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Ocean Bio-Chem, Inc. Reports: Record Sales for 2nd Quarter and Six Months 2010

^{Published on 2010-07-20 08:20:33 - Market Wire}
 

FORT LAUDERDALE, FL--(Marketwire - July 20, 2010) - Ocean Bio-Chem, Inc. (NASDAQ: [ OBCI ]) reported today that net sales for the 2nd quarter 2010, were up approximately 29% to approximately $7,360,000 compared to $5,715,000 for the comparative quarter of 2009, an increase of $1,644,500. For the six months ended June 30th, 2010, net sales were approximately $12,558,000 compared to net sales of $9,825,000 for the comparative 2009 period, an increase of $2,732,000 or 28%.

Ocean Bio-Chem President and CEO Peter Dornau commented, "I am quite satisfied with our sales performance for both the three month and six months of 2010. The Company had record high sales revenue for the second quarter and six month periods ending June 30, 2010. Despite a slow economy the Company continues to increase sales of its products in our core marine market as well as increasing sales to newer markets and customers."

Peter Dornau continued, "In addition, sales to the Company's larger marine customers increased in the second quarter, as these customers replenished store inventory levels and purchased additional products in anticipation of an improved boating season."

About Ocean Bio-Chem

Ocean Bio-Chem, Inc. manufactures and markets a full line of maintenance and care products for boats, recreational vehicles, automobiles, motorcycles and aircraft. Products are sold under the Starbrite™ and StarTron™ names. The Company trades publicly under NASDAQ SmalICap Ticker Symbol: OBCI. The Company's web sites are:
[ www.oceanbiochem.com ], [ www.starbrite.com ] and [ www.startron.com ].

NOTE: The foregoing is news relating to Ocean Bio-Chem, Inc. (OBCI or "the Company") and contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements Involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. When used in this report, the words "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to the Company or its management, including without limitation the Company's other subsidiaries, are intended to identify such forward-looking statements. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by these forward-looking statements. For more detailed information the reader is referred to the Company's 10-K and other documents filed with the United States Securities and Exchange Commission.