Ocean Bio-Chem, Inc. Earnings Double For 3rd Quarter 1999; Thirteen Percent Rise In Nine-month Sales Over Previous Year

Business Wire, Nov 15, 1999

FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 15, 1999--

Ocean Bio-Chem, Inc. net earnings per share for the 3rd Quarter ending September 30, 1999, doubled to $.06 per share versus $.03 per share for the same quarter of 1998. Gross revenues increased approximately 5% for the quarter ended September 30, 1999 when compared to the same quarter of the previous year. Revenues for the first nine months of 1999 increased 13% or approximately $1.38 million over the comparable nine-month period in 1998. Nine-month net earnings per share were $.11 versus $.04 per share. Management attributes the rises in revenues and earnings primarily to increased sales of two new marine products with DuPont Teflon, introduced last year and also to increased sales of antifreeze, straps and brushes. -0-

Quarter Ending September 30,          1999                 1998
Sales                              $ 4,995,382         $ 4,751,365
Net Income                             234,113             113,904
Average Shares (fully diluted)       3,794,618           3,753,017
Per Share Earnings                 $       .06         $       .03

Nine-months Ending September 30,      1999                 1998
Sales                              $12,088,582         $10,706,588
Net Income                             427,376             136,844
Average Shares (fully diluted)       3,794,618           3,753,017
Per Share Earnings                 $       .11               $ .04

Ocean Bio-Chem 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 name. The Company trades publicly under NASDAQ Symbol: OBCI.

Note: The foregoing is news relating to Ocean Bio-Chem, Inc. For more detailed information the reader is referred to the Company's 10-K filed with the Securities and Exchange Commission. This does not constitute an offer to buy or sell securities by GeoMarketing or Ocean Bio-Chem, Inc. and is meant purely for informational purposes.