Mace Press Releases

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.

 

Read the rest of this entry »


October 10th, 2019

Mace (MACE:OTCQX) Announces Timing of Third Quarter Earnings Call

 

Investor Relations Contact:

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

Timing of Q3 Earnings Call Announced

CLEVELAND, October 10, 2019 /ACCESSWIRE/ – Mace® Security International, Inc. (OTCQX: MACE), a globally recognized leader in personal safety products, announces the timing of it’s Earnings Call for the Third Quarter of 2019. 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 ended September 30, 2019.

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

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 8266357:

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: 10/31/2019 16:00 Eastern Time – 11/05/2019 23:59 Eastern Time

About Mace® Security International, Inc.:

Mace® Security International, Inc. (MSI) 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, Vigilant® Brand alarms which are the world-wide leader and number one recognized brand in personal alarms, and Tornado ® Brand pepper spray. MSI distributes and supports Mace® Brand products and services through mass market retailers, wholesale distributors, independent dealers, e-commerce channels, and other distributors. For more information, visit 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


October 1st, 2019

The Origin of the Mace (R) Brand

 

Did you know?

Chemical Mace was originally invented in 1965 by Allan Lee Litman. Litman’s formula packaged phenacyl chloride (CN) tear gas dissolved in hydrocarbon solvents into a small aerosol spray can. Primarily sold to police forces, the name gained popularity over the years. The term “got maced” referred to being sprayed in the face with Mace® Brand chemical spray.  Due to the toxicity of CN, the chemical formula evolved over the years to replace CN with oleoresin capsicum (OC) pepper spray, made from naturally grown peppers grown around the world. OC also demonstrates superior incapacitating properties relative to CN.

Our company was founded in Vermont in 1987 and obtained an exclusive license to produce and market defense sprays under the Mace® Brand trademark. In 1993, the Company purchased all rights, title and interest to the Mace® Brand. We are the original Mace ® Brand!

Today, Mace® Brand pepper sprays contain OC as the primary active ingredient. The only other ingredients in Mace® pepper sprays are solvents and propellant. We go to great lengths to protect our great brand, so please, when speaking of pepper spray, please refer to the product as “pepper spray” if it is not a Mace® Brand product. If it is a Mace® Brand product, please refer to it as Mace® Brand pepper spray.

We pride ourselves on being the Original and Authentic Mace® Brand pepper spray, with our manufacturing facility located in Cleveland, OH.


September 24th, 2019

Mace ® Brand Releases College Safety Tips for Back to Campus

 

CLEVELAND, Ohio – (ACCESSWIRE) – September 24, 2019 – Mace Security International, Inc. (OTCQX: MACE), a globally recognized leader in personal safety products, has released tips on College Student and Campus Safety on its website www.mace.com.

“Being safe on campus is a big priority for students. You can protect yourself by becoming informed and taking the necessary precautions.” said Gary Medved, CEO/President of Mace Security International. “ The Mace.com website has helpful articles and tips on campus safety and personal protection, and also has guides showing the safe use of pepper sprays such as our world-renowned Mace ® Brand.”

“We are – and have always been – committed to helping students feel more secure, confident and ready on campus” concluded Medved.

###

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. MSI 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:
Gary Medved
CEO/President of Mace® Security International, Inc.
440-424-5322
press@mace.com


August 7th, 2019

Mace Reports Second Quarter 2019 Financial Results

 

• Net sales for the quarter increased to $2,967,000 or 4.4% over same period in 2018

• Net loss of ($606,000) for the second quarter, which includes non-cash charges for a reserve of a customer receivable of $322,000 and charges for exit of the munitions business of $140,000, compared to net income of $41,000 for the same period in 2018. Net loss for the six months ended June 30, 2019 was ($1,462,000) compared to a net loss of ($293,000) for the same period in 2018

• EBITDA of ($481,000) and adjusted EBIDTA of ($5,000) for the second quarter

 

CLEVELAND, Ohio – Mace Security International Inc. (OTCQX: MACE) announces its unaudited financial results for the quarter ended June 30, 2019.

The Company is pleased to announce another quarter of revenue growth of 4.4% over the same period in 2018. The Company’s net loss in the quarter includes non-cash charges relating to a write-down of a customer receivable of $322,000, and charges to exit its less-lethal munitions business $140,000.

President and CEO Gary Medved commented: “We are pleased that the Company has seen another quarterly increase in net sales versus the prior year. After adjusting for the impact of the customer receivable reserve increase, we were able to hold SG&A as a percentage of revenue in line with the prior year, while continuing our investments in recruiting talent, eCommerce capabilities, and brand awareness. Many of the actions necessary thus far in 2019 are necessary to reposition Mace for improved future financial performance.”

Second Quarter/Year to Date 2019 Financial Highlights

• Net sales increased 4.4% for the three months ended June 30, 2019 over the same period least year, and 9% for the six months ended June 30, 2019 over the same period in 2018.
• Gross profit decreased $259,000 compared to the same quarter in 2018.
• Gross margin for the quarter declined from 43% to 32% (or 37% after adjusting for the Less-lethal munitions charge.). This decline was due to manufacturing labor and overhead variances in the quarter.
• After adjusting for the $322,000 increase in accounts receivable reserve, SG&A expenses for the three months ended June 30, 2019 were approximately equal to the same period from 2018.

Second Quarter 2019 Operational Highlights

• The Company made the decision to exit the less lethal munitions business, while continuing its popular Take-Down ® products for the law enforcement and tactical community. This decision is expected to free up over $20,000 per month to redeploy towards higher margin and faster growing products and channels.
• The Company is continuing to develop products, packaging, and image for the new KUROS! ® and USPS ® brands, which were announced at the July Investors Day at Mace headquarters.
• Mace.com was also upgraded to enhance its mobile features and make the site more user friendly.

Conference Call

Mace® will conduct a conference call on Thursday August 8, 2019 at 2 PM EDT, 11 AM PDT to discuss its financial and operational performance for the quarter.
Participant Toll-Free Dial-In Number: (877) 719-8065; Conference ID 9593103
International Toll Number (918) 398-4757

A full set of the consolidated financial statements will be available on www.Mace.com tomorrow morning prior to the company’s earnings call. 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 6966839.

Encore dial-in number: (855) 859-2056 or (404) 537-3406
Encore dates: 08/08/2019 17:00 Eastern Time – 08/13/2019 23:59 Eastern Time

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety products. Based in Cleveland, Ohio, the Company has spent more than 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, Inc. 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.

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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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

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


August 2nd, 2019

Mace Announces Timing for Second Quarter Earnings Call

 

Investor Relations Contact:

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

                                                                                                            

CLEVELAND, August 2, 2019 /ACCESSWIRE/ – Mace® Security International, Inc. (OTCQX: MACE), a globally recognized leader in personal safety products, announces the timing of it’s Earnings Call for the Second Quarter of 2019. Mace® will conduct a conference call on Thursday, August 8, 2019, at 2 PM EDT, 11 AM PDT to discuss its financial and operational performance for the quarter ended June 30, 2019.

Participant Toll-Free Dial-In Number: (877) 719-8065; Conference ID 9593103
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 9593103:

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: 08/08/2019 17:00 Eastern Time – 08/13/2019 23:59 Eastern Time

About Mace® Security International, Inc.:

Mace® Security International, Inc. (MSI) 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, Vigilant® Brand alarms which are the world-wide leader and number one recognized brand in personal alarms, and Tornado ® Brand pepper spray. MSI distributes and supports Mace® Brand products and services through mass market retailers, wholesale distributors, independent dealers, e-commerce channels, and other distributors. For more information, visit 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


July 30th, 2019

Mace® Brand and Kuros! Team Up to Empower Women Around the World

 

The organizations will work together to provide free pepper spray and training to at-risk women.

CLEVELAND, Ohio – July 30, 2019 – Mace® Security International, Inc. (OTCQX: MACE), a globally recognized leader in personal safety products, is pleased to announce its partnership with Kuros!, a social impact brand based in Austin, Texas. Together, Kuros! with the help of Mace® Brand will deliver free cans of pepper spray and training to women who face increased risks of sexual assault and violence in developing countries. The aim is to help women live more safe, secure and confident lives.

Founded in 2013 by entrepreneur Kuro Tawil, Kuros! takes a proactive approach to combating gender-based violence against women. Over the last six years, the organization has teamed up with trusted distribution partners and Women’s Rights Group’s to make free pepper spray available to women in India, South Africa, El Salvador and the Philippines.

“Pepper spray doesn’t just give these women a powerful way to protect themselves – it enhances their mobility and outlook on life,” said Tawil. “Already trusted by women everywhere, Mace® Brand is the perfect partner to help us extend our mission on an even bigger, more global scale.”

Mace® Brand has launched an exclusive Kuros! branded product line, including a Kuros! Pepper Spray with UV Dye, Kuros! Personal Alarm with Keychain and a Kuros! Combo Kit, to raise awareness and support the cause. Every product sale will help fund the delivery of free pepper spray to women in need.

“We are – and have always been – committed to helping people feel more secure, confident and ready as they walk through the world,” said Gary Medved, CEO/President of Mace® Security International. “The Kuros! partnership provides the opportunity to get pepper spray into the hands of women who truly need it to not only survive, but thrive within their communities.”

The Kuros! branded personal defense products are available for purchase at www.mace.com.

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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. MSI 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.

About Kuros!
Kuros! is a humanitarian lifestyle brand that puts vital self-defense products in the hands of women around the world. From South Africa and India to El Salvador and Manila, the organization is giving women a fighting chance at protecting themselves from assault and living their fullest lives without fear.
www.kuros.com

Contact:
Gary Medved
CEO/President of Mace® Security International, Inc.
440-424-5322