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| Ocean
Bio-Chem Announces Promotion Campaign With "Steve Crowley's American
Scene" Radio Show
FORT LAUDERDALE, FL--(MARKET WIRE)--Feb 5, 2007 -- Ocean Bio-Chem, Inc. (NasdaqCM:OBCI - News) today announced that it has commenced a four month campaign on the nationally syndicated radio program, "Steve Crowley's American Scene." Members of the Company's management team will be interviewed by Mr. Crowley and such interviews will be broadcast three - four times per week. The thrust of the interviews will be to familiarize the show's estimated 3.5 million daily listeners with the Company's products, prospects and other noteworthy matters relating to Ocean Bio-Chem. During this first week of broadcasting, new product introductions, enhanced distribution through the recently announced Wal-Mart relationship, a discussion of the Company's manufacturing and distribution facility and other items were included in the interviews. Peter G. Dornau, CEO and President, indicated that, "We expect this effort will greatly increase the number of investors evaluating the Company as well as bring many new consumers to our customers' retail facilities to purchase our 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, motorcycles and aircraft. Products are sold under the Starbrite(TM) name. 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. 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. Ocean
Bio-Chem Profit Increase Jumps at Nine-Months Ending September 30, 2006
Ocean Bio-Chem President
and CEO Peter Dornau described the financial progress of the Company to
date, "The 3rd Quarter of 2006 was buoyed by our favorable Anti-freeze
season as well as largest customer resuming their purchasing, after apparently
reaching their inventory goals. Additionally, new customer development
and sales price increases passed along to customers to cover increasing
costs during the past nine months helped to produce a solid jump in profit.
This was reflected in a cost of goods sold decrease to 71 % of Net Sales
for the nine months ended September 30, 2006 compared to 80% of Net Sales
for the nine months ended September 30, 2005. Moreover, our improved margins
were boosted not only by sales price increases to customers but also by
certain initiatives adopted in our manufacturing processes, and the result
of spreading the fixed element of our manufacturing overhead over the
higher reported sales levels." Dornau added, "In
order to trim interest costs, on November 10, 2006 I notified the Company
that I am exercising my conversion rights on the $1.5 million that I loaned
to the company and, accordingly, our long-term debt will be reduced and
shareholders' equity will be increased by the approximate $1,250,000 net
obligation reflected on the September 30, 2006 financial statements. Ocean
Bio-Chem Reports Financial Results for 2nd Quarter Ending June 30, 2006
For the six-month period ending June 30, 2006 the Company reported net income (loss) of approximately ($20,396) or ($ - ) per share versus net income (loss) of ($887,442) or ($.06) per share for the comparable six-month period in 2005. Net sales increased 13.8% to approximately $8,741,100 for the six-months ended June 30, 2006 compared to approximately $7,682,900 for the six months ended June 30, 2005. Management attributed such increase significantly to its largest customer resuming their purchasing after apparently reaching their inventory goals pursuant to their publicly announced inventory reduction of 2005.
Peter Dornau, President and Chief Executive Officer of Ocean Bio-Chem, commented, "Overall, at the six-month mark, we have demonstrated a solid improvement for 2006 versus 2005. Cost of goods sold decreased to 71.1% of net sales for the six months ended June 30, 2006 compared to 78.2% of net sales for the six months ended June 30, 2005. This progress was supported by sales price increases passed along to our customers, certain initiatives adopted in our manufacturing processes, and the result of spreading our fixed element of manufacturing overhead over the higher sales levels experienced during the six-month period. On this note, we are pleased to report increased net sales of 13.8% at six months in 2006 versus 2005. Consequently, we are better positioned at this time in 2006 for improved performance than we were in 2005." About Ocean Bio-Chem Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean
Bio-Chem Reports Profit for First Quarter 2006
Ocean Bio-Chem CEO
Peter Dornau expounded, "As disclosed in our Form 10-Q for the quarter
ended March 31, 2005, our largest customer, West Marine, publicly announced
their adoption of a policy to reduce their overall inventory levels. This
policy adversely impacted our revenues for all of 2005. By the close of
the first quarter 2006, West Marine had increased their purchases from
us significantly over the 2005 first quarter. This increase in revenues
was further enhanced by a sales price increase passed along to substantially
all customers effective January 2006. NEWS
RELEASE 2005 Highlights: -- 2005 season's hurricanes caused only minimal direct damages to Company facilities and operations. -- Adopted Kinpak Inc. plan for reduction in material manufacturing costs thereby anticipating improved product margins and operations during 2006.
Management stated that net sales decreased 18.5% to approximately $17,652,000 for the year ended December 31, 2005 compared to approximately $21,657,100 for the year ended December 31, 2004. Management attributes such decrease significantly to its largest customer adopting a policy of reducing their inventory levels. This has resulted in an approximate $4,294,000 decrease in sales to that customer for the year ended December 31, 2005 compared to 2004. Peter Dornau explained,
"Company operations during the year ended December 31, 2005 were
adversely impacted by four significant challenges; an increasingly unstable
commodity market causing increased cost for petroleum related products,
the announcement by our largest customer (West Marine) that they have
adopted a policy of reducing their inventory levels, our immediate geographic
area sustaining three separate major hurricanes, and a decrease in our
manufacturing efficiency resulting in higher product costs. In response,
we have adopted a strategy to provide the Dornau continued, "Effective during the fourth quarter of 2005, we announced yet another sales price increase. In addition, we have alerted customers who purchase products, which are heavily dependent on this petroleum related issue, that we will be more responsive to commodity pricing and they must be receptive to short-term price swings or accept our refusal to ship at previously established pricing. Further, we have identified several areas that require improvement at our Kinpak Inc. facility and through increased on-site management presence, major personnel changes, and a variety of enhancements, we believe that we will achieve a material reduction in manufacturing cost thereby improving product margins and operations during 2006." "It appears that
West Marine has reached their goals and, during the first quarter of this
year has ordered product from us more closely aligned with historical 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 Star brite(TM) name. 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. 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. SOURCE: Ocean Bio-Chem, Inc. Ocean Bio-Chem, Inc.
Peter Dornau, 954-587-6280 www.oceanbiochem.com or Ocean
Bio-Chem Reports Third Quarter Ending September 30, 2005
Company management
stated that operations during the first nine months of 2005 were adversely
impacted by four significant challenges: The foregoing resulted in material losses during each of the three quarters of the current year and the Company anticipates another loss during the fourth quarter. In response to these challenges the Company has devised strategies to provide the required working capital to cover these losses, maintain a sales pricing model that more closely follows pertinent commodity fluctuations and address those areas of manufacturing and other operations that can be improved. Ocean Bio-Chem CEO
and President Peter Dornau reported, "This season's hurricanes caused
only minimal direct damages to our facilities and operations, principally
power outages and the related down-time. However, the devastation sustained
in the geographic areas that were impacted was significant and contributed
to a reduction in sales to our retail and distribution customers both
in that region and nationally. In addition, the cost of petroleum related
products, major components in many of our products, which were already
in an increasing cost spiral, became even more unstable. This is clearly
a rough patch for the Company and to ensure that we have adequate working
capital, I am offering either personally or through affiliates, to advance
funds aggregating from $1 million to $1.5 million to the Company in order
to sustain working capital during this, what we believe to be, a temporary,
period of adjustment. We expect that the terms and other arrangements
for this financing will be finalized during the upcoming quarter and,
at that time, appropriate public disclosures will be made. We hope to
report progress in meeting the challenges that lay ahead and thank you
for your patience in these difficult times." Ocean
Bio-Chem Reports Financial Results for 2nd Quarter Ending June 30, 2005
For the six-month period of 2005, Net sales decreased 13.5% to approximately $7,682,900 for the six months ended June 30, 2005 compared to approximately $8,883,100 for the six months ended June 30, 2004. Management attributes the decreased sales mostly to its largest customer adopting a policy of reducing their inventory levels coupled with the unusually cold weather in various regions of our country resulting in the consequential delay in the start of the 2005 recreational boating season.
Peter Dornau, President and Chief Executive Officer of Ocean Bio-Chem, stated, "Despite our best efforts, natural forces and changes in customer ordering patterns clearly affected sales. Further, cost of goods sold increased to 78.2% of net sales for the six months ended June 30, 2005 compared to 75.9% of net sales for the six months ended June 30, 2004. This change resulted principally during the quarter ended March 31, 2005 and was attributed to increasing materials costs of petroleum related products which are significantly consumed in the production of our products. During May 2005, we announced a substantially "across the board" sales price increase to our customers in the 8% - 10% range effective June 1, 2005. The result of this increase has yet to be fully realized. We anticipate that it will favorably impact the second half of 2005 and we look forward to improved performance in the remainder of the year."
For additional information
contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean Bio-Chem Reports First Quarter Results for 2005 -Announces Filling of Two Key Positions and Price Increase- Fort Lauderdale, Florida, May 16, 2005. Ocean Bio-Chem, Inc. today reported a net loss of ($ .10) per share for the first quarter ending March 31, 2005 versus a net loss of ($ .03) per share for the comparable first quarter of 2004. Net sales decreased approximately 10% to $3,477,511 for the quarter ended March 31, 2005 compared to $3,903,944 for the same quarter of the preceding year. Management stated that lower net sales between comparable quarters, was due primarily to its largest customer adopting a policy of reducing its inventory levels coupled with the unusually cold weather and extended winter snow conditions in various regions of the United States country resulting in a delayed start of the 2005 recreational boating season. Cost of goods sold was also cited as a contributing factor toward the reported loss as reflected in cost of goods sold of 88.5% of net sales compared to 78.3% of net sales for the quarters ended March 31, 2005 and 2004, respectively.
Ocean Bio-Chem CEO Peter Dornau stated, "Profitability for the first quarter of 2005 was adversely impacted by the unprecedented unstable raw materials and commodities markets and increased administrative costs. The seemingly daily increases in petroleum related and other direct materials utilized in the manufacturing of our products and reduced sales levels created a challenging first quarter business environment. In response to increasing costs, during May 2005 we announced to our customers an "across the board" sales price increase in the 8% - 10% range effective June 1, 2005. In addition, 2005's first quarter administrative expenses included two key positions: Vice President - Operations and National Sales Manager - Automotive that were not present during the comparable 2004 period. We continue to seek opportunities to enhance our operational efficiency and generate increased revenues with our core marine, automotive and household products as well as our ancillary lines, such as bottle sales and contract filling." About Ocean Bio-Chem For additional information
contact: 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. Keyword: Florida Industry Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean Bio-Chem Announces 2004 Year End Financial Results -Posts Record Revenues for 2004- Fort Lauderdale, Florida, March 30, 2005. Ocean Bio-Chem, Inc. today reported net earnings for the calendar year ending December 31, 2004 of $ .02 per share or $134,554 versus $ .07 per share or $345,071 for the comparable 2003 year. Highlights:
Management attributes the 2004 increase in net sales to gains made during the fourth quarter of the year resulting from enhanced sales promotions. Cost of goods sold increased to 77% of net sales for the year ended December 31, 2004 as compared to 75.7% of net sales in the year ended December 31, 2003. Management explained specifically that petroleum product costs were higher than those experienced in prior years and therefore represented a higher portion of the company's manufacturing expenses. Price increases were passed along on certain products during the first and second quarters of 2004. The company anticipates further price increases during early 2005. Increased co-op advertising associated with increased sales to certain customers together and the timing of various advertising programs in 2004, resulted in increased advertising and promotion expenses of approximately $201,000 for 2004 versus 2003. Selling and administrative expenses for 2004 increased by approximately $100,000 or 3% vs. 2003. The increase was primarily due to higher personnel costs and other normal recurring increases in operating expenses. Ocean Bio-Chem President
and CEO Peter Dornau commented on the 2004 calendar year results, "The
fourth quarter proved to be one of our best ever and helped us to finish
2004 with a fourth consecutive year of profitability and all time record
revenues. We look forward to 2005 and another year of continuing growth." Ocean
Bio-Chem Receives Initial Order from Advance Auto Stores Headquartered in Roanoke, VA, Advance Auto Parts is the second largest specialty retailer of automotive parts, accessories, and maintenance items to "Do-it-yourself", or DIY, customers in the United States. As of October, 2004, Advance had 2,612 stores in 39 states, Puerto Rico and the Virgin Islands. Its 2003 sales topped $3.49 billion. Ocean Bio-Chem CEO and President, Peter Dornau stated, "These first orders from Advance help indicate through hard evidence the potential for Star brite's automotive marketing program which ultimately hopes to expand its marine presence throughout the multi-billion dollar automotive retailer market. Automotive retailers represent a huge market opportunity and are a relatively untapped segment by the marine industry. It's a natural placement for Star brite products as most boat owners drive cars. Now the products they need and use will be under one roof. Between Advance Auto and other major auto retailers there are thousands of potential additional outlets for Star brite products." Mr. Dornau continued, "In addition to the introduction of selected marine line items, we are very enthusiastic about our Startron Fuel Additive product. It is a unique new enzyme fuel additive for gas or diesel engines that both improves fuel efficiency and helps cut down on harmful pollutants. Star brite licensed the exclusive rights to market and sell Startron in all retail markets from Solpower Corporation. Last year we started marketing Startron in the marine marketplace and the reaction to the product has been outstanding. Placement of Startron with Advance gives us an opening to develop the huge automotive aftermarket channels. The potential for Startron is truly stellar." About Ocean Bio-Chem For additional
information contact: 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. Keyword: Florida Industry Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean
Bio-Chem Reports Preliminary Revenues for the Year Ended December 31,
2004 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. www.oceanbiochem.com For additional
information contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean
Bio-Chem Comments on Recent Trading Activity Ocean Bio-Chem CEO
Peter Dornau stated, “The Company does not participate in About Ocean Bio-Chem For additional
information contact: NOTE: The foregoing
is news relating to Ocean Bio-Chem, Inc. (OBCI or “the Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Ocean
Bio-Chem Announces Stock Purchase Program About Ocean Bio-Chem For additional
information contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean
Bio-Chem Reports Operating Results for Nine Months Ending September 30,
2004
Ocean Bio-Chem President and CEO Peter Dornau commented: "In the Third Quarter we weathered three hurricanes in the Southeast and continued to experience record prices for petroleum based raw materials. The higher cost of goods relating to the price of oil was offset to some extent with our previously announced general sales price increase. In addition, we adjusted prices further when practical and continued to take advantage of cash discounts offered by suppliers, and product pricing in response to current commodity cost pressure. Net Sales continue to increase overall and we continue our positive outlook for profitable year end." About Ocean Bio-Chem CONTACT: Ocean
Bio-Chem, Inc. SOURCE: Ocean Bio-Chem,
Inc. Ocean
Bio-Chem Reports Profit for 2nd Quarter Ending June 30, 2004 For the six-month
period of 2004, Gross Sales increased by approximately 17% or approximately
$1,511,300 when comparing the six-month periods of 2004 and 2003. Management
attributes the increase to mild weather in the northern states causing
an early start of the boating season and thereby increased sales of marine
products.
Ed Anchel, Chief Financial Officer of Ocean Bio-Chem, stated, "In the second quarter cost of goods sold increased as a percentage of net sales when comparing the quarter ended June 30, 2004 with the comparable quarter in 2003. The percentages were 74.42 % and 71.03% for the respective quarters. The increased costs relate mainly to higher oil and other raw materials pricing, some of which hit record industry highs during the second quarter. We are currently evaluating the possibility of further sales price increases in addition to those implemented in the first quarter of 2004 to offset these rising costs. However, for market considerations we are holding steady for the near term with hope that higher material costs will adjust to more favorable levels." Peter Dornau, President
and Chief Executive Officer of Ocean Bio-Chem, commented, "While
our business is continuing to make solid sales gains, this progress was
overshadowed by increased petroleum based raw materials costs. Further,
advertising and promotion expenses increased approximately $140,100 or
43% for the first six-months of 2004 vs. 2003 and allowances to preferred
customers increased approximately $500,000 in the 2nd Quarter of 2004
vs. 2003. These increased co-op advertising, discounts and promotional
expenses are associated with increased sales and anticipated sales to
key customers. Although we do not offer guidance on the possibility of
future sales or performance, we are optimistic that such efforts will
provide us with the ability to achieve continuing progress in 2004." For additional
information contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean
Bio-Chem Posts First Quarter 2004 Results
Ocean Bio-Chem CEO Peter Dornau stated, "The first quarter of 2004 showed a strong improvement over the first quarter of 2003. Despite tending to be our weakest quarter historically and even with higher product pricing, we delivered increased sales to produce the second highest level of first quarter net sales in the last five years. A more favorable product mix also helped augment the benefit of increased sales pricing, boosting gross margins to 21.8% from 11.3% as a percentage of net sales for the quarters ended during 2004 and 2003. Overall, the increased sales, product mix and better pricing of the first quarter 2004 yielded a significantly narrowed loss over the 2003 first quarter and a solidly improved start to fiscal 2004." About Ocean Bio-Chem For additional
information contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean
Bio-Chem Reports Profit for Year Ending December 31, 2003
Ocean Bio-Chem President
and CEO Peter Dornau stated, "We experienced a tough beginning in
2003. The start of the War in Iraq, increases in petroleum based raw materials,
and bad weather in many parts of the country all contributed to a depressed
$.14 per share loss for the first quarter. We recovered, however, to produce
three consecutive quarters of profit and to finish the year with a profit
up 233% over 2002. We have now produced three consecutive years of profitable
operations. During 2003 we completed the addition of a 70,000 square foot
addition to our Kinpak Manufacturing Facility setting the stage to allow
us to aggressively compete in the future. About Ocean Bio-Chem For additional
information contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean
Bio-Chem Reports Profit for
Nine-Months Ending September 30, 2003
Ocean Bio-Chem President and CEO Peter Dornau stated, "We are very pleased to report a second consecutive quarter of solid earnings and a return to profitability at the nine-month mark. In addition, we set an all time record for third quarter net earnings per share. This achievement was due in part to improved gross margins and decreased cost of goods sold as a percentage of net sales, from 73% to 80% respectively, when comparing the quarters ended September 30, 2003 and 2002. We also initiated a general sales price increase, utilized cash discounts offered by suppliers, and product pricing in response to current commodity cost pressure. Gross Sales to date in the fourth quarter 2003 and we are looking forward to a strong profitable year end." About Ocean Bio-Chem For additional information
contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean Bio-Chem Shows Profit for the Quarter Ending June 30, 2003 FORT LAUDERDALE, Fla., Aug 13, 2003 (BUSINESS WIRE) -- Ocean Bio-Chem, Inc. today reported net income for its 2nd Quarter or three-month period ending June 30, 2003 of $ .08 per share versus $ .03 per share for the same period in 2002. For the six-month periods ended June 30, 2003 and 2002, the Company reported net income (loss) of ($.06) per share for 2003 versus net earnings of $ .05 per share for the comparable six-month period in 2002. Gross Sales grew to $5,462,282 representing an increase of approximately 14.4% or $788,000 for the quarter ended June 30, 2003 when compared to the same quarter of the preceding year. The increase was attributed by management to recently introduced new marine oil products and differences in timing of customer orders when comparing the 2003 and 2002 periods. For the six-month period of 2003, Gross Sales decreased by approximately $241,000 or 2.7% when comparing the six-month periods of 2003 and 2002. Management attributed the decrease to a very weak first quarter caused by weather problems throughout the United States and a change in ordering policies by one of the Registrant's larger customers.
Cost of goods sold increased as a percentage of net sales to 77.4% from 73.1% when comparing the six-months ended June 30, 2003 with the comparable period in 2002. The increase was assigned mainly to higher petroleum product costs. Selling and administrative expenses increased for the six-months ended June 30, 2003 by approximately $ 265,800 or 19.9% when compared to the six-months ended June 30, 2002. Management stated that the change was attributed to increased personnel costs and other normal recurring increases in operating expenses. 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(TM) name. 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. 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. SOURCE: Ocean Bio-Chem, Inc. Ocean Bio-Chem, Inc. Ocean
Bio-Chem Reports First Quarter Results for 2003 Fort Lauderdale, Florida, May 15, 2002. Ocean Bio-Chem, Inc. today reported a net loss of ($ .14) per share for the first quarter ending March 31, 2003 versus a profit of $ .01 per share for the comparable first quarter of 2002. The loss coincided with a decrease in net sales of 26.7% or $1,047,000 for the quarter ended March 31, 2003 versus the comparable quarter of the preceding year. Management attributed the decrease in sales chiefly to colder weather in the northern states causing delays in the start of the boating season and a shift in large customer shipments. These factors have returned to normal during the March/April time frame.
Ocean Bio-Chem CEO Peter Dornau commented, "The combined elements of weather, uncertainty surrounding the war in Iraq and conservative shifting of customer ordering clearly hindered our performance in the first quarter. Additionally, cost of goods sold increased as a percentage of net sales 88.7% and 74.5% for the quarters ended during 2003 and 2002, respectively. Since many of our products contain petroleum-based raw materials, the impact was even more adverse. To counteract these factors we have increased prices where possible on certain products which will be reflected in the quarter ending June 30, 2003. It should also be noted that subsequent to the first quarter and as a result of the termination of the war in Iraq, petroleum pricing has stabilized and has started drifting lower." Mr. Dornau continued, "In closing, during March/April and so far into May there has been a positive shift to a more normalized trend in weather and customer orders. Coupled with the ending of the war and more stabilized raw good pricing we see room for an optimistic future outlook." About Ocean Bio-Chem For additional information
contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean Bio-Chem, Inc. Reports Earnings for Year Ending December 31, 2002 -Second Consecutive Year of Profit; Earnings Steady at $ .03 Per Share- Fort Lauderdale, Florida, March 28, 2003. Ocean Bio-Chem, Inc. today reported net earnings of $.03 per share (fully-diluted) for the year ending December 31, 2002 on record net sales of $20,585,898. Earnings for 2002 versus 2001 increased slightly while net sales increased by over 14% versus 2001 net sales of $18,013,393. Company management stated that the increase in net sales for 2002 versus 2001 was due mainly to continued growth in the Company’s marine and automotive oil product lines.
Ocean Bio-Chem President and CEO Peter Dornau summarized, “In 2001 we reported a profit of $ .03 per share on record revenues. In 2002 we are again pleased to report record revenues breaking the $20 million mark for the first time in our history and a second consecutive year of profit again at slightly more than $ .03 per share. Although general economic growth was slowed by recession and the uncertainty of world markets, we continued to make headway in new product sales. The rising price of oil and other petroleum based raw goods may skew sales toward lower margins however, we have taken steps to address such cost increases by raising prices where possible and by offering favorable volume based pricing.” Mr. Dornau continued, “We are pleased to report settlement of outstanding litigation and the associated profit hindering expenses we incurred over the last several years. We are hopeful that those savings will be available to report as future earnings in 2003 and thereafter. With respect to growth and profitability in 2003, we intend to introduce a minimum of twelve new products into several existing lines during 2003. However, the current war and associated uncertainty of key markets make in impossible to formulate a reliable forward-looking statement about performance for the coming year. We will, as always, continue to seek ways to maximize efficiency of our Kinpak manufacturing facility and search out new opportunities for increasing sales and profitability in 2003.” 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 site is: www.oceanbiochem.com.
For
additional information contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals -Net Sales for the 3rd Quarter Sets New All-time Record- Fort Lauderdale, Florida, November 14, 2002. Ocean Bio-Chem, Inc. today reported net earnings for its 3rd Quarter or three-month period ending September 30, 2002 of $ .05 per share versus $ .01 per share for the same period in 2001. For the nine-month period ended September 30, 2002 and comparable period ending September 30, 2001, the Company reported net earnings of $.10 per share for 2002 versus net earnings of $ .02 per share for the comparable nine-month period in 2001. Net Sales for the 2002 3rd Quarter were $6,847,351 versus $5,537,576 for the 2001 3rd Quarter. For the nine-month period of 2002, Net Sales grew approximately 12% from $13,384,091 in 2001 to $15,030,257 for the nine-month period of 2002.
Ocean Bio-Chem President
and CEO Peter Dornau commented, "We are now reporting a sixth consecutive
quarter of profitability. Gross sales increased approximately 24% or $1,499,000
for the quarter ended September 30, 2002. Gross sales increased 13% or
approximately $1,850,000 when comparing the nine-month periods of 2002
and 2001. Both increases were primarily due to improved sales of our anti-freeze
program as well as increases in our core marine and automotive products.
Our net sales aggregating $15,587,467 for the 2002 nine-month period is
an all time Company record. About Ocean Bio-Chem For additional information
contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean
Bio-Chem Posts Increased Profit for Six-Months Ending June 30, 2002
Ocean Bio-Chem President
and CEO Peter Dornau stated, "We have now posted five consecutive
quarters of profitability. Gross sales for the first six-months of 2002
increased approximately $351,000 over 2001's record revenues. Earnings
performance improved five-fold to $.05 per share in 2002 versus $.01 per
share for 2001. We continue to envision solid revenue growth for 2002
and believe that we are on track for increased earnings well above our
previous year." For additional information
contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean
Bio-Chem Announces That It Will Seek New Hyundai Plant Business For additional information
contact: 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. Noble International Investments, Inc. Initiates Coverage of Ocean Bio-Chem, Inc. -Research States Buy Recommendation With 12-month Target of $3.25- Fort Lauderdale, Florida,
May 22, 2002. Ocean Bio-Chem, Inc. announced today that Noble President and CEO, Peter Dornau remarked, "We are delighted to have research coverage and a "Buy" recommendation by Noble. The Company is described in the research report as under-valued by Noble analyst Erik Moquist. Copies of the Noble research report can be obtained by contacting Noble International Investments, Inc. via email at info@noblefinancialgroup.com or by calling the Noble research analyst Erik Moquist at 561-994-1191." About Ocean Bio-Chem For additional information
contact: About Noble International
Investments, Inc. 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Financial , Automotive Ocean Bio-Chem Reports Profit For First Quarter of 2002 Net Sales, Up 21% Hit All time High Fort Lauderdale, Florida, May 14, 2002. Ocean Bio-Chem, Inc. today reported record sales of $3,917,976, a 21% increase, for its First Quarter or three-month period ending March 31, 2002. Net income amounted to $ .01 per share versus a loss of ($.08) per share for the same period in 2001.
Increased sales during
the quarter ended March 31, 2002 were primarily attributed by management
to automotive products and marineTCW3 Two-Cycle motor oil. Ocean Bio-Chem
President and CEO Peter Dornau stated, "Ordinarily, the first quarter
is weak for us but the addition of new products in the automotive area
as well as the continuing success of our core products has sustained and
outpaced the revenue growth we experienced last year. We are optimistic
that the solid 21% growth in sales and operating profits for the First
Quarter will continue and look forward to reporting further progress in
our mission to achieve record revenues and earnings for 2002." For additional information
contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Ocean Bio-Chem, Inc. Reports Financial Results for Year Ending December 31, 2001 Achieves $. 03 Per Share Earnings On Record Revenues Fort Lauderdale, Florida, March 13, 2002. Ocean Bio-Chem, Inc. today reported net earnings of $.03 per share (fully-diluted) for the year ending December 31, 2001 versus a net loss of ($.06) for the previous year ending on December 31, 2000. Gross sales, ending December 31, 2001 increased approximately $1.8 million or 10% to $19,876,095 compared to $18,072,784 for the comparable period in 2000. Company management attributed the gain to a general decrease in overall operating expenses combined with increased revenues associated mainly with the Company's new automotive product line.
Ocean Bio-Chem President and CEO Peter Dornau commented, "Last year we reported a loss which we described as unavoidable and necessary. We stated that expenditures associated with the loss were helping to position us for future growth. Although we made no predictions, our goal for 2001 was to build upon the foundation we laid. We are pleased to report that for the year 2001 we have achieved the highest revenues yet in the Company's twenty-one year operating history and we are once again profitable. Both of these achievements were made possible by our efforts to improve operational efficiency and manufacturing capability. As we look to the 2002 year, we anticipate continuing growth in revenues and profitability. In the fourth quarter of last year we released information detailing potential 2002 revenues associated with our oil products line. These potential revenues, if achieved, would on their own add an additional ten-percent to 2001 sales. Although we can offer no guarantee of the future, we believe the stage is set for a banner year with record revenues and profit growth." About Ocean Bio-Chem For additional information
contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals Wednesday February 13, 2002 Ocean Bio-Chem
Retains Investment Banker To Assist In Market Growth For additional information
contact: About Noble International
Investments, Inc. 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Wednesday
November 14, 2001
Average Shares Outstanding
(fully diluted) 4,199,037 4,042,913
Average
Shares Outstanding (fully diluted) 4,199,037 4,042,913 For additional information
contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Wednesday October 17, 2001 Ocean Bio-Chem Reaches Marine Oil Supply Agreement Worth Up To $1.2 million Per Year Fort Lauderdale, Florida,
October 17, 2001. Ocean Bio-Chem, Inc. announced that it has reached an
agreement to supply marine oil under private label to a leading national
retailer of marine and general boating products. Marine oil supplied as
per the agreement is anticipated to result in an estimated increase of
$1.2 million in annual revenue to the Company and will be processed at
the Company's Kinpak manufacturing facility. About Ocean Bio-Chem For additional information
contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Thursday October 4, 2001 Ocean Bio-Chem New Orders May Exceed $2.3 million in Revenue Per Year - Plastic Bottle Manufacturing at Kinpak Running At Capacity Fort Lauderdale, Florida, October 4, 2001. Ocean Bio-Chem, Inc. today announced that it has started shipping new orders related to washer and protective fluid products ear-marked for delivery to Auto Zone and Wal-Mart representing an estimated potential increase in revenues exceeding $2.3 million per year. Initial fulfillment of the new orders has pushed the plastic blow molding line at its Kinpak manufacturing facility to capacity. Ocean Bio-Chem President and CEO Peter Dornau described the new business development, "New automotive related orders have been coming in at a very brisk pace. To meet the demand created by these orders and to keep up our usual winter season business, we have needed to purchase additional plastic bottles from outside sources. So far the additional bottles have been available and we have plenty of filling capacity thanks to the addition of our new plant equipment earlier this year. In terms of revenue and profitability, we believe the new washer and protective fluid orders will lead to increased annual revenue potentially exceeding $2.3 million. Although lower in margin, these new orders contribute significantly toward covering our manufacturing facility overhead. They furthermore help us to gain valuable market share that in turn better positions us to sell higher margined products. Overall, we are looking forward to a year of solid growth and improving profitability." About Ocean Bio-Chem For additional information
contact: 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. Keyword: Florida Industry
Keywords: Boating, Recreational Vehicles, Chemicals, Automotive Thursday August 16, 2001 Ocean Bio-Chem Reports Profit For First Six Months of 2001 - Reports 24% Increase in 2nd Quarter Net Sales Fort Lauderdale, Florida, August 15, 2001. Ocean Bio-Chem, Inc. 2nd Quarter net income for the three month period ended June 30, 2001 increased to $337,727 or $.09 per share versus $42,533 or $.01 per share for the comparable period in the previous year. For both six-month periods ended June 30, 2001 and 2001, the Company reported a net income of $.01 per share. Gross sales increased approximately 22% for the 2001 2nd quarter and approximately 10% for the six-month period ended June 30, 2001 compared to the same respective periods in 2000
Avg. Shares (fully
diluted) 4,114,037 4,011,426
Avg.
Shares (fully diluted) 4,114,037 4,011,426 Ocean Bio-Chem President
and CEO Peter Dornau stated "we are very pleased to report a profit
through the six-months ended June 30, 2001. Our Automotive fluids line
sales are beginning to flow and this results in an improved utilization
of the Kinpak manufacturing facility. As we build our Automotive sales
and customer base, we will eventually more than just absorb the overhead
associated with our newly expanded manufacturing facility. Earlier this
year, we stated our belief that our investment towards increasing capacity
and improving response capabilities with respect to customer satisfaction
would enable us to grow and compete more so than ever before. We firmly
believe that the quarter just completed supports this belief and places
us on the track for a solid year of progress and profitability." About Ocean Bio-Chem 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. Friday June 1, 2001 Ocean Bio-Chem Reports Increase In Gross Sales Ocean Bio-Chem, Inc. today reported an increase of approximately $400,000 in gross sales for the April and May months of the second quarter vs. the same period in the previous year. Orders and invoices for April and May of 2000 totaled approximately $2.5 million while April and May of 2001 totaled approximately $2.9 million. Nearly $200,000 of the increase is due to new oil product sales while the remaining balance of the increase was due to overall improvement in recurring product sales. Ocean Bio-Chem President and CEO Peter Dornau stated, "We are now shipping all forty-plus products that comprise our new automotive line. Thanks to the completion of the tank farm at our Kinpak manufacturing facility, our capacity and response capability to satisfy customer orders has expanded significantly. Lastly, to help offset higher prices for raw materials, we have made price adjustments on certain affected products effective late in the first quarter. Accordingly, we firmly believe we are on a strong track for increased sales and profitability." About Ocean Bio-Chem 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. Monday April 4, 2001 Ocean Bio-Chem Reports Results for Year Ending December 31, 2000 Ocean Bio-Chem, Inc. today reported a fully diluted net loss of $.06 per share for the year ending December 31, 2000 versus a net profit of $.11 for the previous year ending on December 31, 1999. Net sales for the year ending December 31, 2000 increased 12.7% to $16,139,256 million compared to $14,317,485 million for the comparable period in 1999. Company management stated that the loss for the year was due to a variety of factors including: increases in advertising and promotion expenses together with increased spending related to selling, general and administrative expenses resulting from the addition of new personnel and introduction of its automotive and fluids line.
Ocean Bio-Chem President
and CEO Peter Dornau stated, "In reviewing year 2000 vs. 1999 we
see a significant difference in the Company's future prospects both from
a perspective of operational efficiency and profitability growth potential.
Last year's losses were unavoidable as we made the necessary moves to
invest in our future. We believe the effect of our efforts will result
in much healthier margins and operational efficiency. Consequently, year
2001 should reflect a marked difference financially as we again move back
into the black of profitability and unprecedented growth". About Ocean Bio-Chem 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. Monday March 12, 2001 Ocean Bio-Chem
Completes New Tankage, Piping, and Equipment Improvements About Ocean Bio-Chem 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.
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