Mace Reports Second Quarter 2018 Financial Results
CLEVELAND--(BUSINESS WIRE)--Aug 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 2017Net 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
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/
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.
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180806005498/en/
CONTACT: Mace Security International Inc.
President and Chief Executive Officer
John J. McCann, 440-424-5322
KEYWORD: UNITED STATES NORTH AMERICA OHIO
INDUSTRY KEYWORD: WOMEN OTHER CONSUMER MANUFACTURING CHEMICALS/PLASTICS OTHER MANUFACTURING TEENS DEFENSE RETAIL OTHER DEFENSE SPECIALTY OTHER RETAIL CONSUMER MEN
SOURCE: Mace Security International Inc.
Copyright Business Wire 2018.
PUB: 08/06/2018 12:53 PM/DISC: 08/06/2018 12:53 PM