Ocean Bio-Chem Inc (OBCI)

[MikeDDKing]

OBCI DD cross post from last week:

Posted by: MikeDDKing Date: Wednesday, July 29, 2009 3:02:07 PM
In reply to: None Post # of 205106

I recently started purchasing OBCI. I think they have a good chance to double over the next six months. They last traded at $0.94. Here are the reasons I'm bullish on OBCI:

1. Last week they announced that Q2 sales were up 15% to $5,715,000. I expect that this will translate into EPS of $0.05 or more. http://finance.yahoo.com/news/Ocean-BioChem-Inc-Reports-iw-1411830400.html?x=0&.v=1

2. They recently announced a new $2M contract which will ship in the 3rd and 4th quarters of this year. I expect that in Q3 they will report EPS north of $0.10.

3. They posted Q1 EPS of $0.02 in their seasonally weak quarter. That was a big improvement over last year. Revenue also increased b7 9% in Q1 which is incredible considering the state of the economy at that time.

4. They have a low float of only 2.84M shares.

5. They are trading at less than their book value which is $1.08/share.