Ocean Bio-Chem, Inc. (NASDAQ: OBCI), a leading manufacturer and distributor of appearance, performance, and maintenance products serving the marine, automotive, powersports, recreational vehicle and outdoor power equipment markets, today is pleased to announce all-time record fourth quarter and full year net sales in 2013.
The fourth quarter 2013 record sales were the fourth consecutive record net sales for the final quarter of the year. The full year 2013 net sales eclipsed the previous record sales totals accomplished in 2011.
"The strong finish to 2013 is attributable to continued growth of StarTron in several markets. The Company also recorded strong growth of sales of both its branded and private marine products in the fourth quarter of 2013. The Company benefitted from the colder weather around the country, with an increase of sales of our winterizing product group, primarily antifreeze products," commented Peter Dornau, Ocean Bio-Chem CEO.
Jeff Barocas, Ocean Bio-Chem CFO, commented: "We are especially pleased with our fourth quarter sales record of approximately $7.8 million, compared to $6.9 million in the fourth quarter of 2012, an increase of 13%. This double digit increase in sales in the fourth quarter is a strong indicator that our increased spending in marketing is having a positive impact on sales. For the full year 2013, net sales were approximately $32.7 million compared to $31.0 million in 2012, an increase of 5%. As we continue to increase sales, the percent of marketing and selling expenses should decline as a percent of sales."
The complete Form 10-K filing of Ocean Bio-Chem financial statements for year 2013 will be available at www.sec.gov no later than March 31, 2014.
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.