Las Vegas April 22-23,2020
Mace Q1 2020 Earnings Call  May 5, 2020
Mace Annual  Shareholders Meeting and Investor Day TBD
Mace Q2 2020 Earnings Call August 2020
Investor Summit MicroCap conference, NYC September 29-30, 2020
OTC virtual investor conference October 8, 2020
Mace Q3 2020 Earnings Call November 2020
LD Micro Main Event December 8-10, 2020
Mace Q4 2020 Earnings Call February 2021

 

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety and security products. Based in Cleveland, Ohio, the Company has spent more than 30 years designing and manufacturing consumer and tactical products for personal defense and security under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The Companies other leading brands include Tornado® Brand stun guns and pepper spray, and Vigilant® Brand alarms. The Company also offers aerosol defense sprays for law enforcement and security professionals worldwide through its Take Down® Brand.

Mace Security International distributes and supports its products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce channels and through its website, www.mace.com. 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.

 

Gary Medved, President and CEO

gmedved@mace.com

Telephone 440-424-5322

 

 

 


April 7th, 2020

COVID-19 Update and Executive and Board Changes

 

April 7, 2020

 

Mace Security International, Inc. Announces Impact of COVID-19 on its Business, and Board of Directors and Executive Changes

 

CLEVELAND, Ohio – Mace Security International, Inc. (OTCQX: MACE or “the company”) today released information regarding the impact of the COVID-19 Health Emergency on its operations. It also is announcing unrelated executive and Board of Director’s changes.

Considering recent national developments MACE feels it is important to provide a timely update to its shareholders in advance of the availability of its formal Q1, 2020 report.

Regarding the impact of the COVID-19 virus, the company is continuing to provide its customers with important products to protect their personal safety during these difficult times.  In the first several weeks of this economic disruption both online sales, as well as shipments to several retail accounts, have held up well and in some instances even shown some increase over the same period from the prior year.  As might be expected, orders from some retailers which are impacted by forced closure have declined or stopped. While  MACE is continuing production and has no current plans to discontinue production, there is no assurance that this will continue throughout or following the emergency.

Given the uncertainty of the extent and duration of the human and economic disruption affecting our customers  caused by the COVID-19 health emergency, any attempt to predict future sales and earnings would be futile. At the present time, MACE does not believe the financial results of its quarter ended March 31, 2020 will be materially impacted by COVID-19 related factors.

The company is operating under  Corona Virus Health Best Practice guidelines to protect its employees and is taking every opportunity to preserve cash and to further strengthen the balance sheet.

While the timing is unfortunate,  Mark Barrus announces his retirement to focus on the education field. Mark is expected to remain with the company for several weeks in order to ensure a smooth transition. The Board thanks Mark for his efforts over the last fifteen months.

Given the challenging current business environment as well as the desire to take advantage of significant future opportunities which have been identified, the Board has approved a plan to strengthen the top management team by having Sanjay Singh, our current Board Vice-Chairman join the company as a full time employee.  Mr. Singh has been elected Executive Chairman of the Board.  As Executive Chairman, Mr. Singh will not only be able to support our President and CEO Gary Medved as the company deals with today’s unprecedented challenges but will also be able to focus on future longer-term strategic planning and activities. Mr. Singh’s primary responsibilities include vision and long-term strategy setting, proper allocation of resources, sound governance, growth in enterprise value and champion of the company’s values. In order to ensure that current cash flow is not impacted Mr. Singh has agreed that all compensation for the balance of 2020 shall be in the form of stock rather than cash. Mr. Singh comes to MACE from a privately owned manufacturer, where the enterprise value of the company significantly increased under his leadership as President.

Mr. Singh commented: “I am privileged to have the support of our Board and be able to work with an amazing team of associates who are passionate about providing the most innovative and highest quality non-lethal personal safety products and services to its customers worldwide.  The opportunities to grow this iconic brand name company based in Northeast Ohio are tremendous and I am excited to go to work with Gary Medved and his team to do that. Gary is a bold, results-oriented leader, and I am honored to work with him to drive superior execution and strengthen the balance sheet. A lot of work lies ahead of us to unlock the value of MACE and we will move with urgency to do that. Our most immediate priority is to conserve cash and take advantage of the CARES Act stimulus package so that we can continue to take care of our customers, suppliers, sales representatives, and, most importantly, our associates.”

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety and security products. Based in Cleveland, Ohio, the Company has spent more than 30 years designing and manufacturing consumer and tactical products for personal defense and security under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The Companies other leading brands include Tornado® Brand stun guns and pepper spray, and Vigilant® Brand alarms. The Company also offers aerosol defense sprays for law enforcement and security professionals worldwide through its Take Down® Brand. Mace Security International distributes and supports its products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce channels and through its website, www.mace.com. 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.

Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, including restructuring or strategic initiatives (including capital investments, asset acquisitions or dispositions, integration initiatives and timing of synergy realization) or other business decisions, as well as from developments beyond the Company’s control, including:

  • changes in domestic and global economic conditions, competitive conditions and consumer preferences.
  • adverse weather conditions or natural disasters.
  • health concerns, including COVID-19, and the availability of our employees.
  • labor markets and activities.
  • impact on our distribution channels, particularly our brick and mortar channels
  • demand for our products and services; and
  • impact of a slowdown in consumer spending as a result of the COVID-19 emergency.

 

Contacts:

Gary Medved

President and Chief Executive Officer

gmedved@mace.com

 


March 2nd, 2020

Mace Announces Investor Relations Schedule for 2020

CLEVELAND, Ohio – Mace Security International Inc. (OTCQX: MACE) today released its schedule of Investor Relations events for 2020. MACE leadership will be presenting in person at several investor conferences, will add a virtual investor conference to its lineup of IR events in 2020, and will continue its popular Investor Day presentation where investors can get a mid-year update on new products and programs in the personal safety and security area.

 

For more Information about any of these events, please contact Mace Investor Relations at IR@mace.com.

Conference/ Event Date
Planet MicroCap – Las Vegas April 21-23, 2020
Mace Q1 2020 Earnings Call  May 2020
Mace Annual  Shareholders Meeting and Investor Day May 2020
Mace Q2 2020 Earnings Call August 2020
Investor Summit MicroCap conference, NYC September 29-30, 2020
OTC virtual investor conference October 8, 2020
Mace Q3 2020 Earnings Call November 2020
LD Micro Main Event December  8-10, 2020
Mace Q4 2020 Earnings Call February 2021

 

 

 

About Mace Security International, Inc.

 

Mace Security International Inc. is a globally recognized leader in personal safety and security products. Based in Cleveland, Ohio, the Company has spent more than 30 years designing and manufacturing consumer and tactical products for personal defense and security under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The Companies other leading brands include Tornado® Brand stun guns and pepper spray, and Vigilant® Brand alarms. The Company also offers aerosol defense sprays for law enforcement and security professionals worldwide through its Take Down® Brand.

Mace Security International distributes and supports its products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce channels and through its website, www.mace.com. 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.

 

Mark Barrus

SVP and Chief Financial Officer

mbarrus@mace.com


February 26th, 2020

Mace Earnings Release for Q4 and Full Year ended December 31, 2019

Mace Reports Fourth Quarter and Full Year 2019 Financial Results

 

• Net loss of ($77,000) for the quarter improved from ($161,000) in the third quarter of 2019 and ($1,859,000) in the fourth quarter of 2018

 

• Gross profit for the fourth quarter of 2019 increased $273,000 or 42% over same period in 2018

 

• EBITDA of $45,000 and adjusted EBIDTA of $61,000 for the fourth quarter of 2019 represents the third straight quarter of sequential EBIDTA and Adjusted EBIDTA improvement

 

• Year ended December 31, 2019 net sales reported of $10,504,000 compared to $11,489,000 in the same period of 2018, with 2019 net loss of ($1,700,000) improving from loss of ($1,946,000) for the year ended December 31, 2018.

 

CLEVELAND, Ohio – Mace Security International Inc. (OTCQX: MACE) today released unaudited financial results for the quarter ended December 31, 2019 and audited results for the twelve months ended December 31, 2019.

The Company’s net sales for the fourth quarter ended December 31, 2019 decreased $459,000 or 16% over the same period in 2018, with a net loss in the fourth quarter of ($77,000). EBIDTA for the fourth quarter of 2019 improved to $45,000 compared to ($1,749,000) in the same period of 2018. Adjusted EBIDTA was $61,000 for the quarter ended December 31, 2019 compared to ($223,000) in the same period of the prior year.

For the year ended December 31, 2019 net sales declined to $10,504,000 from $11,489,000 in the prior year, while net loss for the twelve-month period ended December 31, 2019 declined to ($1,700,000) from ($1,946,000) in the same period of 2018. EBIDTA and Adjusted EBIDTA for the year ended December 31, 2019 were ($1,207,000) and ($158,000), versus ($1,523,000) and $172,000, respectively, for the year ended December 31, 2018.

President and CEO Gary Medved commented: “As a result of our relentless focus on financial and operating performance improvement, we have reached the point where these improvements are now taking hold. Each of the quarters in 2019 resulted in increased EBIDTA levels from the preceding period. We have lowered our cost structure so that SG&A expenses are now down to 36% of net sales, from 46% in the three months ended December 31, 2018, and approximately half of SG&A run rate of 67% of net sales that existed when we came on board in the first quarter of 2019.”

“Furthermore, our customers are beginning to react to our refreshed products and packaging. We have added new customers in Q4, as well as incremental product placements that together we expect to contribute to a top line sale increase late Q1 or early Q2 of 2020.”

Fourth Quarter/Full Year 2019 Financial Highlights

• EBIDTA increased sequentially from ($736,000) in Q1 2019 to ($481,000) in Q2, ($36,000) in Q3, and $45,000 in Q4. Adjusted EBIDTA for the same periods within 2019 was ($223,000) in Q1, ($5,000) in Q2, $9,000 in Q3, and $61,000 in Q4 2019.

• Despite a ($459,000) decline in fourth quarter 2019 sales, compared to the same period in 2018, gross profit increased $273,000.

• SG&A expenses for the fourth quarter 2019 decreased to 36% of net sales compared to full year 2018 average of 41% of net sales and 41% in the third quarter of 2019.

Fourth Quarter/Full Year 2019 Operational Highlights

• As a result of the Company’s decreased manufacturing costs from consolidation of positions and other actions throughout the latter half of 2019, manufacturing variances, a measure of the efficiency, declined from approximately $90,000 per month in the first half of 2019 to less than $57,000 per month in the third and fourth quarter of 2019, while keeping production capacity unchanged. The Company also has also signed outsourcing arrangements with IT and logistics service providers that have the potential to continue to reduce overall SG&A costs while maintaining the existing level of support to our customers.

• In the fourth quarter, the Company obtained new business commitments from several significant national retailers. These commitments include several new customers in the automotive space, as well as product line expansions at several existing national retail customers. While some of these products began shipping late in the fourth quarter of 2019, the Company believes most of the net sales impact will begin to occur in mid to late first quarter of 2020 and has the potential to add in excess of 5% annual incremental net sales.

Conference Call

Mace® will conduct a conference call on Thursday February 27, 2020 at 11 AM Eastern, 8 AM Pacific time to discuss its financial and operational performance for the quarter and for the twelve months ended December 31, 2019.
Participant Toll-Free Dial-In Number: (877) 719-8065; Conference ID 4919426

A full set of the consolidated financial statements are available on www.Mace.com. A digital recording of the conference call will be available for replay two hours after the call’s completion. The time period that the recording will be available is listed below. To access the recording, use the dial-in number listed below and the conference ID 4919426.

Encore dial-in number: 855-859-2056 (or internationally on 404-537-3406) Encore dates: Will be available 2 hours after the call and will expire 4/22/2020.

 

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety and security products. Based in Cleveland, Ohio, the Company has spent more than 30 years designing and manufacturing consumer and tactical products for personal defense and security under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The Companies other leading brands include Tornado® Brand stun guns and pepper spray, and Vigilant® Brand alarms. The Company also offers aerosol defense sprays for law enforcement and security professionals worldwide through its Take Down® Brand. Mace Security International distributes and supports its products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce channels and through its website, www.mace.com. 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.

 

    Mace Security International, Inc.     
        Condensed Consolidated Balance Sheets    
      (Amounts in thousands)  
      (Audited)   (Audited)  
ASSETS    December 31, 2019     December 31, 2018 
Current assets:
Cash and cash equivalents  $            307  $            198
Short term investments                       –                 253
Accounts receivable                2,080             2,085
Allowance for doubtful accounts                                           (536)               (130)
Inventories                1,591             1,932
Note receivable and other current assets                   446                 642
Total current assets                3,888             4,980
Property and equipment, Net                   562                 691
Operating lease right-of-use asset, net                   752                    –
Finance lease right-of-use asset, net                      11                    –
Goodwill                1,031                 877
Intangible assets, net                2,744             2,943
Note receivable and other non-current assets                      14  

                 18

Total assets  $        9,002           9,509
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt  $             815  $            472
 Operating and finance lease obligations – current                   212                    –
Accounts payable                   364                 443
Income taxes payable                      56                   55
 Accrued expenses and other current liabilities                 412                 399
Total current liabilities                1,859             1,369
Long-term debt                   284                 481
Operating and finance  lease obligations – non-current                   573                    –
Total liabilities                2,716             1,850
Stockholders’ equity:
Common stock issued and outstanding                   633                 631
Additional paid in capital            103,252         102,927
Treasury stock                    (22)                                           (22)
Accumulated deficit            (97,577)          (95,877)
Total stockholders’ equity             6,286

           7,659

Total liabilities and stockholders’ equity  $        9,002  $        9,509

 

 

 

 

 

  Mace Security International, Inc.     
          Condensed Consolidated Statements of Operations    
          Three Months Ended December 31    
          (Unaudited)    
          (Amounts in thousands)    
               
        2019   2018 
Net sales  $        2,377  $         2,836
Cost of goods sold           1,449            2,181
Gross profit              928               655
Total depreciation                39                 48
Selling, general and administrative expenses              848            1,307
Operating income (loss)                41              (700)
Interest expense               (11)                (10)
Interest income                                18
 Interest income (expense), net               (11)                   8
(Loss) on sale of short-term investments                –                 (4)
Amortization               (69)                (67)
Other (expense), net               (35)           (1,094)
(Loss) before income taxes               (74)           (1,857)
Income tax expense                  3                   2
Net (Loss)  $           (77)  $      (1,859)

 

 

 

 

 

Mace Security International, Inc. 

 

 

 

 

 

 

 

Condensed Consolidated Statements of Operations

Twelve Months Ended December 31

 

 

 

 

 

 

 

(Audited)

 

 

 

 

 

 

 

(Amounts in thousands)

   
               
        2019   2018 
Net sales  $     10,504  $       11,489
Cost of goods sold           6,579            7,133
Gross profit           3,925            4,356
Total depreciation              163               195
Selling, general and administrative expenses           5,057            4,754
Operating (loss)                             (1,295)              (593)
Interest expense               (57)                (43)
Interest income                  4                 85
 Interest income (expense), net               (53)                 42
Gain (loss) on sale of short-term investments                (1)                   1
Amortization                                 (274)                                   (268)
Other (expense)               (74)           (1,126)
Loss before income taxes          (1,697)           (1,944)
Income tax expense                  3                   2
Net loss  $    ( 1,700)  $      (1,946)

 

 

 

 

 

 

 

Mace Security International, Inc. 
        EBIDTA and Adjusted EBIDTA 
    Three Months Ended December 31
    (Unaudited)
    (Amounts in thousands)
      2019   2018
Net income (loss)  $             (77)  $        (1,859)
Adjustments:
Interest expense                    11                     10
Interest income                     –                  (18)
Depreciation and Amortization                  108                   115
Income tax expense                      3                       2
EBITDA                    45             (1,750)
Impairment of Security Partners note                     –                   706
Impairment of SecureCheck note                    18                   358
Excess and Obsolete inventory write down                     –                   371
Other non-cash write-downs                      7                     30
Washington Labs final working capital adj.                     –                     25
Stock Based compensation                      9                     36
Adjusted EBITDA  $               79  $           (224)

 

 

 

 

 

 

 

Mace Security International, Inc. 
        EBIDTA and Adjusted EBIDTA Reconciliation    
    Year Ended December 31
    (Unaudited)
    (Amounts in thousands)
      2019   2018
Net loss  $     (1,700)  $       (1,946)
Adjustments:
Interest expense                57                 43
Interest income                (4)                (85)
Income tax expense                  3                   2
Depreciation and Amortization              437               463
EBITDA          (1,207)           (1,523)
Impairment of Security Partners note                –               706
Impairment of SecureCheck note                18               358
Excess and Obsolete inventory write down                –               371
Other non-cash write-downs                14                 79
Washington Labs final working capital adj.                –                 25
Stock Based compensation              259               156
Severance              299                 –
Inventory write-off on exit of munitions business              155                 –
Impairment of Stealth Technology/MDM  A/R              322                 –
Adjusted EBITDA  $         (140)  $           172

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

Contacts: Gary Medved President and Chief Executive Officer, gmedved@mace.com

                  Mark Barrus SVP and Chief Financial Officer, mbarrus@mace.com


February 14th, 2020

Mace Announces Fourth Quarter and Full Year 2019 Earnings Call

CLEVELAND, February 14, 2020 /ACCESSWIRE/ – Mace Security International, Inc. (OTCQX: MACE), a globally recognized leader in personal safety and security products, announces the timing of its Earnings Call for the Fourth Quarter and full year of 2019. Mace® will conduct a conference call on Thursday, February 27, 2020, at 11 AM EDT, 8 AM PDT to discuss its financial and operational performance for the fourth quarter and full year ended December 31, 2019.

Participant Toll-Free Dial-In Number: (877) 719-8065; Conference ID 4919426

A digital recording of the conference call will be available for replay after the call’s completion. The date ranges the recording will be available are listed below. To access the recording, use the dial-in number listed below and the conference ID 4919426:

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

Encore dates: 02/27/2020 14:00 Eastern Time – 04/22/2020 23:59 Eastern Time

About Mace Security International, Inc.:

Mace Security International, Inc. (MSI) is the globally recognized leader in personal safety and security. Headquartered in Cleveland, Ohio, the company has spent more than 40 years designing and manufacturing products for personal safety and security under its world-renowned Mace® Brand – the original trusted brand of defense aerosol products. The company also offers aerosol defense sprays, gels, and foams for law enforcement and security professionals worldwide through its Take Down® brand, Vigilant® Brand alarms, which are the world-wide leader and number one recognized brand in personal alarms, and Tornado ® Brand pepper spray and stun guns. MSI manufactures, distributes and supports its products through leading retailers, wholesale distributors, independent dealers, e-commerce channels, and it’s website, www.mace.com.

Forward-Looking Statements

This presentation contains certain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. The words “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “aspiration,” “objective,” “project,” “believe,” “continue,” “on track” or “target” or the negative thereof and similar expressions, among others, identify forward-looking statements. All forward looking statements are based on information currently available to management. Such forward-looking statements are subject to certain risks and uncertainties that could cause events and the Company’s actual results to differ materially from those expressed or implied. Please see the disclosure regarding forward-looking statements on the Company’s Annual Report on the OTCQX website or on www.mace.com. The company assumes no obligation to update any forward-looking statements.

Related Links
http://www.mace.com


February 12th, 2020

Mace Security International, Inc. announces new Palm Personal Stun Gun to be unveiled at SHOT Show 2020

CLEVELAND, OH / ACCESSWIRE / January 15, 2020 /  Mace Security International, Inc. (OTCQX:MACE or “the Company”), a globally recognized leader in personal safety products, will be introducing its new Palm Personal Stun Gun at the 2020 Shooting, Hunting and Outdoor Trade Show in Las Vegas NV. on January 21 through 24, 2020.

Designed for lightweight carrying and ideal for runners, the Palm Personal Stun Gun is compact, powerful, and convenient to carry. It allows runners and outdoor enthusiasts to carry reliable personal protection in the palm of their hand.

Mace CEO Gary Medved said “Runners, joggers, walkers, or anyone enjoying the outdoors can feel more confident and secure knowing they have discreet yet effective personal protection right in their hand. The Personal Palm Stun Gun is the perfect companion to our existing line of Mace ® Brand Pepper Sprays, Pepper Gels, and Personal Alarms.”

The Palm Personal Stun Gun is featured in five vibrant neon colors and has an integrated charging port. It also has an easy to use safety switch so it can be carried safely while still deploying immediately if necessary.

Visit Mace at booth number 20141 at the Sands Expo Center for more information about The Palm Personal Stun Gun and the complete line of Mace ® Brand products.

About Mace® Security International, Inc.:

Mace® Security International, Inc. (MACE) 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 and security 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, KUROS! ® Brand personal safety products, Vigilant® Brand alarms, and Tornado ® Brand pepper spray and stun guns. MACE distributes and supports Mace® Brand products through mass-market retailers, wholesale distributors, independent dealers, Amazon.com, Mace.com, and other channels. For more information, visit www.mace.com.

CONTACT:

Mark E. Barrus
Senior Vice President, Chief Financial Officer, and Secretary
Mbarrus@mace.com
(216) 539-0485

SOURCE: MACE SECURITY INTERNATIONAL INC


October 31st, 2019

Mace releases Third Quarter 2019 Financial Results

  • Net sales for the third quarter of 2019 decreased to $2,447,000 or (29%) over same period in 2018
  • Net loss of ($161,000) for the quarter, which includes charges for $14,000 for severance expenses and final charges for exit of the munitions business of $15,000
  • Adjusted EBITDA of $9,000 for the quarter

 

CLEVELAND, Ohio – Mace Security International Inc. (OTCQX: MACE) today released unaudited financial results for the quarter ended September 30, 2019.

 

The Company’s net sales for the third quarter decreased 29% over the same period in 2018, with net loss of ($161,000). EBIDTA for the third quarter of 2019 of was a loss of ($36,000), and adjusted EBIDTA was $9,000.

 

President and CEO Gary Medved commented: “We believe the Company is nearing completion of it’s resetting of operational and financial performance that began in Q1 of this year. We are pleased that our EBIDTA and adjusted EBIDTA were close to breakeven despite a reduced level of sales, which provides a foundation for future EBIDTA and profitability growth in 2020.”

 

 

Third Quarter/Year to Date 2019 Financial Highlights

 

  • Net sales decreased (29%) to $2,447,000 for the three months ended September 30, 2019 compared to $3,447,000 in the same period last year, and decreased (6%) to $8,126,000 for the nine months ended September 30, 2019 compared to $8,653,000 in the same period in 2018.
  • Gross margin percentage for the third quarter declined from 43% to 40%, while year to date gross margin percentage declined from 43% to 37% from the same period in 2018. The year to date gross margin decline includes the impact of ($124,000) for exit of the less lethal munitions business announced in Q2 (the last $15,000 of exit cost is in SG&A costs in the third quarter.)
  • SG&A expenses for the three months ended September 30, 2019 declined by ($153,000) vs. the same period from 2018.

   

 

Third Quarter 2019 Operational Highlights

 

  • The Company decreased manufacturing overhead costs by an annual rate of over $200,000 from consolidation of positions at the end of Q3, while keeping production capacity unchanged. The full impact of this overhead reduction is expected to be achieved in Q4 of 2019.
  • The Company is continuing to develop packaging with a smaller footprint which is less expensive and environmentally friendlier. In addition the Company is continuing the refresh of its products in more contemporary and vibrant colors. The combined impact of packaging, logo design, and new product colors offers retail customers greater choice and flexibility in product placement as they finalize their upcoming 2020 product lineups.

 

 

 

Conference Call

 

Mace® will conduct a conference call on Thursday October 31, 2019 at 1 PM EDT, 10 AM PDT to discuss its financial and operational performance for the quarter.

Participant Toll-Free Dial-In Number: (877) 719-8065; Conference ID 8266357

 

A full set of the consolidated financial statements are available on www.Mace.com. A digital recording of the conference call will be available for replay two hours after the call’s completion. The time period that the recording will be available is listed below. To access the recording, use the dial-in number listed below and the conference ID 8266357.

Encore dial-in number: 800-585-8367 or 855-859-2056 (or internationally on 404-537-3406)
Encore dates: Will be available 2 hours after the call and will expire at 23:59 on 05 Nov 2019 .

 

About Mace Security International, Inc.

 

Mace Security International Inc. is a globally recognized leader in personal safety products. Based in Cleveland, Ohio, the Company has spent more than 30 years designing and manufacturing consumer and tactical products for personal defense and security under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The Companies other leading brands include Tornado® Brand stun guns and pepper spray, and Vigilant® Brand alarms. The Company also offers aerosol defense sprays for law enforcement and security professionals worldwide through its Take Down® Brand.

Mace Security International distributes and supports its products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce channels and through its website, www.Mace.com. 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.

 

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