Mace Press Releases

August 6th, 2018

Mace Reports Second Quarter 2018 Financial Results

 

Mace Reports Second Quarter 2018 Financial Results

  • Net sales up 13.3%; $333,000 improvement over Q2 2017
  • Gross profit of $1,216,000; $203,000 improvement over Q2 2017
  • EBITDA improvement of $16,000 over Q2 2017
  • Adds 17 new customers in the quarter, and 43 new customers in 2018

 

CLEVELAND – August 6, 2018 – Mace Security International, Inc. (OTCQX: MACE) today released unaudited financial results for the quarter ended June 30, 2018.

The Company is pleased to announce another positive quarter with second quarter net sales of $2,843,000, a 13.3% increase over prior year second quarter. The Company, following a first quarter of 38% increased revenues, continued to grow revenues, gross profit margins, and EBITDA. Second quarter 2018 EBITDA increased $363,000 on a 20.3% or $479,000 increase in revenues over the first quarter. The increases in revenues came from the consumer products segments and the successful integration of the Company’s two recent acquisitions. The Company is continuing its efforts to increase profits by implementing efficiencies in production and realigning its go to market strategy.

 

Second Quarter/Six Months 2018 Financial Highlights – Compared to 2017

  • Net sales up 13.3% for quarter; $333,000 improvement over 2017, up 23.4% year-to-date
  • Gross profit up 20.0% for quarter; $203,000 improvement over 2017, up 30.6% year-to-date
  • Positive EBITDA of $140,000 reported for the quarter; $16,000 improvement over 2017, $94,000 year-to-date improvement

 

Select Consolidated Financial Results, Second Quarter Ended June 30, 2018 and 2017

(in thousands):

For the Three Months Ended
June 30, % of Sales June 30, % of Sales
2018 2017 $ Chg
Net sales $     2,843 100.0% $     2,510 100.0% 333
Gross profit       1,216 42.8%           1,013 40.4%                 203
Selling, general, and administrative expenses        1,085 38.2%              866        34.5%     (219)
Operating income        83 2.9%                97 3.9% (14)
Net income                  41 1.4%             110     4.4%    (69)
EBITDA 140 4.9%              124 4.9%     16

 

 

Second Quarter 2018 Operational Highlights

The Company continued to show growth and improvements in revenues, gross profit and EBITDA. The 200 basis point improvement in gross margin was significant and is a combination of increased efficiencies, a good mix of product sales, and distribution. Although the Company is pleased with the improvements, there are a number of initiatives underway which will help the Company achieve greater heights and profitability in the near future. “Our goal as a company has always been to be the thought leader and best in class organization for personal protection products. We will continue to work hard to achieve this goal”. Stated John McCann President and CEO

Letter from the Chairman

A letter from the Chairman of the Board, Chuck Gehrisch, and Vice Chairman, Sanjay Singh to Shareholders can be accessed by visiting Mace.com, Investor Relations: http://corp.mace.com/investor-relations/shareholder-transcripts-presentations/

Investor Information

Mace® will conduct a conference call on Tuesday, August 7, 2018 at 11:00 AM EDT, 8:00 AM PDT to discuss its financial and operational performance for the quarter ended June 30, 2018. The participant conference call number is (877) 719-8065, conference ID: 5099795. A full set of the consolidated financial statements are available on the Mace website. Presentation materials for the conference call will be available Tuesday,

August 7, on Mace’s website under Investor Relations, Shareholder Transcripts & Presentations http://corp.mace.com/investor-relations/shareholder-transcripts-presentations/ A 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 designs and manufactures consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products and Vigilant® Brand alarms, the world-wide leader and number one recognized brand in personal alarms. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® and Take Down® brands. For more information, please visit www.mace.com.

 

Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

press@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,

2018

(unaudited)

  December 31, 2017
Current assets:
Cash and cash equivalents $      182 $           662
Short-term investments 262 251
Accounts receivable, net            1,720            1,622
Inventories, net            2,497            2,317
Notes receivable and other current assets 878 1,143
Total current assets            5,539          5,995
Property and equipment, net              806 781
 

Goodwill

             877 771
Intangible assets, net            3,077            3,211
Notes receivable and other assets 764              906
Total other assets            4,718          4,888
Total assets $     11,063 $       11,664

 

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt $     567 $              427
Accounts payable              309 457
Income taxes payable                55 62
Accrued expenses and other current liabilities 357 633
Total current liabilities          1,288          1,579
Long-term debt, net of current portion              581 678
Other liabilities 2
Total liabilities 1,869 2,259
Total stockholders’ equity        9,194 9,405
       Total liabilities and stockholders’ equity $     11,063 $        11,664

 

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Three Months Ended June 30, 2018 and 2017

(Unaudited)

(Amounts in thousands)

 

 

2018   2017
Net sales $       2,843 $     2,510
Cost of revenue          1,627 1,497
Gross profit 1,216        1,013
Selling, general, and administrative expenses        1,085 866
Depreciation          48 50
Operating income      83        97
Interest expense              (13) (12)
Interest income 29 25
Gain on short-term investments 9
Amortization of intangible assets (67)
Income from continuing operations before income tax provision 41 110
Income tax provision                –
Income from continuing operations 41              110
Loss from discontinued operations, net of tax of $0 (23)
Net income $     41 $ 87
EBITDA $ 140 $ 124

  

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Six Months Ended June 30, 2018 and 2017

(Unaudited)

(Amounts in thousands)

 

 

2018   2017
Net sales $       5,207 $     4,220
Cost of revenue          3,003 2,533
Gross profit 2,204        1,687
Selling, general, and administrative expenses        2,298 1,831
Depreciation          97 90
Operating loss      (191)        (234)
Interest expense              (28) (18)
Interest income 49 54
Gain on short-term investments 11 (11)
Amortization of intangible assets (134)
Loss from continuing operations before income tax provision (293) (209)
Income tax provision                –
Loss from continuing operations (293)              (209)
Loss from discontinued operations, net of tax of $0 (22)
Net loss $   (293) $ (231)
EBITDA $       (83) $   (177)

 


August 3rd, 2018

Mace® Security International, Inc. Launches New Website

CLEVELAND, Ohio (August 2, 2018) – Mace® Brand, the #1 brand in safety and security, has launched a new website. The site includes updates that will help customers get the information they need faster.

Customers can now easily find a dealer near them, use a smart search to help with ease of use on site, and read educational blogs on safety and security. If you’re unsure of what product might be best for your lifestyle or daily activities, the new product selector will help narrow it down for you.

“We are excited to launch this new site,” says Executive Vice President of eCommerce for Mace Brand David Happe. “We really focused on ensuring that the new site is designed to meet our business goals and to provide the best user experience for our customers to ensure they get the products that will help them best.”

Mace Brand partnered with marketing agency Gray Loon Marketing Group, experts in digital marketing, to ensure that the site functions flawlessly and provides the best user design and flow. The site tells the brand story in a fresh way and provides users with the information they need.

“It’s amazing working with such a big brand name like Mace Brand,” says co-owner of Gray Loon Marketing Group, Brita Turbyfill. “We’re proud to partner with a company that saves lives by providing practical safety and security solutions.”

To see the new website, visit Mace.com.

Mace Brand Pepper Sprays are a less-lethal self-defense alternative for anyone 18 years of age or over, and can be purchased at leading retailers and independent dealers across the country. Our Pepper Sprays are offered in many different sizes, formulations and delivery systems designed to meet the needs and applications of both civilians and professionals. Mace Brand also offers Personal Alarms and Stun Guns to complete your personal defense strategy.

Mace Brand product solutions are available at fine retailers and online across the globe including Dick’s Sporting Goods, Wal-Mart Stores, Ace Hardware, Autozone, Amazon and 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. MIS 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, visit www.mace.com.

 

Contact:
John J. McCann
President and Chief Executive Officer
press@mace.com


July 11th, 2018

Mace Discloses Supplemental Information Regarding Bonus and Voting Agreements

 

CLEVELANDJuly 11, 2018 – Mace Security International, Inc. (OTCQX: MACE) today announced that it has posted amended supplemental exhibits on the OTCQX website. These exhibits provide greater detail related to certain previously disclosed bonus and voting agreements.

The Bonus Agreement aligns the company’s new lead investors with all shareholders and is based on annual EBITDA growing above a threshold level starting at $1 million. The Voting Agreements between certain large Mace shareholders were entered into with a goal of providing continued stability in Mace’s Board composition. They do not bind and have no effect on how any of Mace’s directors vote on Board matters.

These agreements continue to be available for shareholder viewing in their entirety at Mace’s headquarters located at 4400 Carnegie Avenue, Cleveland, OH 44103. Click on the following link to access the amended supplemental exhibits: https://backend.otcmarkets.com/otcapi/company/financial-report/197176/content

 

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 designs and manufactures consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products and Vigilant® Brand alarms, the world-wide leader and number one recognized brand in personal alarms. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® and Take Down® brands.

 

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


June 21st, 2018

Mace Announces 2018 Annual Shareholders’ Meeting Voting Results

CLEVELANDJune 21, 2018 – Mace Security International, Inc. (OTCQX: MACE) today announced shareholder voting results for its Annual Shareholders’ Meeting. Approximately 73.11% of all outstanding shares were present or represented by proxy or ballot at the meeting.

The Company reported that shareholders approved the election of each of Mace’s 7 director nominees to serve until the 2019 Annual Shareholders’ Meeting. Each director nominee received affirmative votes from approximately 93.21 percent or more of the shares voted, excluding abstentions and broker non-votes. The results are as follows:

Denis J. Amato – 93.23%
Richard A. Barone – 93.52%
Terrance W. Gainer – 95.67%
George C. Gehrisch – 93.23%
John J. McCann – 93.21%
Cheryl B. McMillan – 95.67%
Sanjay Singh – 93.26%

Shareholders also ratified the appointment of Skoda Minotti & Co. as Mace’s independent public accounting firm for fiscal year 2018, with affirmative votes from approximately 99.80% of the shares that were present in person or represented by proxy at the meeting and entitled to vote.

During the meeting, Mace President and CEO John McCann provided shareholders with an overview of the market, products, and financial results for the first quarter ending March 31, 2018. Mr. McCann commented, “In the First Quarter, Mace achieved a 38% increase in revenues coupled with a 48% increase in gross profits so the trend lines are strong for the company. We are excited about the additions to our board of directors who will assist the company in achieving even greater success”.

The Company also provided shareholders present at the meeting the opportunity to view a Bonus Agreement between the Company and two Director Advisors, and Voting Agreements between MACNFAC, LLC a subsidiary of Roll-Kraft, Inc., owning approximately 20% of the Company’s outstanding shares, and Ancora Advisors, LLC, Richard Barone, and Denis Amato. These agreements, the material terms of which were previously disclosed on the OTCQX and in the Company’s press release dated March 12, 2018, are available for shareholder viewing in their entirety at Mace’s headquarters located at 4400 Carnegie Avenue, Cleveland, OH 44103.

 

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 designs and manufactures consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products and Vigilant® Brand alarms, the world-wide leader and number one recognized brand in personal alarms. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® and Take Down® brands.

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.


May 14th, 2018

Mace Reports First Quarter 2018 Financial Results

Mace Reports First Quarter 2018 Financial Results

  • Net sales up 38.2%, $654,000 improvement over 2017
  • Gross profit of $988,000, $314,000 improvement over 2017
  • EBITDA improvement of $79,000 over 2017
  • Adds 26 new accounts in the quarter, expanding the Company’s brand presence

 

CLEVELAND – May 14, 2018 – Mace Security International, Inc. (OTCQX: MACE) today released unaudited financial results for the quarter ended March 31, 2018.

The Company is pleased to announce a positive first quarter with net sales of $2,364k, a 38.2% increase over prior year first quarter. The Company continues to grow its top line sales through organic growth and strategic acquisitions reflecting growth in all major distribution channels. Additionally in the quarter, the Company continued to invest in people, advertising, and social media campaigns to drive sales and distribution. The Company will continue to invest in the brand to maintain its market share and brand leadership.

“Our growth in the first quarter reflects the value and strength of the Mace Brand as we continue to expand the brand across product lines and distribution channels”, stated Creative Director Jessica Adanich.

Lastly, our new board of directors is assisting the Company in refining its long term strategies to insure the company and management team optimizes its resources and prioritizes opportunities.

 

First Quarter 2018 Financial Highlights – Compared to 2017

  • Net sales up 38.2% for quarter; $654,000 improvement over 2017
  • Gross profit up 46.6% for quarter; $314,000 improvement over 2017
  • Negative EBITDA of $223,000 reported for the quarter; $79,000 improvement over 2017

 

 

The Company maintained its leadership position with consumers as it continued to add new less lethal products including personal alarms, pepper spray models, and product combo kits. The Company, through organic growth, expanded its retail presences by adding 26 new accounts, and continued its e-commerce and international expansion efforts. “Mace, through investments and focus, is expanding its e-commerce presence and continues its efforts to strengthen brand and consumer awareness through social media campaigns” stated John McCann, President and CEO.

 

First Quarter 2018 Operational Highlights

The Company would like to direct investors to www.Mace.com for a full set of the consolidated financial statements, OTCQX Quarterly report, and first quarter 2018 investor presentation. Although the Company is not planning to conduct its usual quarterly conference call after release of the first quarter’s earnings, the Company will communicate its strategy and future plans with investors through conference calls, social media, and investor conferences starting with the LD Micro Invitational on June 4th, 2018. The Company will communicate future investor calls via press releases and social media.

 

Investor Information

The Company will continue to provide information via the OTC marketplace as usual. The Company plans on attending the LD Micro Invitational investor conference in Bel Air, California from June 4th to 6th, 2018. The Company will present on June 4th at 1:00 PM. For more information about the conference please visit: https://www.ldmicro.com/events

 

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 designs and manufactures consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products and Vigilant® Brand alarms, the world-wide leader and number one recognized brand in personal alarms. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® and Take Down® brands..

 

For more information, please visit www.mace.com.

Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

press@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.

# # #

 

 

 



April 26th, 2018

Mace Security International, Inc. Announces Resignation of Director

CLEVELAND – April 26, 2018 – Mace Security International, Inc. (OTCQX: MACE) today announced the resignation of Suzanne M. Hopgood.

Ms. Hopgood resigned from the Mace Board of Directors effective April 19, 2018.   Ms. Hopgood has served on Mace’s Board since 2014 and was the Chairperson for the Nominating and Corporate Governance Committee.

“The Board and Management want to thank Suzanne for her contributions, guidance, and expertise in assisting the Company with its Corporate Governance requirements”, stated John McCann, CEO.

Prior to Ms. Hopgood’s resignation, the Nominating and Corporate Governance Committee recommended Cheryl B. McMillan to the Mace Board of Directors. Her appointment is subject to shareholder approval at the upcoming 2018 Annual Meeting of Shareholders. Ms. McMillan consults with middle market CEOs and senior managers by assisting them with sharpening their managerial skills with a focus on operational and financial improvements.  Ms. McMillan is a CPA and received her BS in Accounting and a Masters in Management from the University of Akron. A more detailed biography on Ms. McMillan will be provided in this year’s proxy statement.

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 designs and manufactures consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products and Vigilant® Brand alarms, the world-wide leader and number one recognized brand in personal alarms. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® and Take Down® brands.


April 2nd, 2018

Mace Security International, Inc. partners with Evy Poumpouras to represent the Mace Cares Empower Product Line

Cleveland, OH – Mace Security International, Inc. (MSI) is partnering with on-air national TV correspondent and former Secret Service special agent Evy Poumpouras as a spokesperson for Mace Brand and also to promote the Empower line, a new purple less-than-lethal products that were launched earlier this year.

The Empower line is a part of the Mace Cares program, which was established in 2013 as a way to provide support and assistance for individuals at risk. The goal of the Mace Brand Empower line is to raise awareness and ultimately end domestic violence everywhere.

Proceeds from the sale of Mace Cares Empower line products go to the following charities: Center Against Domestic Violence, Domestic Violence & Child Advocacy Center and Futures Without Violence.

“We are incredibly excited and honored to be working with Evy as her experience and knowledge is second to none,” said John McCann, president and CEO of MSI. “She’s truly an expert in the field and is very passionate about our new Mace Cares Empower initiative.”

In addition to her past experience as a former Secret Service special agent, Poumpouras frequently appears on NBC, MSNBC, CNN and HLN as an on-air security analyst, covering a wide range of topics, such as national security, law enforcement, crime, behavioral analysis and more. Poumpouras will bring her expertise and safety experience to the program to help expand its reach.

“When it comes to personal safety, it’s incredibly important for each person to feel empowered with the right tools for self-protection. My hope is that with partnering with Mace Cares, we’ll collectively work together to improve the lives of those who have experienced domestic violence, and put an end to potential future violence,” said Poumpouras.

Stay tuned to www.mace.com and Mace Brand’s social media channels (@MaceBrand) for announcements of upcoming events with Poumpouras.

 

###

 

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. MIS 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, visit www.mace.com.

 

Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

john@mace.com


March 28th, 2018

Mace Reports Fourth Quarter and Full-Year 2017 Financial Results

  • Net sales up 10.3% for the year, $929k improvement over 2016
  • Operating income of $94,000 for the year, $283,000 improvement over 2016
  • EBITDA of $270,000 for the year, $323,000 improvement over 2016
  • Adds 112 new accounts in 2017
  • Strategic acquisitions expand revenues

 

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

The Company is pleased to announce another year of growth in 2017. The Company has grown its top line sales through organic growth and strategic acquisitions during the past year while managing spending and operations to turn a profit at the same time. The Company in 2017 added 112 new accounts across all channels of commerce.

The acquisitions contributed in part to the Company finishing the year with $270,000 in positive EBITDA. Outgoing Chairman Richard Barone stated: “The work which was started over five years ago is paying off for the investors and the Company. Although we are pleased with the results we do see bigger and better things for the Company in the future.”

The Company additionally launched several new products and repositioned its self to compete in the ever evolving retail environment by implementing the following:

  • Company added key staff to help it compete effectively in the growing e-commerce channel
  • Added several new products in 2017
  • Streamlined operations to serve its customers effectively and efficiently
  • Made investments in advertising and branding to promote and protect the trademarks and the Company’s brands

The Company acknowledges and thanks former Board members Dan Perella and Carl Grassi for their contributions and hard work over the past several years with helping place the foundation for future success.

Fourth Quarter/ Full-Year 2017 Financial Highlights – Compared to 2016

  • Net sales up 31.1% for quarter; up 10.3% year-to-date
  • Gross profit up 64.9% for quarter; up 19.5% year-to-date
  • EBITDA of $74,000 reported for the quarter; $270,000 year-to-date

   

Select Consolidated Financial Results, Fourth Quarter Ended December 31, 2017 and 2016

(in thousands):

 

For the Three Months Ended
Dec 31, 2017 % of Sales Dec 31, % of Sales
2016 $ Chg
Net sales $2,935 100.0% $2,238 100.0% 697
Gross profit 1,423 48.5% 863 38.6% 560
Selling, general, and administrative expenses 1,348 45.9% 947 42.3% 401
Operating income (loss)  26 0.9% (123) (5.5%) 149
Net income (loss) (30) (1.0%) 120 5.4% 150
EBITDA 74 2.5% (103) (3.8%) 177

 

Fourth Quarter / Full Year 2017 Operational Highlights

The Company, by expanding its revenue base with the 2017 acquisitions of Washington Laboratories and Vigilant, was able to grow revenues by 10.3% despite a cyclical downturn in international sales and sluggish sales in the sporting goods channel in 2017. The acquisition of Washington Laboratories added stable top line growth. The increased production volume and automation derived from this acquisition increased overall profitability by lowering per unit costs. The Vigilant acquisition, and addition of David Happe to the Mace team, provided the Company with an instant vibrant e-commerce presence both domestically and internationally as well as the expertise to manage and grow this critical segment. “Mace was the perfect partner for me as they have the brand, the infrastructure and the tools to raise the ceiling on my goals and abilities” stated David Happe.

Conference Call

Mace® will conduct a conference call on Thursday, March 29, 2018 at 11:00 AM EDT, 8:00 AM PDT to discuss its financial and operational performance for the quarter and full-year ended December 31, 2017. The participant conference call number is (877) 719-8065, conference ID: 7699986.A full set of the consolidated financial statements are available on www.Mace.com. 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.

 

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 December 31, 2017   December 31, 2016
Current assets:
Cash and cash equivalents $662 $970
Restricted cash

Short-term investments

251

60

1,794

Accounts receivable, net 1,622 1,655
Inventories, net 2,317 1,568
Notes receivable and other current assets 1,143 952
Total current assets  5,995 6,999
 Property and equipment, net  781  714
Goodwill 771
 

Intangible assets, net

3,211 685
Notes receivable and other assets 906 1,184
Total other assets 4,888 1,869
Total assets $11,664  $9,582
  

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt $427 $-
Accounts payable 457 194
Income taxes payable 62 60
Accrued expenses and other current liabilities 633 518
Total current liabilities 1,579 772
Long-term debt, net of current portion 678
Other liabilities 2 4
Total liabilities 2,259 776
Total stockholders’ equity 9,405 8,806
     Total liabilities and stockholders’ equity $11,664 $9,582

 

 

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Three Months Ended December 31, 2017 and 2016

(Amounts in thousands)

  

2017         2016

Net sales

$2,935 $2,238
Cost of revenue 1,512 1,375

Gross profit

1,423

863

Selling, general, and administrative expenses 1,348 947
Depreciation 49 39
Operating income (loss) 26 (123)
Interest expense (15) (13)
Interest income 25 34
Loss on sale of short-term investments (1) (15)
Amortization of intangible assets (63)
Other expense, net (4)
Loss from continuing operations before income tax provision (28) (121)
Income tax (benefit) provision 2 (19)
     
Loss from continuing operations (30) (102)
Income from discontinued operations, net of tax 222
Net income (loss) $(30) $120

 

 

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Twelve Months Ended December 31, 2017 and 2016

(Audited)

(Amounts in thousands)

 

2017   2016
Net sales $9,983 $9,054
Cost of revenue 5,580 5,369
Gross profit 4,403 3,685
Selling, general, and administrative expenses 4,121 3,719
Depreciation 188 155
Operating income (loss) 94 (189)
Interest expense (45) (48)
Interest income 96 136
Loss on sale of short-term investments (12) (15)
Amortization of intangible assets (174)  –
Other expense, net (4)
Income (loss) from continuing operations before income tax provision (41) (120)
Income tax (benefit) provision 2 (19)
     
Loss from continuing operations (43) (101)
Income (loss) from discontinued operations, net of tax (22) 351
Net income (loss) $(65) $250

 

 

Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

john@mace.com

 


March 12th, 2018

Mace Security International, Inc. appoints Chuck Gehrisch and Sanjay Singh to its Board of Directors

CLEVELAND, Ohio – Mace Security International, Inc. (MSI) (OTCQX:MACE) announced that RKI, Inc., d/b/a Roll-Kraft, has acquired  shares of the Company’s common stock from accounts managed by Ancora Advisers, LLC   As a result of this transaction, Roll-Kraft now owns 20% of the Company’s outstanding shares. Contemporaneous with the transaction, Chuck Gehrisch, CEO of Roll-Kraft, and Sanjay Singh, President of Roll-Kraft, were appointed to the Company’s Board of Directors, effective March 9, 2018.

Carl Grassi and Daniel Perella have respectfully resigned from the board effective March 9th, Both Dan and Carl had previously expressed their desire to resign due to personal and professional reasons.

“We want to thank Dan Perella and Carl Grassi for their exceptional leadership and hard work, as we welcome our new board members who will bring new talent, expertise and energy to the company,” said Richard Barone. “We are very fortunate to have a very talented board of directors.”

The board has created the roles of Executive Chairman and Executive Vice Chairman to work with the CEO and the current management team on operational efficiency with the goal of creating an even more robust company. The Executive Chairman and Executive Vice Chairman will be eligible to receive compensation for their services based on certain improvements in the Company’s financial performance.

Mr. Gehrisch has been elected as Executive Chairman, replacing Richard Barone, who resigned as Chairman but remains on the board. Mr. Singh has been elected to the newly created position of Executive Vice-Chairman. A letter written by Mr. Barone is available for review here and has been mailed to shareholders. 

As part of the transaction, Roll-Kraft and Ancora have entered into a mutual voting agreement with the goal of continued stability and oversight for the company.

 

About George C. “Chuck” Gehrisch, Jr.

Mr. Gehrisch is the Chairman and CEO of Roll-Kraft in Mentor, OH.  His entire career has been devoted to building local business, creating hundreds of jobs and providing custom tooling to roll forming, tube and pipe manufacturers around the world.  Roll-Kraft tooling is used to produce thousands of items used by the public every day.

Prior to holding his position as Chairman and CEO of Roll-Kraft, Mr. Gehrisch led the company as President for more than 20 years.   He expanded Roll-Kraft’s outreach to include a worldwide presence and the company outgrew its facilities and moved into a state-of-the-art 110,000 sq. ft. building in Mentor, OH.   In addition, Mr. Gehrisch opened other privately held Roll-Kraft facilities in Chicago, Illinois; Houston, Texas; and Woodbridge, Ontario, Canada.

Mr. Gehrisch’s innovative direction has led Roll-Kraft to actively focus on the exceptional goal of providing customers with 100% on-time deliveries and first-time performance.  Through his consistent leadership, the company has become known around the world as an industry leader for its superior service and reliable quality tooling.

About Sanjay Singh

Mr. Singh is the President of Roll-Kraft, where he directs and leads the company’s efforts to excel in operational efficiencies and market penetration. He has most recently sharpened the company’s continuous improvement focus to meet the company’s goals of 100% on-time delivery and first-time performance.

He also leads the company’s private investment initiatives in lower middle market companies located in northeast Ohio. Mr. Singh has held various financial executive leadership roles in Fortune 1000, privately held and private equity backed portfolio companies across various industries, including consumer products, manufacturing and service. Mr. Singh was actively involved in acquisitions and operational improvements in those businesses.

Mr. Singh has a Bachelor’s degree in Accounting and an MBA. He currently serves as an advisor to the Board of two non-profits and a technology startup.

 

###

 

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. MIS 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, visit www.mace.com.

 

Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

john@mace.com


March 7th, 2018

Mace Security International Inc. Announces E-commerce Expansion to European Union

CLEVELAND, Ohio – After establishing a logistics network including fulfillment partnerships, and meeting all of the regulatory requirements for distribution in Europe, Mace Security International Inc. (MSI) is launching distribution to the European Union (EU).  MSI completed the first Vigilant brand test model shipment to our European distribution center and successfully sold the first product in Europe this week.

“International e-commerce is one of the pillars of Mace’s continued global expansion,” said David Happe, EVP of e-commerce for MSI. “We are excited about the potential for incremental revenue and profit through this high velocity new sales channel.”

Following that successful test, several additional models will be activated for shipment to Europe throughout March, including various Mace Brand items and Vigilant Personal Protection Systems alarms.

“We are in a unique position for rapid expansion, due to the fact that our electronics products all meet the high performance standards and regulatory requirements for marketing in the EU,” said Happe. “We see this e-commerce expansion potential in the EU for Mace products that could some day rival our United States online efforts.”

Mace Brand and Vigilant Personal Protection Systems alarms products will be initially available to customers in France, Italy, Spain, Germany and the UK with additional planned international distribution expansion later in 2018.

 

###

 

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. MIS 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, visit www.mace.com.

 

Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

john@mace.com 

 

Forward-Looking Statement

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.