SOURCE: Ocean Bio-Chem

May 12, 2008 10:30 ET

Ocean Bio-Chem Posts First Quarter 2008 Results

FORT LAUDERDALE, FL--(Marketwire - May 12, 2008) - Ocean Bio-Chem, Inc. (NASDAQ: OBCI) today reported a net loss of ($.03) per share for the first quarter ending March 31, 2008, versus a net loss of ($.02) per share for the comparable first quarter of 2007. Net sales were approximately $3,745,000 for the quarter ended March 31, 2008, compared to $4,022,000 for the same quarter of the preceding year. Management stated that lower net sales between comparable quarters, was due primarily to the unusually cold weather and extended winter conditions in northern regions of the United States resulting in a delayed start of the 2008 recreational boating season.

First Quarter Ending
March 31                            2008           2007
--------                        ------------   ------------
Net Sales                       $  3,744,960   $  4,022,408
 Net (loss)                     $   (206,290)  $   (163,133)
  (Loss) per share              $       (.03)  $       (.02)
Average Shares Outstanding
 (basic and fully diluted)         7,822,066      7,621,316

Ocean Bio-Chem CEO Peter Dornau stated, "Profitability for the first quarter of 2008 was adversely impacted by the unprecedented increased costs in the raw materials and commodities markets. The unprecedented increase in oil prices in the first quarter 2008, increased raw material costs on many of our primary raw material ingredients, in addition to increases in transportation costs for both raw material inbound freight, and outbound freight to our customers. We continue to seek opportunities to enhance our operational efficiency to offset the above cost increases and seek additional opportunities to generate increased revenues with our marine, automotive and household products."

About Ocean Bio-Chem

Ocean Bio-Chem, Inc. manufactures and markets a full line of maintenance and care products for boats, recreational vehicles, automobiles, trucks and motorcycles. Products are sold under the Starbrite™, StarTron™ names as well as private label products. The full product line can be reviewed at www.starbrite.com. and www.startron.com. The Company trades publicly under NASDAQ SmallCap Symbol: OBCI. www.oceanbiochem.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.