Mace Security International Inc. (MACE) manufactures personal defense and electronic surveillance products under the brand name Mace. The company also operates a digital media marketing, e-commerce business and car washes. Today the company announced its first-quarter results for the period ended March 31, 2008, posting an increase in revenues and net income.

Mace Security reported net income for the quarter at $4 million, up from a loss of $658,000 reported in the first quarter of last year. Total revenues were $14.5 million, up from $9.8 million for the same quarter of 2007. The company attributes the increase to its Digital Media Marketing Segment purchased in July 2007.

The company recently announced it would exit from its Car Wash Segment, and reported a decrease to $3.8 million for segment’s first quarter, down from $4.4 million last year. Mace plans to discontinue its Arizona, Florida and Northeast car wash regions, as well as its truck wash operations.

As of March 31, 2008, Mace’s net book value was $57.6 million, or $3.50 per share. In addition, Mace had $74.5 million in total assets, including $17.1 million of cash and short-term investments.

Let us hear your thoughts below: