Mace Press Releases

April 1st, 2019

Mace Security International, Inc. Hires New Vice President of Sales

Julie Koenig Appointed to Lead Sales Strategy

 

 CLEVELAND, Ohio –April 1, 2019 – Mace Security International, Inc. (OTCQX: MACE), a globally-recognized leader in personal safety and security, is proud to announce the addition of Julie Koenig as Vice President of Sales, effective March ­­25, 2019. In her new role, she will be responsible for developing and implementing sales strategies that drive growth and customer loyalty.

With almost 20 years of sales, account management and marketing experience from companies such as Party Animal Inc. and US Cotton, LLC, Koenig brings a strong background in brand and channel development, as well as product innovation. In her most recent role as Vice President of Sales and Marketing at Party Animal Inc., Koenig oversaw sales strategy and channel distribution for licensed products in the toy, flag and wall décor categories. As the Vice President of Sales and Marketing at US Cotton, LLC, she helped the company achieve and maintain 85 percent market share of the retail cotton industry through new product and sales strategies.

“Julie’s big box retail experience and superior skillset will help our company streamline efficiency, improve interactions with channel partners and ensure greater customer satisfaction,” said Gary Medved, President and CEO of Mace Security International, Inc. “She’s a strategic thinker with demonstrated leadership expertise. We believe she will position the company for continued growth and success.”

 

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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.

 

Contact:

Gary Medved

President and Chief Executive Officer

440-424-5322

press@mace.com


March 29th, 2019

Mace Reports Fourth Quarter and Full-Year 2018 Financial Results

 

  • Net sales increased 15.1% to $11,489,000 for 2018
  • Net loss of ($1,946,000) for 2018, which includes non-cash charges totaling $1,514,000 for Note Receivable write-downs, inventory write-downs, and other non-cash charges.
  • Adjusted EBITDA of $172,000 for the year

 

CLEVELAND, Ohio – Mace Security International Inc. (OTCQX: MACE) today released audited financial results for the year ended December 31, 2018.

The Company is pleased to announce another year of double-digit growth in 2018. The Company has grown its top line sales through organic growth as well as benefiting from prior year strategic acquisitions. The Company’s net loss in 2018 included non-cash charges of $1,514,000.

New President and CEO Gary Medved commented: “We are pleased that the Company has seen its fourth straight year of increase in net sales. While we are not satisfied with the overall financial results, we see 2018 and early 2019 as a period of resetting the company for profitable future growth.”

Since Mace established a new senior management team in early 2019, the Company has focused on

  • Replenishing leadership in the operational and sales areas
  • Explored several significant partnering opportunities which it expects to announce in Q2 of 2019
  • Continued investments in advertising and content marketing to promote, protect and grow the Company’s brands

Fourth Quarter/ Full-Year 2018 Financial Highlights – Compared to 2017

  • Net sales relatively comparable to prior year for Fourth quarter; up 15.1% year-to-date
  • Gross profit decreased ($769,000) or (25.4) margin points compared to the same quarter in 2017 including non-cash inventory write downs of $358,000 in the fourth quarter of 2018; Gross margin for the full year 2018 was 37.9%, including the (3.5%) margin impact for the non-cash inventory charges, compared to 44.1% in 2017.
  • EBITDA of ($1,523,000) for 2018, and adjusted EBIDTA of $172,000 compared to $248,000 and $377,000, respectively, for the 2017 year

 

Fourth Quarter / Full Year 2018 Operational Highlights

The Company, with the full year of benefit from the 2017 acquisitions of Washington Laboratories and Vigilant, as well as continued growth in its ecommerce channel was able to grow revenues by 15.1% despite flat sales in its largest channels, traditional consumer and sporting goods. SG&A expenses also held steady as a percent of net sales at approximately 41%. Financial performance was challenged by noncash charges totaling $1,514,000 for the year.

 

Conference Call

Mace® will conduct a conference call on Tuesday April 2, 2019 at 10:00 AM EDT, 7:00 AM PDT to discuss its financial and operational performance for the quarter and full-year ended December 31, 2018. The participant conference call number is (877) 719-8065 conference ID: 8172817.  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. To access the recording, use the dial-in number listed below and the conference ID number 8172817 :

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: 04/02/2019 13:00 Eastern Time – 04/04/2019 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 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 pepper spray products. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its 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 channels and through its website, 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.

 

 

 

 

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 at mace.com

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

 


March 14th, 2019

Mace Security International Inc. Hires New Director of Human Resources

Angela Anderson Appointed to Lead HR Strategy and Personnel Development

 

CLEVELAND, Ohio –March 14, 2019– Mace Security International, Inc. (OTCQX: MACE), a globally-recognized leader in personal safety and security, is proud to announce the addition of Angela Anderson as Director of Human Resources, effective March 11, 2019. In her new role, Anderson will ensure that the company’s human resources programs and initiatives are aligned with overall business objectives and performance goals.

With more than 20 years of human resources experience from companies such as Home Depot and AT&T Wireless, Anderson brings a strong background in process improvement, recruiting, training, and development. In her most recent role as Chief Human Resources Officer of The HELP Foundation, she oversaw talent acquisition and retention, employee relations, rewards and recognition, and performance management programs.

“We’re thrilled to welcome Angela to our team,” said Gary Medved, President and CEO of MSI. “Her HR leadership and expertise will add significant value as we position the company for continued growth and success. Our employees are our most critical asset, and I look forward to working with her to attract, develop and engage strong talent today and in the future.”

 

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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.

 

Contact:

Gary Medved

President and Chief Executive Officer

440-424-5322

press@mace.com


February 6th, 2019

Mace Security International, Inc. Acquires Tornado Security Products

 

Acquisition Strengthens Mace® Brand Market Position and Growth Potential

CLEVELAND –February 6, 2019 – Mace Security International, Inc. (MSI) (OTCQX: MACE), a globally-recognized leader in personal safety and security, announced today the acquisition of the assets of Tornado Security Products, a personal self-defense company based in Ferndale, Washington. The acquisition was effective January 18, 2019.

“This transaction reinforces the Mace® Brand as the leader in the less-lethal, personal self-defense product category, and gives both brands access to new retail channels and partnerships,” said Gary Medved, President and CEO of MSI. “Most importantly, it empowers us to deliver even more best-in-class personal protection and security products to our valued customers.”

The Tornado brand and its associated product lines, including pepper sprays, stun guns and bear sprays for individuals and law enforcement, will be integrated into the Mace® Brand family. The acquisition is expected to have a positive financial impact within the first year of the transaction.

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.

 

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Press Inquiries
Mace Security International, Inc.
Gary Medved, 440-424-5322
President and Chief Executive Officer
press@mace.com


January 22nd, 2019

Mace Security International, Inc. Appoints New Senior Leaders to Executive Team

 

CLEVELAND –January 22, 2019 – Mace Security International, Inc. (MSI) (OTCQX: MACE) has further strengthened its senior leadership team by naming Gary Medved as President and Chief Executive Officer, and Mark Barrus as Senior VP and Chief Financial Officer, effective immediately. These executive appointments position the company for its next era of growth and innovation.

Medved brings a wealth of relevant experience to his new role. Throughout his career, he has held senior leadership roles with Goodyear, Stride Tool, and Roto-Die, Inc. At Stride Tool, he increased revenue by 75 percent through organic growth while driving manufacturing efficiencies and the rollout of new, patented products and retail sales channels.

“I am thrilled to welcome Gary to our senior leadership team,” said Sanjay Singh, Vice-Chairman of the board of directors of MSI. “As we continue to pursue ambitious EBIDTA growth targets and expand into new markets, his proven leadership and technical expertise will help us achieve the next level of excellence for our company, partners and, most importantly, our customers.”

Medved holds an MBA from John Carroll University and a BSME from Penn State University. He resides with his family in Lyndhurst, OH.

“The Mace Brand has a rich history of innovation, customer service and industry-leading products,” said Medved.  “I’m excited to join this amazing team and develop strategies that reinforce our position as the market leader in the consumer, law enforcement, and tactical markets.”

As the new CFO, Barrus brings a strong financial and leadership background to MSI. He has held leadership roles at Covia Holdings Corp., a publicly traded company (CVIA, formerly FMSA), NACCO Industries (NC), and KPMG LLP. He will oversee MSI’s finance, accounting, investor relations, HR, and IT departments.

“Mark will help us sustain and grow our profitability and cash flow,” said Singh. “Additionally, he will be developing an efficient and effective capital allocation strategy as well as cost improvements while maintaining effective lender and shareholder relationships.”

Mark, an active CPA, holds a MAcc and BS degrees from Case Western Reserve University in Cleveland Ohio, and is a graduate of the Global Executive Leadership program at the Yale School of Management. Mark is a resident of Westlake Ohio and has served in various civic roles in greater Cleveland including Case Western Reserve University Accounting Advisory Board, the Cleveland Council on World Affairs, and the HELP Foundation.

While the addition of Gary and Mark has strengthened the management team, we are sorry to report Paul Hughes, former Executive V.P. at MSI, has had to resign from his position due to recent health concerns.

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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:

Mace Security International, Inc.

Gary Medved, 440-424-5322

President and Chief Executive Officer

press@mace.com


November 12th, 2018

Mace Reports Third Quarter 2018 Financial Results

  • Net sales up 21.9%; $619,000 improvement over Q3 2017
  • Gross profit of $1,498,000
  • EBITDA of $311,000
  • Adds 28 new customers in the quarter

 

CLEVELANDNovember 12, 2018 – Mace Security International, Inc. (OTCQX: MACE) today released unaudited financial results for the quarter ended September 30, 2018.

The Company is pleased to announce another quarter of increased revenues with third quarter net sales of $3,447,000, a 21.9% increase over prior year third quarter. The increase was mainly driven by increased sales through our Consumer and International distribution channels. The Company also reported its second consecutive quarter of positive EBITDA of $311,000. Third quarter net income and EBITDA were lower than prior year due to one-time expenses and increased advertising and selling expenses to drive Ecommerce sales.

“We’re very pleased with the sales growth we experienced in the 3rd quarter, as well as another consecutive quarter of positive EBITDA. The Company has reported positive EBITDA in five of the last six quarters. We also anticipate improved profitability moving into the fourth quarter, as selling, general and administrative expenses normalize in relation to revenues,” stated John McCann, President and CEO.

“Elevating our Ecommerce platform and enhancing our presence online promises to improve overall sales,” McCann continued. “This will be a key focus leading into 2019 – clarifying our brand and product position in the marketplace, as well as offering best-in-class digital experiences that catalyze online sales. To assist, we have hired a marketing company to focus on building stronger content and messaging to grow the category.” Emphasis on sales growth through Ecommerce extends to the Company’s own website, as well as numerous partners sites and platforms, all of which continue to improve.

 

Third Quarter/Nine Months 2018 Financial Highlights – Compared to 2017

  • Net sales up 21.9% for quarter; $619,000 improvement over 2017, up 22.8% year-to-date
  • Gross profit up 15.9% for quarter; $205,000 improvement over 2017, up 24.2% year-to-date
  • Positive EBITDA of $311,000 reported for the quarter; $40,000 below 2017, $31,000 year-to-date improvement

 

 

Third Quarter 2018 Operational Highlights

The Company continued to grow revenues and gross profit. Although the Company is pleased with the improvement, there are a number of initiatives that took place which will help the Company continue these positive trends in revenue and gross profits. These initiatives included the upgrade of its Ecommerce and EDI platforms to support continued sales growth efficiently and cost effectively. In addition, the Company hired Paul Hughes as Executive Vice President. Hughes, whose hire was announced on Nov 8th, has a strong track record of innovative approaches to revenue generation and leveraging emerging technologies to support business growth. He comes to the Company with extensive experience refining Ecommerce and multi-channel sales, including leadership positions at Guardian 8 Holdings and Taser International. His most recent position with the Arizona Commerce Authority helped to quadruple business opportunities in the territory under his management.

“Paul’s background in the security industry and military service, as well as his ability to efficiently and effectively activate brand and Ecommerce demand generation strategies makes him a valuable addition to our team,” stated McCann. “Our goal has always been to be the thought leader and best in class source for personal protection products. Paul will help us achieve this goal in new ways that take our Company into its next era of growth.”

Investor Information

Mace® will conduct a conference call on Tuesday, November 13, 2018 at 11:00 AM EDT, 8:00 AM PDT to discuss its financial and operational performance for the quarter ended September 30, 2018. The participant conference call number is (877) 719-8065, conference ID: 3772047. A full set of the consolidated financial statements are available on the Mace website. Presentation materials for the conference call will be available Tuesday, November 13, 2018 on Mace’s website under Investor Relations, Shareholder Transcripts & Presentations http://corp.mace.com/investor-relations/shareholder-transcripts-presentations/ A recording of the teleconference will be available on the Mace website within 48 hours of the teleconference.

About Mace Security International, Inc.

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

 

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

Contact:

John J. McCann

President and Chief Executive Officer

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.

 

 


October 3rd, 2018

Tactical Defense Training To Offer Realtor Safety/OC Course featuring Mace Brand Product

 

CLEVELAND, Ohio – Tactical Defense Training Inc. (TDT) and Mace Brand are proud to offer a realtor safety and OC pepper spray course, which is included in the Ohio Division of Real Estate Realtor continuing education (CE) hours. This class is approved for one hour of CE credit.

“If you are a real estate agent, you truly never know who could be on the other side of the front door of the house that you are showing,” said Matt Schaefer, president of TDT. “With the help of Mace Brand, we would like to provide realtors safety tips that they can take with them when they are out on the job.”

This course will teach realtors how to keep themselves safe, situational awareness, survival mindset and how to safely and effectively use Mace Brand pepper spray. Realtors will also leave the class with a Mace Brand pepper spray.

For class information, please call 1-800-490-1253 or email melanie@tacticaldefensetraining.com.

Matt, president of Tactical Defense Training Inc., is a veteran of the U.S. Army. Matt has been a police officer since 1995 and has worked corrections, uniform patrol, warrants, narcotics, and investigations. He has been involved in special operations since 1997, as a team member, counter – sniper, and team leader. During that time Matt has participated in several hundred real world missions to include high-risk entries, barricaded suspect situations and hostage rescue operations. He has been involved with SWAT since 1996, the majority of which as the S.W.A.T. team leader and tactical trainer. Matt also has the distinction of being sworn as a Deputy U.S. Marshal serving with the Northern Ohio Violent Fugitive Task Force. Matt is a certified instructor in firearms, use of force, SWAT, breaching, dignitary protection, defensive tactics, distraction devices, less lethal munitions and chemical munitions to name a few. He is also the lead trainer of trainers for Mace Tactical Solutions. He teaches all around the world and trains local, state and federal law enforcement agencies across the United States as well US Military teams and DOS approved foreign nationals.

 

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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.

 

About Tactical Defense Solutions Inc.

Since 1999, TDT 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 us known for realistic and intense training.

 

 

Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

press@mace.com


October 1st, 2018

Mace to Present at the OTC Virtual Conference at 10 am on October 4th

 

CLEVELAND, Ohio – Mace Security International’s CEO John McCann will present at the virtual OTC Market investor conference on Thursday, October 4th at 10:00 a.m. EDT. Presentation material will be made available on the Mace website prior to the respective conference dates.

To register, please visit https://www.investornetwork.com/event/agenda/otcPre-registration is suggested to save time. There is no fee for participants to log in, attend live presentations or ask questions.

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, manufacturing, and distributing 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

press@mace.com

 

Forward-Looking Statements

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

# # #


September 12th, 2018

Mace Brand announces free overnight shipping of Mace Alert 911 to states affected by Hurricane Florence

 

CLEVELAND, Ohio – Hurricane Florence, an extremely powerful Category 4 storm, is set to hit the states of Virginia, North Carolina, South Carolina, Georgia and parts of the Mid-Atlantic states. Many sources say that this storm is expected to affect millions this week, as some states have declared a state of emergency and evacuations. To help give peace of mind to people in those states, we are offering free overnight shipping to Virginia, North Carolina, South Carolina and Georgia on the Mace Alert 911 product if ordered between now and Thursday, September 13 at 3 p.m. EST.

“With the simple push of a button, the user is connected directly to 911,” said John McCann, CEO and President of Mace Brand. “Having the Mace Alert 911 on hand during a time of crisis will give a sense of safety to many people affected by Hurricane Florence. The two-way voice capability allows for instant communication with 911 operators and since it is battery operated there is no need to worry about an electrical outlet.”

Mace Alert 911 works anywhere in the U.S. where there is a cellular connection, the device will ping the closest tower to your location so you can talk to the 911 operator and best of all does not require any phone contract or any monthly subscription fees. The device includes a lanyard connection and an optional clip for easy access in case of an emergency. Only cost is the purchase price for the unit as Mace will ship it for free. The device is battery operated and can be shared with loved ones.

Deliveries may be subject to impacted weather delay depending upon delivery location. We will do our best to work with the delivery carriers in affected areas.

Please call the following numbers for any emergency assistance during Hurricane Florence:

  • Federal Emergency Management Agency (FEMA): 1-800-621-3362
  • National Center for Disaster Fraud Hotline: 866-720-5721
  • American Red Cross: 1-800-RED CROSS

For additional information on Mace Alert 911 or any Mace Brand personal safety products, please visit www.mace.com or call 1-800-775-6223 to purchase the Mace Alert 911!

 

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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

press@mace.com


August 6th, 2018

Mace Reports Second Quarter 2018 Financial Results

 

Mace Reports Second Quarter 2018 Financial Results

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

 

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

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

 

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

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

 

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

(in thousands):

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

 

 

Second Quarter 2018 Operational Highlights

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

Letter from the Chairman

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

Investor Information

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

August 7, on Mace’s website under Investor Relations, Shareholder Transcripts & Presentations http://corp.mace.com/investor-relations/shareholder-transcripts-presentations/ A recording of the teleconference will be available on the Mace website within 48 hours of the teleconference

 

 

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the Company designs and manufactures consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products and Vigilant® Brand alarms, the world-wide leader and number one recognized brand in personal alarms. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® and Take Down® brands. For more information, please visit www.mace.com.

 

Contact:

John J. McCann

President and Chief Executive Officer

440-424-5322

press@mace.com

 

 

Forward-Looking Statements

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

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Mace Security International, Inc.

Condensed Consolidated Balance Sheets

(Amounts in thousands)

 

ASSETS June 30,

2018

(unaudited)

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

Goodwill

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

 

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

 

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Three Months Ended June 30, 2018 and 2017

(Unaudited)

(Amounts in thousands)

 

 

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

  

Mace Security International, Inc.

Condensed Consolidated Statements of Operations

Six Months Ended June 30, 2018 and 2017

(Unaudited)

(Amounts in thousands)

 

 

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