SOURCE: Ocean Bio-Chem, Inc.

May 14, 2007 07:00 ET

Ocean Bio-Chem Posts First Quarter 2007 Results

FORT LAUDERDALE, FL -- (MARKET WIRE) -- May 14, 2007 -- Ocean Bio-Chem, Inc. (NASDAQ: OBCI) today reported a net loss of ($163,133) or ($.02) per basic and fully diluted share for the quarter ended March 31, 2007, from net income of $192,840 for the 2006 first quarter. Net sales for the first three months of 2007 amounted to $4,022,408 compared to $4,409,592 for the first quarter of 2006.

Peter Dornau, CEO of Ocean Bio-Chem, stated, "The first quarter tends to be our weakest quarter historically. Revenues during the first quarter of 2007 were also adversely affected by two other factors -- The whole marine industry business was down in the first quarter 2007, due to the prolonged inclement weather in the northern states (Midwest and Northeastern states). This delayed the start of the recreational boating season and a corresponding demand and use of the Company's marine products. To a lesser degree, one of our major customers, West Marine, ordered less goods in the first quarter 2007 when compare to the first quarter 2006, when they ordered additional product to bring their inventory to more satisfactory levels."

Peter Dornau continued, "We are making progress in sales and distribution of our products the to mass merchandiser market. Sales were up significantly in the comparative first quarter to this sector. In the first quarter we have also initiated advertising campaigns in both print and TV media showing the benefits of StarTron® products. These advertising campaigns target the marine, trucking and farm equipment sectors. We currently have commercials running on Ship Shape TV and print ads in selected magazines in the above sectors. I am cautiously optimistic; with the improving weather across the U.S., on a comparative basis the second quarter results should show improvements."

First Quarter Ending March 31        2007         2006
Net Sales                        $4,022,408    $4,409,592
Net income (loss)                $ (163,133)   $  192,840
Earnings per share (loss)        $     (.02)   $      .03
Average Shares Outstanding
 (basic & fully diluted)          7,621,316     5,849,316
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 Symbol: OBCI.,,

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. This does not constitute an offer to buy or sell securities by GeoMarketing, the Company or its subsidiaries and is meant purely for informational purposes.