This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Mace Reports Financial Results For The First Quarter Ended March 31, 2012

Mace Security International, Inc. ("Mace" or the “Company”) (OTCQB: MACE) today announced financial results for the first quarter ended March 31, 2012.

2012 First Quarter and Current Highlights

  • Mace completed the sale of a car wash facility located in Arlington, Texas on February 29, 2012 for a sales price of $2.1 million. The Company netted $1.57 million in cash proceeds from the sale, after closing costs and related mortgage debt. With the sale, the Company nears its exit of the car wash business. Mace currently operates only two car wash facilities, one of which is under an agreement of sale.
  • Mace announced the appointment of Michael Kallio as Director of Business Development of Mace Central Station (“Mace CS”), the Company’s wholesale central monitoring station located in Anaheim, California. Mr. Kallio has over 26 years of experience in the security monitoring industry.

John J. McCann, President and CEO of Mace, stated, “The first quarter of 2012 was one of our most successful and promising quarters in recent history. We continued the momentum that was started during the fourth quarter of 2011 and were able to achieve significant sales growth, especially in our personal defense division. With the revenue growth we experienced, combined with certain operating management changes and our continued focus on overhead reductions and operating efficiencies, I believe we have positioned the Company for continued improvements in operating results and we are getting closer to being profitable.”

Mr. McCann added, “It really is an exciting time at Mace. Our operations have stabilized, and we continue to strengthen the recognition and value of our Mace brand name with our dedicated Mace team focused on continued growth through internal sales and a continued search for accretive acquisition candidates.”

Financial Results, First Quarter of 2012 Compared to First Quarter of 2011

Total revenues for the first quarter ended March 31, 2012 were $3.4 million, as compared to $3.6 million for the same period in 2011. Despite a significant increase in revenues in our personal defense operation of $551,000, or 49%, and an increase in revenues within our wholesale monitoring division of approximately $259,000, or 31%, with the March 2011 acquisition of The Command Center, Inc. (“TCCI”), overall revenues declined largely as a result of the absence of $515,000 of sales from IVS, our high-end digital and machine vision camera operation which was sold in October 2011. Our professional and consumer direct home and small business electronic surveillance division also experienced a reduction in sales of $455,000 due to several factors, including the impact on sales of increased competition, direct sales by Asian manufacturers, the loss of a large customer, a reduction in spending by many of our customers due to the poor economy, and a decision by management to focus on consumer direct home and small business product sales versus high-end professional market products. As noted above, our personal defense operations experienced an increase in sales of approximately 49%, from 2011 to 2012, with a 44% increase in the sale of our aerosol defense products, a 34% increase in our wireless home security system and other non-aerosol products, and a 289% increase in our TG Guard systems.

Stock quotes in this article: MACE 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,262.56 +89.32 0.55%
S&P 500 1,842.98 +12.37 0.68%
NASDAQ 4,034.1610 +11.4670 0.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs