FORT LAUDERDALE, Fla.,
April 24, 2017 /PRNewswire/ -- Ocean
Bio-Chem, Inc. (NASDAQ: OBCI) announced today record first quarter
net sales. For the first quarter of 2017 net sales were
approximately $8.4 million, compared
to approximately $6.8 million for the
first quarter of 2016, an increase of approximately 24% or
$1.6 million.
Ocean Bio-Chem. Peter Dornau
commented, "We are especially pleased that for the second
consecutive year the Company has achieved record first quarter
sales. The increase in sales is a testimonial to the
continuing growth of brand awareness and acceptance of our quality
Star brite® and Star
Tron® products."
Mr. Dornau continued, "Our outlook for 2017 continues to be
positive. With improving employment, lower gas prices, and optimism
in the US economy, we believe there is increased consumer spending
on recreational sports, including water sports/boating and use of
recreational vehicles (RV's). In addition, improved boat and
RV sales, helps drive additional revenues for the Company."
Mr. Dornau concluded, "The Company continues to invest in new
products, consumer and trade advertising and customer marketing
programs to drive sales increases. We are cautiously
optimistic the strong sales trends will continue for the balance of
2017."
The first quarter 2017 financial statements, on SEC Form 10-Q
will be available at www.sec.gov by May 15,
2017.
About Ocean Bio-Chem, Inc.
Ocean Bio-Chem, Inc. manufactures, markets and distributes a
broad line of appearance and maintenance products for the marine,
automotive, power sports, recreational vehicle and outdoor power
equipment markets under the Star brite®, Star Tron®, Odor Star®,
Outdoor Collection and other brand names within the United States of America and Canada. In addition, the Company produces
private label formulations of many of its products for various
customers and provides custom blending and packaging services for
these and other products. The Company also manufactures, markets
and distributes a line of disinfectant, sanitizing and deodorizing
products under the Star brite® and Performacide® brand
names.
The Company trades publicly under NASDAQ Capital Markets, Ticker
Symbol: OBCI.
The Company's web sites are: www.oceanbiochem.com,
www.starbrite.com, www.startron.com and www.performacide.com
Forward-looking Statements:
Certain statements contained in this Press Release, including
without limitation, our ability to continue to achieve favorable
sales results and positive outlook for the balance of 2017,
constitute forward-looking statements. For this purpose, any
statements contained in this report that are not statements of
historical fact may be deemed to be forward-looking statements.
Without limiting the generality of the foregoing, words such as
"believe," "may," "will," "expect," "anticipate," "intend," or
"could," including the negative or other variations thereof or
comparable terminology, are intended to identify forward-looking
statements. These statements involve known and unknown risks,
uncertainties and other factors which may cause actual results to
be materially different from those expressed or implied by such
forward-looking statements. Factors that may affect these results
include, but are not limited to, the highly competitive nature of
our industry; reliance on certain key customers; changes in
consumer demand for marine, recreational vehicle and automotive
products; advertising and promotional efforts; exposure to market
risks relating to changes in interest rates, foreign exchange
rates, prices for raw materials that are petroleum or chemical
based and other factors addressed in Part I, Item 1A ("Risk
Factors") in our annual report on Form 10-K for the year ended
December 31, 2016.
Contact:
Peter Dornau
CEO & President
dornau@starbrite.com
954-587-6280
Jeff Barocas
Vice President & CFO
Jbarocas@starbrite.com
954-587-6280
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SOURCE Ocean Bio-Chem, Inc.