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CLEVELAND, OH / ACCESSWIRE / March 28, 2022 / Mace Security International (OTCQX:MACE) announced its monetary effects for the fourth quarter and full year of 2021 for the periods ended December 31, 2021.
Mace reported fourth-quarter net sales of $2,553,000, down 42% from 2020. The decline is the result of several factors, including problems with the supply chain, an overall slowdown in retail sales due to economic inflationary pressures, and a complicated comparison with strong retail sales in the fourth quarter of 2020 similar to social unrest that was not repeated in 2021. This decrease was amplified through a precipitous drop similar to the internalization of personal label filling customers. This decrease was partially mitigated through a 103% expansion in Guard Alaska Brand Mace bear spray. While the fourth quarter was challenging, net sales across all of the company’s retail and e-commerce channels rose as much as $532,000, or 5%, for the year compared to 2020 results.
The Company’s gross margin rate for the fourth quarter of 2021 was 37% compared to 40% in the same quarter last year. Gross margin decreased due to constant prices becoming a higher percentage of reduced sales volume along with higher transport prices; however, product margins increased quarter after quarter and producer prices declined. SG Expenses
Sanjay Singh, chief executive, said: “We had a difficult quarter due to an incoming order and we had to change very quickly. We executed our baseload relief plans, resulting in 16% relief compared to the same quarter last year. We expect below-normal revenue from some of our largest stores to continue and have developed action plans to mitigate this by further reducing controllable prices and expanding the penetration of our core business, which includes foreign customers, arms and ammunition retail stores through additional domestic sales. Efforts, and regional convenience retail outlets and sports retail outlets that are seeing an increase in pepper spray sales due to an increase in crime in the country’s express wallet.
Singh added: “In line with our mission, we seek to offer loose products to Ukrainian refugee women who would possibly be vulnerable to abuse or human trafficking. We plan to realize this initiative through a donation to a U. S. resident. He is in Ukraine with his wife with the existing scenario there.
The company announces the launch of its new chameleon product with a flexible look. Chameleon has replaceable “skins” that make it the first pepper spray on the market to allow for a personalized look. Like a chameleon, this new pepper spray will allow consumers to replace their appearance according to their own preferences, such as the colors of the Ukrainian flag for some of the games we will ship to Ukraine. The sturdy pepper spray jet provides up to 10 feet of coverage. Its unique design provides coverage against accidental downloads. and is helping the user to aim directly at their target. The chameleon will be available April 1 on Mace’s online page on www. mace. com and amazon.
On March 25, 2022, Bradley J. Dickerson, Director, announced that he would resign from the Company’s Board of Directors effective March 31, 2022 due to his urgent commitments. The Society would like to thank Mr. Dickerson for his contributions beyond 3 years.
Financial highlights for the fourth quarter of 2021
Fourth Quarter 2021 Operational Highlights
2021 Financial Highlights
Mace® will hold a conference call on Wednesday, March 30, 2022 at 11:00 a. m. m. EDT, 8:00 a. m. PDT to discuss its monetary and operational functionality for the fourth quarter and full year of 2021. by phone in the United States at (833) 360-0862. Use the convention identification number 4367119.
A virtual recording of the convention call will be available for playback once the call ends. It will be two hours after the call and will expire on April 6, 2022 at 11:59 p. m. m. To access the recording, use the topographic numbers indexed under and the convention ID 4367119.
Encore call number: (855) 859-2056 or (404) 537-3406.
The full set of monetary statements and an accompanying slideshow can be found on Mace’s online page www. corp. mace. com under the heading “Newsroom. “
About Mace Security International, Inc. Mace® Security International, Inc. (MACE) is a globally identified leader in private protection. Headquartered in Cleveland, Ohio, the company has spent more than 40 years designing and producing tactical and customer products for defense and non-public protection under its world-renowned Mace® logo – the trusted original logo of defense aerosol products. Non-public safety products with the Logo of ®, alarms with the Vigilant® logo and pepper sprays and stun guns with the Tornado® logo. and other channels. For more information, www. mace. com.
Forward-Looking Statements Certain statements and data included in this online page constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used on this site, the words or words “likely to result”, “is expected,” “will continue,” “is anticipated,” “estimates,” “planned,” “intends,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act 1995. Forward-looking statements are subject to various known and unknown hazards and uncertainties that may also cause our actual results, trends, functionality or achievements, or industry trends and results, to differ slightly from actual results, trends, functionality or achievements. long-term. expressed or implied by such forward-looking statements. These dangers and uncertainties could include, but are not limited to, (a) general economic and business conditions, as well as the influence of the COVID-19 pandemic and other imaginable pandemics and similar epidemics; (b) competition; (c) possible adjustments in visitor spending; (d) acceptance of our offers and product designs; (e) variability in customer spending resulting from adjustments in domestic economic activity; (f) a highly promotional retail environment; (g) any subtle variations between actual amounts and estimated amounts for matters known as our critical accounting estimates, as well as other significant accounting estimates made in preparing our monetary statements; (h) the effect on actual and future hostilities in various parts of the world, as well as other geopolitical or public propriety issues; (i) have an effect on interruptions and delays in the chain of foreign origin; (j) the effect on the Company of adjustments in US federal and state income tax regulations; and (k) the effect of inflation and the Company’s inability to pass on increases in value to its visitors. You are suggested to keep all those points in mind. Due to the uncertainty inherent in such forward-looking statements, it is worth not interpreting their inclusion as a representation that such forward-looking matters will come true. Mace Security International, Inc. assumes no legal responsibility to update those forward-looking statements to reflect actual results, adjustments in assumptions, or adjustments in other items that affect those forward-looking statements.
In this press release, the Company’s monetary effects and monetary direction are provided in accordance with U. S. Generally Accepted Accounting Principles (GAAP). U. S. and certain non-GAAP monetary measures data to investors and facilitates the investigation of the main effects of the Company’s operations and the comparison of the effects of operations between reporting periods. -GAAP monetary effects are included in the attached annexes.
CONTACT:Mike WeisbarthCHIO[email protected]
SOURCE: MACE SECURITY INTERNATIONAL INC
See the accesswire. com edition: https://www. accesswire. com/694977/Mace-RSecurity-International-a-Global-Leader-in-Personal-Self-Defense-Sprays-Announces-4Q21-Financial-Results
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