Mace Security International, Inc., a manufacturer of electronic surveillance, security and personal defense products, and an owner and operator of car and truck wash facilities, today announced results for the first quarter ended March 31, 2007.
Financial Results
The net loss for the first quarter of 2007 was $658,000, or $(0.04) per share, compared to a loss of $966,000 or $(0.06) per share for the first quarter of 2006.
Total revenues for the quarter ended March 31, 2007 were $11.6 million compared to $13.3 million for the same period in 2006. The decrease in revenues was primarily due to a decrease in revenues from the Security Segment of approximately $1.1 million, or 16.7%, in the first quarter of 2007 compared to the first quarter of 2006. The change in revenues within the Security Segment was principally due to a decrease in sales of our consumer direct electronic surveillance and machine vision camera and video conferencing equipment in Texas and our professional electronic surveillance operation in Florida. The decrease in sales in our professional electronic surveillance operation was partially a result of sales of discontinued and refurbished products at lower prices, the inability of some of Mace’s vendors to supply high volume products in a timely manner, and the impact on operations and management of the Florida embezzlement investigation. This decrease in sales was partially offset by growth in revenues in our personal defense and law enforcement aerosol operations. Car wash and detailing revenues decreased... (more)
