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Mace(R) Security International, a Global Leader in Personal Self-Defense Sprays, Announces 4Q23 Financial Results [Yahoo! Finance]

MACE SECURITY INTL INC (MACE) 
Company Research Source: Yahoo! Finance
The Company's net sales for the fourth quarter were $1,683,000, down 21% versus the like period in 2022. The decrease vs prior year is mostly the result of a continuing slowdown in retail impulse purchases seen in the last two years due to inflation concerns across all sectors, as well as inventory adjustments at several retailers and base business segment. The decline vs prior year was partially alleviated in Q4, 2023 with 52% growth in e-commerce platform sales compared with Q4, 2022. Net sales when compared to Q3, 23 were up 12%. Mace reported a gross profit rate for the quarter of 22% vs 33%, or $325,000 lower than the prior year for the same quarter last year due to lower revenues, customer mix and inventory shrink. Increasing component and freight costs and the impact of lower sales were partially offset by price increases and lower manufacturing overhead. SG&A expense of $1,107,000 when adjusted for non-recurring legal and financing cost, expenses related primarily to the on Show less Read more
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