Mace Press Releases

August 3rd, 2016

Mace Reports First Quarter 2016 Financial Results

-       Net revenue up 39.7%

-       Gross profit  up 48.3%

-       Continued world-wide sales growth

 

CLEVELAND – August 2, 2016 – Mace Security International Inc. (OTCPINK: MACE) today released its unaudited financial results for the first quarter ending March 31, 2016. The release of the Company’s first quarter unaudited financial results was delayed pending release of the Company’s 2015 annual financial statements.  The Company’s unaudited financial statements for the first quarter ended March 31, 2016 and 2015 are available on the OTC Markets’ website.

The Company expects to release second quarter financial results on Monday, August 8, 2016.  The investor call to discuss financial results for the six months ending, June 30, 2016 and 2015, and to take investor questions will be on Tuesday, August 9, 2016.  Investor call details will be provided with the second quarter earnings release.

“The first quarter of 2016 is a continuation of the positive momentum we built in the calendar year 2015. We will continue to strategically focus on sales and operations to build the Mace Brand into the number one brand in personal defense and safety world-wide, said John McCann President and CEO.”

 

First Quarter 2016 Financial Highlights

  • Net revenue up 39.7% for quarter
  • Gross profit up 48.3% for quarter
  • Key channels of distribution  net revenues up 19.8%
  • Company added 22 new accounts in the quarter
  • International sales up 357%

 

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the Company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. For more information, please visit www.mace.com.

 

Contact:
John J. McCann
President and Chief Executive Officer
440-424-5322
john@mace.com 

Forward-Looking Statements

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

# # #

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

ASSETS

March 31,

  2016

 

December 31, 2015

Current assets:

(Unaudited)

Cash and cash equivalents

 $  395

 $ 446

Restricted cashShort-term investments

60

2,111

60

2,142

Accounts receivable, net

            1,443

            1,562

Inventories,  net

            1,695

            1,601

Prepaid expenses and other current assets

878

779

Assets held for sale

319

              430

Total current assets

           6,901

          7,020

Plant and equipment, net

             672

522

Other intangible assets

            685

            685

Other assets

 951

              1,034

Total assets

  $ 9,209

 $ 9,261

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:
Accounts payableIncome taxes payable

345

59

222

61

Accrued expenses and other current liabilities

542

695

Total current liabilities

          946

          978

    Other liabilities

73

-

Total stockholders’ equity

       8,190

8,283

     Total liabilities and stockholders’ equity     $9,209        $9,261

 

 

Mace Security International, Inc.
Condensed Consolidated Statements of Operations
Three Months Ended March 31, 2016 and 2015
(Unaudited)
(Amounts in thousands)  

2016

 

2015

Net revenue

 $2,079

 $1,488

Cost of  revenue

          1,262

937

Gross profit

        817

       551

Selling, general, and administrative expenses

          972

971

Depreciation

           38

36

Operating loss

       (193)

       (456)

Interest expense

              (10)

              (53)

Interest income

              37

              52

Loss on sale of short-term investments

              -

             (12)

Other income

-

322

Loss from continuing operations before income tax provision

        (166)

(147)

Income tax provision

-

                -

     
Loss from continuing operations

       (166)

       (147)

Income (loss) from discontinued operations, net of tax of $0

             5

(36)

Net loss

 $(161)

 $(183)

 

 

 


August 2nd, 2016

Mace Releases December 31, 2015 Audited Financials

CLEVELAND – August 2, 2016 – Mace Security International Inc. (OTCPINK: MACE) today released audited financial results for the twelve-month period ended December 31, 2015. The Company’s yearend audit and financial results had been delayed pending resolution of a valuation issue on certain non-operating assets. The Company has made its audited financial statements for the years ended December 31, 2015 and 2014 available on the OTC Markets’ website.

“2015 was another pivotal milestone year for the Company as we continue to grow the Mace Brand both domestically and international through a strong focus on personal protection, security products, and innovation,” stated John J. McCann, President and CEO.

 

Fourth Quarter/Twelve Months 2015 Financial Highlights Compared to Prior Year

  • Strong net revenue and gross profit growth
  • Solid expansion in key channels of distribution
  • Reduced general and administrative expenses
  • Significant reduction of net operating loss from continuing operations

 

Conference Call

Mace® will announce date and time of conference call upon release of 2016 First Half Operating Results.

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the Company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security products under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. For more information, please visit www.mace.com.

 

Contact:
John J. McCann
President and Chief Executive Officer 440-424-5322
john@mace.com

 

Forward-Looking Statements

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

# # #


June 23rd, 2016

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

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

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

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

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

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

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

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

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

Mace Security International, Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, the company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. Mace® Brand products are manufactured in the U.S. For more information, please visit www.mace.com.

About Mace Security International, Inc.
Mace Security International Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security products under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. For more information, please visit www.mace.com.


May 19th, 2016

SafeDefend and Mace Security International, Inc. Join Forces to Keep Schools and Workplaces Safe

New partnership will feature Mace® Brand pepper spray inside SafeDefend Personnel Protection Systems, creating the most comprehensive school and workplace protection device and program available

safedefend 

Gardner, KS—May 19, 2016—SafeDefend and Mace® Security International, Inc. announced today a partnership that will combine SafeDefend’s proprietary active shooter and incident preparations program with the proven effectiveness of Mace® Brand products, including its Mace Gel Pepper spray. Together, SafeDefend and Mace® Brand will create the premier protection approach for employees, teachers, and students from incidents including active shooters and other emergencies.

“As SafeDefend continues to increase its presence in schools, government facilities, and workplaces, we needed to partner with true leaders in personnel protection to mitigate threats and injuries in the event of an incident,” said Jeff Green, CEO of SafeDefend. “SafeDefend is protecting over 12,000 students and personnel nationally, and with 87 mass shootings so far in 2016, it’s clear that workplaces are in need of a product like ours to help protect their most valuable asset: their people.”

The SafeDefend Personnel Protection System includes a fingerprint activated device which allows for controlled access and secure storage of items such as Mace® Brand gel pepper spray; a baton with a window break; trauma kit; safety vest; flex cuffs; high-intensity strobe flashlight; and a whistle. Once the system is activated, an alert is instantaneously sent to a nationwide monitoring company, along with a text alerting personnel at the school or workplace. Local law enforcement is immediately notified of the building and room number where the system was activated, identifying the location of the threat.

“We are proud to provide our nation’s law enforcement, corrections, and military with best-in-class, less lethal options,” said John McCann, CEO & President, Mace® Security International, Inc. “Now, through our partnership with SafeDefend we can enhance our efforts to protect our children and school officials, people working in medical and food industries, public employees, employees of corporations, and many more. We are extremely pleased to partner with SafeDefend and look forward to enhancing the safety of civilians all over the country.”

 

About SafeDefend
The SafeDefend Personnel Protection and Shelter in Place Systems program was founded in 2013 by Jeff Green, a former elementary school teacher and principal for 16 years. Following the Sandy Hook tragedy, Green realized that schools were missing critical elements in addressing a crisis.

SafeDefend was developed alongside local and national threat assessment experts, law enforcement, police chiefs, and sheriffs. SafeDefend prepares schools, hospitals, government buildings, and corporate offices what to do during the critical minutes leading up to the time first responders arrived on the scene. For more information, visit www.safedefend.com.

About Mace Security International, Inc.
Mace Security International Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security products under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. For more information, please visit www.mace.com.

###

Press contact:
Leigh Minnier
Vice President
Gregory FCA
Direct: 610-228-2108
Leigh@GregoryFCA.com

SafeDefend contact:
Jeff Green
CEO & Founder
913-856-2800
jeff@safedefend.com

Mace contact:
John J. McCann[1]
President and Chief Executive Officer
440-424-5322
john@mace.com

 


May 9th, 2016

Mace Security International, Inc. Partners with BoobyTrapBras, LLC on Innovative Active Wear Products

Just In Case Bras keep Mace® Brand personal protection products conveniently close

CLEVELAND–()–Mace Security International, Inc. (OTCPINK: MACE) today announced it will be the exclusive provider of defense sprays, which will be incorporated into Just In Case Bras designed and developed by BoobyTrapBras, LLC. BoobyTrapBras provide peace of mind by allowing easy access to Mace® Brand products that are discretely housed within the garment.

“We are proud to team with BoobyTrapBras, whose mission is the same as ours – empowering people with personal safety products that provide peace of mind,” said John McCann, president and chief executive officer of Mace Security International, Inc. “For example, the Just In Case Pepper Spray Bras enable consumers to follow one of the most important rules of personal safety: make sure your defense tools are easily and quickly accessible.”

Mace® Brand personal protection products are specifically designed to provide consumers with reliability and ease of use while keeping them safe and secure at a distance. In addition to its high-quality products, Mace actively supports its consumers through educational programming and superb customer service.

“Without question, Mace® Brand is the ideal partner to elevate our product line and help drive this lifestyle movement,” says Jennifer Cutrona, owner and designer of BoobyTrapBras, LLC. “We are excited about the near-term potential of this partnership, as well as the potential product development opportunities longer term.”

Cutrona began her company after a close call while running a trail in the Austin, Texas-area about a year ago. “I never thought something like that would happen to me,” she said. “It startled me and drove me to create a product that can help provide confidence and empowerment to others who will hopefully never have the same experience. But, if something does happen, with the help of BoobyTrapBras and Mace, that person will be prepared.”

Mace® Brand defense sprays are available on mace.com, BoobyTrapBras.com and at locations where Just In Case Bras are sold, which currently includes boutiques in Arkansas, Kentucky, Mississippi, Oklahoma and Texas. The Just In Case Spray Bras have a suggested retail price of $49.99 and Mace® Brand Pepper Gard is sold separately for $16.99.

About Mace Security International, Inc.:

Mace Security International, Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, the company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. Mace® Brand products are manufactured in the U.S. For more information, please visit www.mace.com.

Contacts

Mace Security International, Inc.
Jessica Adanich, 440-424-5395
jadanich@mace.com
-or-
Falls Communications
Laura Pegg, 216-472-2385
lpegg@fallscommunications.com


May 4th, 2016

Northeast Ohio Companies Help Law Enforcement Gear Up for the Republican National Convention

Mace® Security International, Inc. and its strategic partner, Tactical Defense Training Inc.,
work together to provide local police departments with free pepper spray training

CLEVELAND – In anticipation of the Republican National Convention (RNC) this July, Mace Security International, Inc. (OTCPINK: MACE) and Tactical Defense Training Inc. (TDT) are providing free one-day OC instructor courses to Northeast Ohio law enforcement agencies. Use of Oleoresin Capsicum (OC) – or commonly known as pepper spray – is a key component of the protocols taught to police officers. Accepted best practices suggest that officers are annually retrained on this tool.

“We are expecting upwards of 50,000 visitors to the Cleveland area for the RNC, and we would like to do what we can to help prepare our local law enforcement partners to ensure public safety during this historic and exciting time in our city,” said John McCann, president and chief executive officer of Mace Security International, Inc. “We are honored to have the opportunity to assist police officers throughout Northeast Ohio to help keep us safe and secure.”

The hands-on course will cover OC sprays from start to finish, including distinguishing between each available option; selecting the most appropriate type for each situation; how pepper sprays can be incorporated into the “Continuum of Force;” proper usage; measures to be taken after exposing subjects to pepper; and decontamination steps.

The training courses will take place at each police department and will be led by Matt Schaefer, president of TDT, who is also a police officer assigned to the Sheriff’s Office Training Bureau and is also a U.S. Army veteran.

“With Cleveland in the spotlight, we want to make sure we are doing whatever we can to empower area officers with the best products and training available possible,” said Schaefer. “At TDT, we are proud to partner with Mace, the leader in defense spray products, and work hand-in-hand with officers from the Cleveland, Akron and Canton areas.”

About Tactical Defense Training Inc.:

Since 1999, Tactical Defense Training Inc. — or TDT, as they are known in the tactical community — has been a recognized leader in law enforcement and military training. TDT has trained law enforcement from local, state and federal agencies, students from every branch of the military, private security and select civilians. TDT has trained thousands of students in the past decade, making the organization known for realistic and intense training.

About Mace Security International, Inc.:

Mace Security International, Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, the company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. Mace® Brand products are manufactured in the U.S. For more information, please visit www.mace.com.

Contact:

Jessica Adanich | Mace Security International, Inc.
jadanich@mace.com
440.424.5395

-or-

Laura Pegg | Falls Communications
lpegg@fallscommunications.com
216.472.2385


May 2nd, 2016

Mace Products Now Available at the Sportsman’s Warehouse

“America’s Premier Outfitter™” Carries Mace Brand® Defense Sprays in All 72 Stores

May 02, 2016 08:00 AM Eastern Daylight Time
CLEVELAND–(BUSINESS WIRE)–Mace Security International, Inc. (OTCPINK: MACE), a global leader in personal safety and security products, announces its Mace® Brand defense sprays are now available at the Sportsman’s Warehouse retail chain.

“We are proud to establish a partnership with Sportsman’s Warehouse, a retailer we have long admired,” said Bill Treacy, director of sales for Mace Security International, Inc. “Having our iconic defense sprays now available in Sportsman’s Warehouse stores speaks volumes to the quality and reliability of our product, as well as to the value proposition we offer consumers. We look forward to working hard to continue to earn their business.”

Headquartered in Salt Lake City, Sportsman’s Warehouse operates 72 stores in 18 states across the U.S. Known as “America’s Premier Outfitter,” Sportsman’s Warehouse’s promises customers to carry “only top-quality, brand-name products for the serious outdoor enthusiast.”

“The addition of Sportsman’s Warehouse to our steadily-increasing network of retail partners is a testament not only to the strength of the broad product line, but also to the effectiveness of our specialty sales representatives and to our enhanced targeted marketing efforts,” said John McCann, president and chief executive officer of Mace Security International, Inc. “Today’s announcement is another positive step forward in our aggressive, long-term growth strategy.”

About Mace Security International, Inc.

Mace Security International, Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of defense spray products. The company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. For more information, please visit www.mace.com.

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


April 27th, 2016

Mace Security International, Inc. Wins A’Design Award & Competition

Company honored for packaging design overhaul

Mace® Brand Hot Pink® Pepper Spray Line. Photography by Greg Nesbit.

Mace® Brand Hot Pink® Pepper Spray Line. Photography by Greg Nesbit.

CLEVELAND–()–Mace Security International, Inc., a globally recognized leader in personal safety and security, is a winner of the prestigious A’Design Award & Competition for the 2016 redesign of its Mace® Brand product packaging.

A’Design Award & Competition is the world’s largest international design awards program recognizing top designs that exhibit an exemplary level of perfection. Entries to the A’ Packaging Design Awards are peer-reviewed and anonymously judged by an expert jury panel of leading academics, influential press members and experienced professionals. Mace Security International, Inc. was honored in the Packaging Design Award – Professional Entry category.

In its award-winning entry, the company said, “The newly updated mission statement inspired Mace Security International, ‘Empowering your world through safety and security.’ It’s important to us to offer the best safety and security products to our customers and that includes a design that reflects our stance.”

The new packaging reduces PVC usage and provides the instructions for the product printed on the back of each pack instead of inserting a folded paper instruction pamphlet. This method is environmentally friendly and drastically decreases the company’s PVC footprint.

“We are thrilled to be recognized by the international design community for our packaging redesign program,” says John McCann, president and chief executive officer of Mace Security International, Inc. “Our team is doing a great job of supporting and driving our products through targeted strategic marketing, which includes innovative packaging concepts.”

Team members included in this award-winning project include lead designer Jessica Adanich, Bernie Graney, Bobbi Tonti, Eric Crawford, Patrick Barrett and Carl Smith.

A’Design Award & Competition packaging designs nominees are voted on predetermined evaluation criteria to highlight only the very best packaging design works. Other winners in this category include 7UP’s Global Visual Identity System Redesign and Purina Cat Chow Packaging Design.

About Mace Security International, Inc.:

Mace Security International, Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, the company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. Mace® Brand products are manufactured in the U.S. For more information, please visit www.mace.com.

Contacts

Mace Security International, Inc.
Jessica Adanich, 440-424-5395
jadanich@mace.com
or
Falls Communications
Laura Pegg, 216-472-2385
lpegg@fallscommunications.com

 


April 25th, 2016

Mace Security International Adds Carl Grassi to its Board of Directors

 

Cleveland, OH. — The Board of Directors of Mace Security International, Inc. (OTCPINK: MACE) today announced that Carl Grassi has been appointed to the company’s Board, effective immediately. Grassi, 57, is president of McDonald Hopkins LLC, where he acts as corporate counsel and business advisor to a number of public and private companies. With today’s action, the Mace Board now stands at seven directors, six of whom are independent.

“Carl is a superb lawyer who also brings a deep understanding of corporate strategy and enterprise value creation to the table,” said Richard Barone, non-executive chairman of the board. “His specialized expertise in mergers and acquisitions will be invaluable to us as we continue to execute our long-range growth strategy.”

Grassi received a degree in business administration from John Carroll University in 1981 and earned his Juris Doctor from Cleveland-Marshall College of Law in 1984. He serves on boards of private companies and non-profit organizations.  He is currently the chairman of the Greater Cleveland Sports Commission and serves on the board of BVU | The Center for Nonprofit Excellence and the Greater Cleveland Film Commission.

Grassi will stand for re-election with the other Mace directors at the company’s 2016 annual meeting of shareholders to be held on June 7, 2016.

 

About Mace Security International, Inc.:

Mace Security International, Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, the company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. Mace® Brand products are manufactured in the U.S. For more information, please visit www.mace.com.


April 18th, 2016

Mace Reports Fourth Quarter and Full-Year 2015 Operating Results

Mace Reports Fourth Quarter and Full-Year 2015 Operating Results

  • Net revenue increase of 17.9% for the quarter; 13.8% for full year
  • Gross profits in fourth quarter increased 8.0%; up 19.2% for full year
  • Operating loss improved 14.9%; 38.5% year over year
  • Company expects to report full financial statements  in May 2016 upon completion of year-end audit

 

CLEVELAND – April 18, 2016 – Mace Security International Inc. (OTCPINK: MACE) today announced operating financial results for the fourth quarter and twelve-month period ended December 31, 2015. (Note: Mace will release full year-end financial statements upon the resolution of a valuation issue related to certain non-operating assets. The company anticipates releasing its audited financial statements in May 2016. As a result, the company’s stock listing on the OTC PINK Market will have a notation indicating the company is delinquent in reporting its financial results until its year-end financial statements are completed and filed.)

“2015 was a terrific year for Mace as we drove significant top-line growth and margin expansion that has continued into the first quarter of 2016,” said John McCann, president and chief executive officer. “Our ability to generate steadily increasing global demand for our iconic defense sprays was key to our success in 2015. Likewise, through smart product line extensions and new product launches, we were able to increase our presence with existing customers, as well as grow our market presence in 2015.”

 

Fourth Quarter/Full Year 2015  Highlights

  • Key channels of distribution (sporting goods & consumer) net revenues up 8.6% for the quarter; and 16.9% year-to-date. Strong performance by key partners including Dick’s Sporting Goods, Cabela’s, Big 5 Sporting Goods, Amazon, Auto Zone, Lowe’s, and Meijer contributed to the increase.
  • Tactical distribution channel net revenues were up 25.1% for the quarter; and 129.8% year-to-date; 28 new agencies added for the year.
    • Company added distribution of its products at 17 new accounts for the quarter; and 83 year-to-date.
    • Selling, general and administrative expenses flat for the quarter, down 7.8% year to date.
    • Fourth quarter operating loss from continuing operations included an $88,000 non-recurring severance expense related to the departure of a senior executive.
    • Merlin Partners, LP – the company’s largest shareholder – further increased its holdings in Mace by exercising 1,178,929 warrants in December 2015.
    • During the fourth quarter of 2015, three directors who did not previously own Mace shares each initiated positions in the company.

Select Consolidated Financial Results, Fourth Quarter and Year Ended December 31, 2015 and 2014 (in thousands):

For the Three Months Ended

Dec 31,

% of Sales

Dec 31,

% of Sales

2015

2014

$ Chg

% Chg

Net revenue

$     2,051

100.0%

 $      1,740

100.0%

311

17.9%

Gross profit

         726

35.4%

            672

38.6%

   54

8.0%

Selling, general, and administrative expenses

     1,022

49.8%

         1,024

58.9%

 -2

-0.2%

Operating loss from  continuing operations

      (330)

-16.1%

       (388)

-22.3%

   -58

-14.9%

For the Twelve Months Ended

Dec 31,

% of Sales

Dec 31,

% of Sales

2015

2014

$ Chg

% Chg

Net revenue

$     7,145

100.0%

 $      6,280

100.0%

865

13.8%

Gross profit

       2,755

38.6%

      2,312

36.8%

   443

19.2%

Selling, general, and administrative expenses

     3,838

53.7%

         4,162

66.3%

  -324

-7.8%

Operating loss from continuing operations       (1,223)

-17.1%

       (1,988)

-31.7%

  -765

-38.5%

 

Mace also announced today that, as part of its ongoing strategic planning process, the Company decided to exit its electronic surveillance equipment business during the fourth quarter of 2015. “Given the aggressive expansion of our core products portfolio, our surveillance operations no longer aligns with our long-term growth strategy,” said McCann.

The results of the Surveillance operations will be included in “Discontinued Operations” during the divestiture process. The company will not comment or speculate on the potential timing or terms of a transaction involving the Surveillance operations.

 

Conference Call

Mace® will conduct a conference call on Tuesday, April 19, 2016 at 11:00 AM EDT, 8:00 AM PDT to discuss its financial and operational performance for the quarter ended December 31, 2015. The participant conference call number is (877) 719-8065, conference ID: 93040427. Presentation materials for the conference call will be available Monday, April 18, 2016 on Mace’s website under Investor Relations, Shareholder Transcripts & Presentations. A digital recording of the teleconference will be available on the Mace website within 24 hours of the teleconference.

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense, security products under its world-renowned Mace® Brand – the original trusted brand of pepper spray products. The company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand.

Mace Security International distributes and supports Mace® Brand products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce marketers and installation service providers. For more information, please visit www.mace.com.

Contact:
John J. McCann
President and Chief Executive Officer
440-424-5322
john@mace.com

 

Forward-Looking Statements

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

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