UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reportedly): April 16, 2007
OCEAN BIO-CHEM, INC.
(Exact name of registrant as specified in charter)
Florida 0-11102 59-1564329
(State or Other (Commission File Number) (I.R.S. Employer
Jurisdiction of Incorporation) Identification No.)
4041 S.W. 47 Avenue, Fort Lauderdale, Florida 33314
(Address of principal executive office Zip Code)
(954) 587-6280
Registrant's telephone number, including area code:
Not Applicable
(Former name or former address, if changes since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 - Other Events
On April 12, 2007 the Company. issued a press release announcing sales for
the quarter ended March 31, 2007 and providing additional information. A copy
of the press release is furnished herewith as Exhibit 99.1 and is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits
(c ) Exhibits-
99.1 Press Release dated April 12, 2007
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
April 16, 2007
Ocean Bio-Chem, Inc.
/s/ Peter G. Dornau
Peter G. Dornau
Chairman of the Board and
Chief Executive Officer
Exhibit
Ocean Bio-Chem, Inc.
4041 SW 47th
Fort Lauderdale, FL 33314 NEWS RELEASE
(954) 587-6280 NASDAQ Symbol: OBCI
For Immediate Release
OCEAN BIO-CHEM, INC. REPORTS 1ST QUARTER 2007 SALES RESULTS
Fort Lauderdale, Florida April 12, 2007. Ocean Bio-Chem, Inc. (OBCI)
reported today that gross sales for the 1st quarter 2007 were approximately
$4,420,000, compared to $4,789,000 for the 1st quarter of 2006, a decrease of $
369,000 or 7.7%. To date, the Company has followed the policy to not release
sales or operational results until they have been either audited or reviewed by
our Independent Auditors. With this release we are modifying such policy to give
guidance on these matters on quarterly basis, when the data is available and
material.
Ocean Bio-Chem President and CEO Peter Dornau commented, "Sales for the 1st
quarter were adversely affected by the bad weather in the north and north-east
regions of the United States. The bad weather contributed to a delay of the
start of the boating season and the use of our products. This resulted in gross
sales decreasing to our largest marine customer by approximately 23% or
$421,000. This decrease was partially offset by an increase in gross sales to a
mass merchandiser by 93% or $152,000. All other customers combined accounted for
a sales decrease of $100,000."
Peter Dornau continued "As we look forward, I am optimistic for the 2nd
quarter and beyond. We anticipate a stronger 2nd quarter compared to our 1st
quarter, 2007 as the weather improves around the country for boating. In
addition, during the 1st quarter, we initiated a TV consumer advertising
campaign on Ship Shape TV, targeting boating enthusiasts, explaining the
benefits of StarTron, and the retail outlets where it can be purchased. We also
set up a Web site exclusively for StarTron products. You can visit the Web site
at www.startron.com. We are hopeful that as the boating season progresses, the
advertising will translate into increased sales of StarTron. We are scheduled to
release our 1st quarter earning report in the next few weeks, where I will
comment further on our financial performance for the quarter." 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 SmallCap Ticker Symbol: OBCI. The Company's
web sites are: www.oceanbiochem.com.,www.starbrite.com and www.startron.com.
For additional information contact:
Peter Dornau 954 587-6280 or: Jeff Barocas 954 587-6280
President and CEO, Ocean Bio-Chem, Inc. Chief Financial Officer,
Ocean Bio-Chem, Inc.
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. This does not
constitute an offer to buy or sell securities by GeoMarketing, the Company or
its subsidiaries and is meant purely for informational purposes.
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. This does not
constitute an offer to buy or sell securities by the Company or its subsidiaries
and is meant purely for informational purposes.