Welcome!

News Feed Item

Mace® Reports Unaudited Financial Results for the Second Quarter Ended June 30, 2014

Mace Security International Inc., (OTCPINK: MACE) today announced unaudited financial results for the second quarter ended June 30, 2014.

Financial Results, Second Quarter Ended June 30, 2014 and 2013

  • Net sales for the second quarter of 2014 experienced a 2.3% increase.
  • Operating loss for the second quarter of 2014 decreased by 5.7%.
  • Net loss for the second quarter of 2014 was $0.00 per share, both basic and diluted, compared to a net loss of $ (0.01) per share, both basic and diluted in the same quarter a year ago, a $649,000 or $0.01 per share improvement.
  • EBITDA for the second quarter of 2014 was a loss of $155,000 compared to a loss of $763,000 for the second quarter of 2103, a $608,000 improvement for the quarter.

“Sales for the second quarter of 2014 improved from prior year second quarter and the first quarter of 2014. After the sluggish first quarter, due to the poor weather and lost shopping days at retail, sales in the second quarter rebounded slightly and July looks to be our best sales month so far this year. Although Consumer sales continue to lag last year’s comps, sales through our Tactical/Law Enforcement and International sales channels are up 117% and 45% respectfully for the year,” stated John McCann President and CEO of Mace Security International.

Conference Call

Mace will conduct a conference call on Wednesday, August 6, 2014 at 1:00 PM EDT, 10:00 AM PDT to discuss its financial results for the quarter and six months ended June 30, 2014, provide an update on the business, and respond to questions. The participant conference call number is (877) 719-8065, conference ID: 84013954. Presentation materials for the conference call will be available Wednesday, August 6, on Mace’s website under Investor Relations, Shareholder Transcripts & Presentations. There will also be access to a digital recording of the teleconference by calling (855) 859-2056 and entering the conference ID: 84013954. This will be available from two hours following the teleconference until September 6, 2014.

A full set of the Company’s Consolidated Financial Statements can be accessed through its website: http://corp.mace.com/investor-relations/annual-reports .

About Mace® Brand

Mace Security International, Inc. (OTCPINK: MACE) is the manufacturer of personal defense products and markets such products and electronic surveillance products under the well known brand name Mace®. www.mace.com.

Contact Information: Mace Security International, Inc., 4400 Carnegie Avenue, Cleveland, OH 44139. Email to: [email protected] . John J. McCann, President and Chief Executive Officer, 440-424-5322.

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)

 
June 30, December 31,
ASSETS 2014 2013
Current assets: (Unaudited)
Cash and cash equivalents $ 1,168 $ 4,923
Restricted cash 189 127
Short-term investments 5,748 2,597
Accounts receivable, net 1,053 1,732
Inventories, net 1,760 1,578
Prepaid expenses and other current assets   1,510   1,419
Total current assets 11,428 12,376
 
Plant and equipment, net

572

565

Other intangible assets, net 685 685
Other assets   741   1,148
Total assets

$

13,426

$ 14,774
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
 
Current liabilities:
Accounts payable $ 349 $ 392
Income taxes payable 59 62
Accrued expenses and other current liabilities   667   1,086
Total current liabilities 1,075 1,540
 
Long-term debt and capital lease obligations, net of current portion 1,171 1,106
Other liabilities 205 230
Total stockholders’ equity   10,975   11,898
 

Total liabilities and stockholders’ equity

$

13,426

$

14,774

 
     
Mace Security International, Inc.
Condensed Consolidated Statements of Operations
Three Months Ended June 30, 2014 and 2013
(Unaudited)

(Amounts in thousands)

 
2014 2013
Net sales $ 1,817 $ 1,776
Cost of goods sold   1,219     1,022  
 

Gross profit

598

754

 
Selling, general, and administrative expenses 1,185 1,384
Depreciation   43     38  
 

Operating loss

(630

)

(668

)

 
Interest expense (57 ) (53 )
Interest income 63 13
Other income   20     18  
 

Loss from continuing operations before income tax provision

(604

)

(690

)

 
Income tax provision (benefit)   (1 )   -  
 

Loss from continuing operations

(603

)

(690

)

 
Income (loss) from discontinued operations, net of tax of $0   411     (151 )
 

Net loss

$

(192

)

 

$

(841

)

 
     
Mace Security International, Inc.
Condensed Consolidated Statements of Operations
Six Months Ended June 30, 2014 and 2013
(Unaudited)

(Amounts in thousands)

 
2014 2013
Net sales $ 3,500 $ 3,967
Cost of goods sold   2,339     2,233  
 

Gross profit

1,161

1,734

 
Selling, general, and administrative expenses 2,590 2,843
Depreciation   87     76  
 

Operating loss

(1,516

)

(1,185

)

 
Interest expense (112 ) (112 )
Interest income 110 26
Other income   124     17  
 

Loss from continuing operations before income tax provision

(1,394

)

(1,254

)

 
Income tax provision (benefit)   -     -  
 

Loss from continuing operations

(1,394

)

(1,254

)

 
Income (loss) from discontinued operations, net of tax of $0   408     (236 )
 

Net loss

$

(986

)

 

$

(1,490

)

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin, ...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Building custom add-ons does not need to be limited to the ideas you see on a marketplace. In his session at 20th Cloud Expo, Sukhbir Dhillon, CEO and founder of Addteq, will go over some adventures they faced in developing integrations using Atlassian SDK and other technologies/platforms and how it has enabled development teams to experiment with newer paradigms like Serverless and newer features of Atlassian SDKs. In this presentation, you will be taken on a journey of Add-On and Integration ...
There are 66 million network cameras capturing terabytes of data. How did factories in Japan improve physical security at the facilities and improve employee productivity? Edge Computing reduces possible kilobytes of data collected per second to only a few kilobytes of data transmitted to the public cloud every day. Data is aggregated and analyzed close to sensors so only intelligent results need to be transmitted to the cloud. Non-essential data is recycled to optimize storage.
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership abi...
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to transi...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service.
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...