SOURCE: Ocean Bio-Chem., Inc.

January 11, 2010 11:00 ET

Ocean Bio-Chem., Inc. Reports Record Year 2009 Sales Results: Increase of Approximately $3.6 Million or 17.5%

FORT LAUDERDALE, FL--(Marketwire - January 11, 2010) - Ocean Bio-Chem., Inc. (NASDAQ: OBCI) reported today record net sales, for the year ending December 31, 2009, of approximately $24,568,000 compared to net sales of $20,918,000 for the year 2008, an increase of $3,650,000 or 17.5%.

For the fourth quarter 2009, net sales were $5,837,000 compared to $3,961,000 for the fourth quarter of 2008, an increase of approximately $1,876,000 or 47.4%.

Ocean Bio-Chem. President and CEO Peter Dornau commented, "Despite an extremely difficult economy, the Company has continued to increase sales of our products both in the Company's core marine industry as well as expanding into newer markets. Large sales increases were recorded in the Company's Private Label product group to newer as well as established customers. In addition, as previously disclosed, the Company increased its sales in excess of $1,000,000 of winterizing products to a new customer."

On the fourth quarter, Peter Dornau commented, "The sales increases in the fourth quarter of approximately $1,900,000, is a confirmation as to the success of our sales team and the implementation of the Company's marketing plans. As part of the marketing plans the Company continues to reinvest in brand and product awareness, with increased consumer advertising which is a contributor to increased sales. We have also invested in the use of technology for both sales presentations as well as customer training."

Peter Dornau concluded, "I am very pleased at the progress our Company has made in 2009. The Company's cash flow was strong in the fourth quarter and our balance sheet is strong. We are cautiously optimistic that the Company's sales success will be translated into a successful 2009 full year profit. As we look forward in 2010, OBCI outlook appears bright. I will comment further on the 2010 outlook when the Company releases the full year financials later this quarter."

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™ name. The Company trades publicly under NASDAQ SmallCap 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.

Contact Information

  • For additional information contact:

    Peter Dornau
    peter@starbrite.com
    (954) 587-6280
    President and CEO
    Ocean Bio-Chem., Inc.

    Jeff Barocas
    jbarocas@starbrite.com
    (954) 587-6280
    Chief Financial Officer
    Ocean Bio-Chem., Inc.