OBCI - Ocean Bio-Chem, Inc. Reports Record 1st Quarter 2010 Net Sales Increase of 27% From Comparative 2009 1st Quarter
Press Release Source: Ocean Bio-Chem, Inc. On Wednesday April 21, 2010, 7:30 am
FORT LAUDERDALE, FL--(Marketwire - 04/21/10) - Ocean Bio-Chem, Inc. (NASDAQ:OBCI - News) reported today record net sales for the first quarter 2010. Net sales were approximately $5,200,000 compared to $4,110,000 for the comparative 2009 quarter, an increase of $1,090,000 or 26.5%.
Ocean Bio-Chem President and CEO Peter Dornau commented, "The record sales performance in the first quarter of 2010 is compared to a strong first quarter 2009 sales. The first quarter sales achievement is a continuing indicator that the Company's marketing strategies are successful. We believe that the increase in sales reflects the success in marketing our proprietary products in new markets and customers, in addition to the improving economy with increased boat usage."
Peter Dornau continued, "I am very pleased with our first quarter sales results in a difficult economy. We are optimistic that the first quarter earnings, in a traditionally soft quarter (often a loss) will be profitable."
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 Ticker Symbol: OBCI. The Company's web sites are: www.oceanbiochem.com, www.starbrite.com and www.startron.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.
AI
