FORT LAUDERDALE, Fla.,
July 27, 2021 /PRNewswire/
-- Ocean Bio-Chem, Inc. (NASDAQ: OBCI), the parent
company of Star brite, Inc. and Kinpak, Inc.—vertical manufacturer
and distributor of performance, appearance, maintenance, and
disinfectant chemicals for the marine, RV, and outdoor
industries—is pleased to announce sales for the second quarter and
the first six months of 2021.
For the first six months of 2021, record net sales were
approximately $28.8 million, compared
to approximately $23.5 million for
the first six months of 2020, an increase of approximately 23% or
$5.3 million.
The Q2 sales of approximately $15.7
million matched the same quarter in 2020.
President and CEO, Peter Dornau,
commented "Our net sales for both the second quarter and six months
ending June 30, 2021, were
exceptionally strong in our marine, RV, and home care product
groups, achieving double-digit growth as compared to the same
period in 2020, especially among major marine product retailers and
wholesalers. We also continued to see strong double-digit sales
growth of our home care line for both the second quarter and first
six months of 2021 to our hardware customers."
Mr. Dornau continued, "As experienced in the first quarter of
2021 sales of our chlorine dioxide products (both branded
PERFORMACIDE® as well as private label sales) have
slowed down compared to the same period in 2020 when COVID-19 was
on the rise. Our chlorine dioxide product was essential during the
height of the pandemic for surface disinfection in markets ranging
from healthcare to home.
On the positive side, as more and more states legalize cannabis,
our primary distributor of private-labeled chlorine dioxide
products has seen a double-digit growth of sales in this market
segment. The primary use is for maintaining optimal air and surface
quality, minimizing the potential of mold and mildew, and
maximizing crop yields, product quality, and profits for cannabis
growers.
With an upcoming rebrand and marketing campaign, we are
cautiously optimistic that we will see increased sales of our
chlorine dioxide products in the later part of 2021 and the
future."
Mr. Dornau concluded, "We are quite pleased with the sales
results for both the second quarter and six months of 2021. With
the boating and RV markets booming, our other core product
groups—marine, RV, and homecare—all had strong double-digit sales
growth that enabled the Company to achieve these record sales in
the six months ending June 30, 2021.
As the U.S. begins to return to a new normal, we foresee this
strong outdoor recreation home care sales trends continuing."
About Ocean Bio-Chem, Inc.
Ocean Bio-Chem, Inc. manufactures, markets, and distributes a
broad line of appearance and maintenance products for the marine,
automotive, power sports, recreational vehicle, and outdoor power
equipment markets under the brand names Star brite®,
Star Tron®,
Performacide® and OdorStar® within
the United States 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.
The Company's web sites are: www.oceanbiochem.com,
www.starbrite.com, www.startron.com and www.performacide.com
Forward-looking Statements:
Certain statements contained in this Press Release, including
without limitation, we are cautiously optimistic that we will see
increased sales of our chlorine dioxide products in the later part
of 2021 and the future and as the U.S. begins to return to a new
normal, we foresee this strong outdoor recreation home care sales
trends continuing. For this purpose, any statements contained
in this report that are not statements of historical fact may be
deemed to be forward-looking statements. Without limiting the
generality of the foregoing, words such as "believe," "may,"
"will," "expect," "anticipate," "intend," or "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 actual results to be materially different from
those 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 relating to changes
in interest rates, foreign exchange rates, prices for raw materials
that are petroleum or chemical based and other factors addressed in
Part I, Item 1A ("Risk Factors") in our annual report on Form 10-K
for the year ended December 31,
2020.
Contact:
Peter Dornau
CEO & President
pdornau@starbrite.com
954-587-6280
Jeff Barocas
Vice President & CFO
Jbarocas@starbrite.com
954-587-6280
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SOURCE Ocean Bio-Chem, Inc.