Mace Press Releases

March 5th, 2018

Mace launches Police Strength Less-Than-Lethal Pepper Gel Spray Defense Kit Solution for Homes, Schools and Businesses

CLEVELAND, Ohio – In light of recent developments involving modern sporting rifles (MSR’s), national retail chains and both proposed and pending legislation, Mace Brand has launched a Mace Brand Safety Kit, which includes two Pepper Gel Magnum 9 cans and one Mace Brand Relief decontamination spray.

“Mace Security International, Inc. (MSI) continues to offer less-than-lethal solutions for all Americans and concerned citizens around the world,” said John McCann, CEO and president of MSI. “Mace Security International, Inc. is a supporter of the 2nd Amendment, as well as the 1st Amendment. We respect a person’s right to choose how they will protect themselves.”

Mace Brand Pepper Gel Magnum 9 has a pistol grip design, making it easy to deploy, is light weight, and has a 25-foot range with a 330 gram canister that empties in six seconds – great for indoor defense. The kit also includes the Mace Brand Relief decontamination spray, which is designed to help speed up the decontamination time needed to recover. The specialized herbal extract formula cuts through the capsaicinoids that cause the burning sensation. The Mace Brand Safety Kit also includes more information on how to use the products and how to store the kit.

Mace Brand pepper sprays are a less-than-lethal self-defense alternative for anyone 18 years of age or over, and can be purchased at leading retailers and independent dealers across the United States. Mace Brand 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. From our professional division, Mace Tactical Solutions, we also offer less-than-lethal sprays and products tailored for law enforcement, correctional and government agencies.

To purchase the Mace Brand Safety Kit, visit http://www.mace.com/macer-brand-police-strength-less-than-lethal-pepper-gel-spray-defense-kit. Available on Walmart.com and Amazon.com as well. This kit is not available in select states; please check on the Mace Brand Safety Kit product listing on Mace.com for a list of restricted states.

Mace Brand is recognized as the #1 brand in safety and security through independent research. When shopping for Mace Brand products, look for the Mace Brand Authentic Product Seal; if it doesn’t have the seal, it is not an authorized product of Mace Brand.

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 and retailers, e-commerce marketers and installation service providers. For more information, visit www.mace.com.

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Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

john@mace.com


February 27th, 2018

Mace® Security International Expands Personal Alarm Product Line with Heart-Shaped Alarm

CLEVELAND, Ohio – Mace® Security International, Inc. today announces the launch of the Personal Alarm Heart, a pull-pin style personal alarm that is designed to steer away a potential assailant. This unique, powerful, compact key chain personal alarm is equipped with an easy to use pull-pin that activates the 120dB alarm sound, which is equivalent to a police siren.

“This is an exciting and innovative addition to the personal alarm line at Mace Brand,” said John McCann, CEO and president of Mace® Security International, Inc. “Safety is a concern for everyone and Mace Brand cares about everyone’s safety, whether you are young in age or young at heart.”

Personal alarms are one of the fastest growing solutions in self-defense. These types of alarms are legal in all 50 states and TSA approved. Personal alarms require no prior training to operate and can be used at any age. In a situation, victims are often too traumatized to shout for help in unfamiliar and dangerous situations, increasing vulnerability. By using a personal alarm, you are able to alert others that you are at risk and scare off the would-be assailant.

The Mace® Brand Personal Alarm Heart is priced at $11.99. To purchase the personal alarm heart, visit the Mace website at http://www.mace.com/macer-brand-personal-alarm-heart?SID=k1bdl04nibqftifbr16ll6d7t0.

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.

###

 

Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

john@mace.com


February 12th, 2018

Mace® Security International, Inc. announces the publication of a white paper on personal alarms for housekeepers

CLEVELAND, Ohio – David Happe, executive vice president of e-commerce at Mace® Security International, Inc. (MSI), published a 21-page white paper on recent legislative developments and trends in several cities and states across the country regarding mandates for personal alarms for housekeepers.

“From Washington to Massachusetts, state and local governments are reviewing and enacting legislation to increase provision for the safety and security of hotel workers,” said Happe. “Mace® manufactures the best selling personal alarms in the United States under the Mace® and Vigilant brands, and we’re happy to have been chosen to protect tens of thousands of housekeepers nationwide.”

The white paper analyzes legislative actions for hotel employees in cities around the United States; Seattle, Chicago, Washington and New York City. Along with the cities listed, Happe also discusses actions that the states of California, Arkansas, Massachusetts and New York are taking currently to protect hospitality employees.

After the detailing each legislative action, Happe discusses solutions for the legislations that include the Mace® Alert 911 and Mace® Brand Personal Alarm Keychain.

To request a copy of the white paper, please email whitepaper@mace.com and include your company name and phone number.  The white paper is available free to qualified businesses, state and local governments, trade organizations and media.  Mace® reserves the right to restrict distribution of the copyrighted material only to qualified industry executives at Mace®‘s sole discretion.

For additional information on Mace® Brand’s line of personal alarms, visit www.mace.com.

For more information on Vigilant alarms, visit www.vigilantpps.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. 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


February 5th, 2018

Mace® Tactical Solutions Features Tactical Munitions at 2018 SHOT Show

 

 

CLEVELAND, Ohio – Mace® Tactical Solutions (MTS), a division of Mace® Security International, Inc. (MSI), featured a full-line of less lethal munitions and launchers for law enforcement, corrections and military markets at the 2018 SHOT Show in Las Vegas, Nevada.

“From our origins as Federal Labs to today, our objective has been and will continue to be customer service,” said John McCann, president and CEO of MSI. “MTS is organized and designed to serve our customers as they protect the world.”

The addition of the munitions line will enhance the product offerings of MTS to customers and offers customers a one-stop shop for less than lethal products. A comprehensive catalog of products is available on the MTS website at www.macetactical.com.

“Our objective with this launch is to service our customers with a strong in-stock position and short delivery times,” said Eric Crawford, vice president of sales at MSI.

For more information on the MTS line, contact Doug Melzig at dmelzig@mace, (440) 730-4642 or Eric Crawford at ecrawford@mace.com, (440) 730-4641.

 

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


January 31st, 2018

Mace® Security International, Inc. announces brand seal to combat counterfeit Mace® Brand products worldwide

 

Mace Brand Authentic Product Seal

 

CLEVELAND, Ohio – In a move aimed at differentiating counterfeit, inferior and imitation pepper spray products in the United States and around the world, Mace® Security International, Inc. (MSI) announced the creation of a Mace® Brand authentic product seal. This new seal is to indicate the product is a true and authorized Mace® Brand product. MSI owns the trademark and the name Mace®, which is a world-renown brand. Mace® Brand will be adding the seal to all packaging and product literature throughout 2018.

“If it isn’t manufactured by Mace® Brand, it isn’t Mace®,” said David Happe, executive vice president for MSI. “It is unfortunate to see falsely represented products on the market. In the interest of protecting customers from fraudulent products, Mace® Brand has begun to actively enforce its trademark on all of its products, packaging and information to assist customers in the buying process as the customers have a right to know.”

Working with regulatory agencies such as the United States Patent and Trademark Office, Mace® Brand’s goal with the authentic product seal is to clear up consumer confusion when shopping for Mace® Brand products, both online and at select national retailers. Mace® Brand is currently working with its authorized retailers to remove products that infringe on the Mace® Brand. Recently, Amazon Brand Registry certified the Mace® Brand trademark. Mace® is also registered with eBay’s Verified Rights Owner (VERO) program.

 Mace® Brand has a large network of nationally authorized partners, including but not limited to Dick’s Sporting Goods, Wal-Mart, Ace Hardware, Amazon and AutoZone.

To find an authorizer retailer in your area or to check out the full line of Mace® Brand products, visit www.mace.com.

For questions about your Mace® Brand product, email customerservice@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.

 

###

 

Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

john@mace.com


December 12th, 2017

Mace® Security International Launches Empower Product Line to Help End Domestic Violence

Mace® Brand Empower products in 2018 will be dedicated to raising awareness and funds to prevent domestic violence.

CLEVELAND–(BUSINESS WIRE)–Mace® Security International, Inc. today announced the launch of a unique purple product line of defense spray named ‘Empower.’ This unique line of products is part of our successful Mace® Cares program. We at Mace® have a goal of eliminating domestic violence in our lifetime. Mace® Brand Empower products in 2018 will be dedicated to raising awareness and funds to prevent domestic violence. Proceeds from each sale of a Mace® Brand Empower Purple Product will go to domestic violence organizations.

The Mace® Cares program was established in 2013 as a way to provide support and assistance for individuals at risk. Mace® Brand is very proud to be taking a stance against domestic violence and help break the silence that surrounds such a serious issue in our society today.

“I am very excited about the new Mace® Brand Empower line and to join forces with Mace Security International, Inc. to help raise awareness about a taboo subject that affects over 10 million people a year. Here in the U.S., 1 in 3 women and 1 in 4 men are victims of some sort of physical abuse by an intimate partner. Together with the strength of the Mace brand and the Empower purple product line, we can take a stand for safety and empowerment and bring this topic into the light.” – Jennifer Cassetta, self defense expert & Mace® Brand Ambassador

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.

Contacts
Mace Security International, Inc.
John McCann, 440-424-5322
President and CEO
john@mace.com


November 15th, 2017

Mace Reports Third Quarter 2017 Financial Results

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

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

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

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

 

Third Quarter/Nine Months 2017 Financial Highlights 

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

 

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

For the Three Months Ended

Sept. 30,

% of Sales

Sept. 30,

% of Sales

2017

2016

$ Chg

% Chg

Net sales

$     2,828

100.0%

 $      2,706

100.0%

  122

4.5%

Gross profit

      1,293

45.7%

         1,166

 43.1%

             127

10.9%

Selling, general, and administrative expenses

        942

33.3%

            940

      34.7%

(2)

0.2%

Operating income             302

  10.7%

            186

6.9%

   116

62.4%

Net income

          196

6.9%

             250

   9.2%

    (54)

(21.6%)

 

 

Third Quarter 2017 Operational Highlights

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

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

Conference Call

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

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

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

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

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

# # #

 

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

ASSETS

September 30,

2017

 

December 31, 2016

Current assets:

(Unaudited)

Cash and cash equivalents

 $          332

 $         970

Restricted cashShort-term investments

606

60

1,794

Accounts receivable, net

            2,288

            1,655

Inventories,  net

            2,051

            1,568

Prepaid expenses and other current assets

895

952

Total current assets

           6,172

          6,999

Property and equipment, net

             808

714

Goodwill

             586

Intangible assets

            2,644

            685

Other assets

 1,018

              1,184

Total other assets

           4,248

          1,869

Total assets

  $      11,228

 $        9,582

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

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

             413

194

Income taxes payable

               60

60

Accrued expenses and other current liabilities

567

518

Total current liabilities

          1,225

         772

Long-term debt, net of current portion

             726

Other liabilities

2

4

Total liabilities

1,953

776

Total stockholders’ equity

       9,275

8,806

     Total liabilities and stockholders’ equity

$      11,228

 $           9,582

  

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

2017

 

2016

Net sales

 $       2,828

 $       2,706

Cost of  revenue

          1,535

1,540

Gross profit

1,293

       1,166

Selling, general, and administrative expenses

         942

940

Depreciation

           49

40

Operating income

       302

       186

Interest expense

              (12)

(12)

Interest income

17

30

Amortization of intangible assets

(111)

Income from continuing operations before income tax provision

196

204

Income tax provision

                –

     
Income from continuing operations

     196

204

Income from discontinued operations, net of tax

46

Net income

 $     196

 $       250

 

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

2017

 

2016

Net sales

 $       7,048

 $       6,816

Cost of  revenue

          4,068

3,994

     Gross profit

        2,980

       2,822

Selling, general, and administrative expenses

          2,773

2,772

Depreciation

          139

116

     Operating income (loss)

       68

       (66)

Interest expense

              (30)

              (35)

Interest income

              71

              102

Loss on sale of short-term investments

             (11)

              –

Amortization of intangible assets

    (111)

     Income (loss) from continuing operations before income tax provision

        (13)

1

Income tax provision

                –

     
Income (loss) from continuing operations

       (13)

       1

Income (loss) from discontinued operations, net of tax

            (22)

129

     Net income (loss)

 $      (35)

 $       130

 

 


October 19th, 2017

Mace® Security International Acquires Vigilant Personal Protection Systems

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

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

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

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

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

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

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

About Mace Security International, Inc.

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

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

Contacts

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

 


August 15th, 2017

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

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

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

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

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

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

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

Contacts
Mace Security International
John McCann, 440-424-5322
President and CEO
john@mace.com

About Mace® Security International, Inc.

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


August 10th, 2017

Mace Reports Second Quarter 2017 Financial Results

–       Net sales , up 24%

–       Positive net income , up 112%

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

–       Adds 16 new accounts in the quarter

 

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

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

Second Quarter/Six Months 2017 Financial Highlights

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

 

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

For the Three Months Ended

June 30,

% of Sales

June 30,

% of Sales

2017

2016

$ Chg

% Chg

Net sales

$     2,510

100.0%

 $      2,031

100.0%

  479

23.6%

Gross profit

      1,013

40.4%

         839

 41.3%

             174

20.7%

Selling, general, and administrative expenses

        866

34.5%

            860

 42.3%

(6)

0.7%

Operating income (loss)              97

3.9%

            (60)

-3.0%

   157

Net income

         87

3.5%

             41

   2.0%

   46

Second Quarter 2017 Operational Highlights

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

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

Conference Call

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

August 11, on Mace’s website under Investor Relations, Shareholder Transcripts & Presentations. A digital recording of the teleconference will be available on the Mace website within 24 hours of the teleconference.

About Mace Security International, Inc.

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

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

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

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

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

ASSETS

June 30,

2017

 

December 31, 2016

Current assets:

(Unaudited)

Cash and cash equivalents

 $          568

 $         970

Restricted cashShort-term investments

606

60

1,794

Accounts receivable, net

            1,796

            1,655

Inventories,  net

            1,751

            1,568

Prepaid expenses and other current assets

917

952

Total current assets

           5,638

          6,999

Plant and equipment, net

             840

714

Goodwill

             2,641

Other intangible assets

            685

            685

Other assets

 1,018

              1,184

Total assets

  $      10,822

 $        9,582

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

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

             281

194

Income taxes payable

               60

60

Accrued expenses and other current liabilities

470

518

Total current liabilities

          994

         772

Long-term debt, net of current portion

             773

Other liabilities

3

4

Total liabilities

1,770

776

Total stockholders’ equity

       9,052

8,806

     Total liabilities and stockholders’ equity

$      10,822

 $           9,582

 

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

2017

 

2016

Net sales

 $       2,510

 $       2,031

Cost of  revenue

          1,497

1,192

Gross profit

1,013

       839

Selling, general, and administrative expenses

         866

860

Depreciation

           50

39

Operating income (loss)

       97

       (60)

Interest expense

              (12)

(12)

Interest income

25

35

Income (loss) from continuing operations before income tax provision

110

(37)

Income tax provision

                –

     
Income (loss) from continuing operations

      110

       (37)

Income (loss) from discontinued operations, net of tax

(23)

78

Net income

 $      87

 $       41

 

 

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

2017

 

2016

Net sales

 $       4,220

 $       4,110

Cost of  revenue

          2,533

2,454

Gross profit

        1,687

       1,656

Selling, general, and administrative expenses

          1,831

1,832

Depreciation

           90

76

Operating loss

       (234)

       (252)

Interest expense

              (18)

              (23)

Interest income

              54

              72

Loss on sale of short-term investments

    (11)

Loss from continuing operations before income tax provision

        (209)

(203)

Income tax provision

                –

     
Loss from continuing operations

       (209)

       (203)

Income (loss) from discontinued operations, net of tax

            (22)

84

Net loss

 $      (231)

 $       (119)