Ocean Bio-Chem, Inc. Reports Key Sales Records — Third Quarter and Nine Months: All-Time Record Sales Third Quarter, All-Time Record Sales Year to Date
FORT LAUDERDALE, FL–(Marketwired – Oct 16, 2013) – Ocean Bio-Chem, Inc. (NASDAQ: OBCI), a leading manufacturer and distributor of appearance, performance, and maintenance products serving the marine, automotive, power sports, recreational vehicle and outdoor power equipment markets, announced today third quarter 2013 sales of approximately $10.5 million and sales for the nine months ended September 30, 2013 of $24.9 million, both record amounts for the Company.
Greg Dornau, Executive Vice President of Sales & Marketing, commented: “The sales growth in the third quarter was led by continuing increased sales of our fuel additive, StarTron®, in our automotive, power sports and outdoor power equipment sectors. In addition we achieved double digit sales growth of our newer MDG Mold Odor Control System products.”
“In the third quarter we also achieved comparative sales growth in our core marine markets, as the boating season was extended in certain areas of the country. Also, as parts of the Midwest of the United States turned colder the Company benefited from increased sales of our winterizing products including antifreeze in the third quarter,” Greg Dornau explained.
Peter Dornau, President & CEO, also commented: “We are especially pleased with our third quarter and nine month sales records. These records were accomplished despite the continuing sluggish US economy.”
“The ability of the Company to continue to increase sales in this slow growth economy is an indication that our increased expenditures in sales, marketing and advertising campaigns are positively affecting our sales growth. As part of our strategic plan we are gaining market share and expanding our business channels, laying the groundwork for a successful future,” Mr. Peter Dornau concluded.
About Ocean Bio-Chem, Inc.:
Ocean Bio-Chem, Inc. is principally engaged in the manufacturing, marketing and distribution of a broad line of appearance and maintenance products for boats, recreational vehicles, automobiles, power sports, outdoor power equipment and motorcycle markets under the Star brite®, StarTron® and other trademarks 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. It manufactures its products in a 300,000 s.f facility in Montgomery, Alabama, from which they are distributed across the globe.
The Company trades publicly under NASDAQ Capital Markets, Ticker Symbol: OBCI.
Certain statements contained in this Press Release including without limitation expectations as to future sales and operating results, constitute forward-looking statements. For this purpose, any statements contained in this report that are not statements of historical fact may be deemed forward-looking statements. Without limiting the generality of the foregoing, words such as “believe,” “may,” “will,” “expect,” “anticipate,” “intend,” “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 our actual results, performance or achievements to be materially different from any future results, performance or achievements 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 for changes in interest rates and in foreign exchange rates, and other factors.
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