FORT LAUDERDALE, Fla.,
July 24, 2017 /PRNewswire/ -- Ocean
Bio-Chem, Inc. (NASDAQ: OBCI) announced today record net sales for
the second quarter and the first six months of 2017. For the second
quarter of 2017, net sales were approximately $9.9 million, compared to approximately
$8.7 million for the second quarter
of 2016, an increase of approximately 14% or $1.2 million. For the first six months of
2017, net sales were approximately $18.3
million, compared to approximately $15.5 million for the first six months of 2016,
an increase of approximately 18% or $2.8
million.
Ocean Bio-Chem. CEO & President Peter Dornau commented,
"We are pleased to be able to announce these record results.
In the case of our six months results, this is the fifth
consecutive year net sales reached record levels for the first six
month of the year. Our performance underscores the continuing
success of our investment in advertising and marketing efforts,
which has facilitated increased brand awareness and acceptance of
our high-quality Star brite® and Star Tron® products."
Mr. Dornau continued, "Our second quarter net sales were also
exceptionally strong, with net sales approaching $10 million. These results reflect
increased purchases of both Star brite® and Star Tron® products by several of the
Company's major customers."
Mr. Dornau concluded: "In the third quarter, the Company will
continue to invest in advertising and marketing to support our Star
brite®, Star
Tron® and Performacide® products, as
well as new product initiatives."
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'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 continued investment in advertising and
marketing in the third quarter 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
pdornau@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.