Mace Security International, Inc. Announces First Quarter Fiscal 2013 Financial Results

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Mace Security International, Inc. Announces First Quarter Fiscal 2013 Financial Results

SOLON, Ohio--(BUSINESS WIRE)-- Mace Security International, Inc. ("Mace" or the "Company") (PINK: MACE) today announced financial results for the three months ended March 31, 2013.

  • First quarter 2013 results showed improvement over the fourth quarter of 2012 both in terms of sales and gross profits. Sales of Mace Personal Defense & Security Inc., which includes our personal defense & aerosol, and electronic surveillance products were up 2%, and gross profits were up 22.2%.
  • First quarter 2013 revenues were $3.2 million compared to $3.4 million for the same period in 2012, a decrease of $0.2 million or 5.9%. The first quarter revenues were slightly below the prior year primarily due to a $319,000 decline in electronic surveillance products which was offset by $151,000 increase in personal defense and aerosol products and a nominal decline in revenue from our wholesale security and monitoring business.
  • Net loss from continuing operations for the first quarter was $706,000 compared to a net loss from continuing operations of $509,000 in the prior year quarter. The per share loss for both quarters was $0.01. This decline can be attributed to increased spending in product design, and marketing initiatives in the first quarter of 2013 and a $100,000 gain on sale of IVS recognized in the first quarter of 2012.

John McCann, President and CEO of Mace, commented, "Although first quarter results are down from a year ago, the sales decline is mainly a result of lower sales revenues of our electronic surveillance equipment. We had a strong push last year to sell off our slow moving electronics equipment in preparation of moving the distribution to Vermont. Our core products continue to do very well. We also had higher selling, general and administrative costs related to brand investments via new product development as we continue our efforts to transform the brand into the #1 brand in safety and security. We are continuously looking for improvements in all areas of the Company. Armed with the positive news from the EPA, we will create a tactical division to expand our sales & distribution in the Law Enforcement & Government sectors."


Mace President and CEO, John McCann concluded "We finished the year by investing in the Mace brand and positioning Mace for growth - we are still working on these main functions and responsibilities through the 1st half of the year. We are working diligently on the consolidation of the Mace headquarters and manufacturing which will be completed in the back half of the year. This will be a major benefit to the company in terms of synergies and efficiencies. The first quarter reflected continued growth in our core business - Mace branded defense sprays. Sales through all distribution channels were up approximately 7% over last year with sales through the Consumer channel increasing by 28%. This sales increase is attributed to increases at key retailers including Ace Hardware, Auto Zone, Sears, K Mart and several other retailers. The Company continues to focus on this channel as it offers the best opportunity for Mace to grow its brand name and reach its consumers with product solutions and innovations.

Conference Call

Mace will conduct a conference call on Wednesday, June 19, 2013 at 11:00 AM ET, 8:00 AM PT. The participant conference call number is (877) 719-8065, conference ID: 97836277. There will also be access to a digital recording of the teleconference by calling (855) 859-2056 or (800) 585-8367 and entering the conference ID: 97836277. This will be available from two hours following the teleconference until July 19, 2013.

About Mace

Mace Security International, Inc. (PINK: MACE) is the manufacturer of personal defense products and markets these products and electronic surveillance products under the famous brand name Mace®, and is the owner and operator of a wholesale central monitoring station. Mace's web site is

Mace Security International, Inc.
Consolidated Statements of Operations
For the Three Months Ended March 31, 2013 and 2012

(Amounts in thousands, except share and per share information)

2013 2012
Revenues $ 3,244 $ 3,433
Cost of revenues   1,979     2,085  
Gross profit 1,265 1,348
Selling, general, and administrative expenses 1,814 1,691
Depreciation and amortization   109     115  
Operating loss (658 ) (458 )
Interest expense (60 ) (63 )
Interest income 13 11
Other income (expense)   (1 )   1  
Loss from continuing operations before income tax provision (706 ) (509 )
Income tax provision   -     5  
Loss from continuing operations (706 ) (514 )
Income (loss) from discontinued operations, net of tax   57     (19 )
Net loss $ (649 ) $ (533 )

The accompanying notes are an integral part of these consolidated financial statements.

Mace Security International, Inc.
John McCann, President and Chief Executive Officer, 440-424-5322
Mail to:

KEYWORDS:   United States  North America  Ohio


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