|By Marketwired .||
|November 29, 2012 03:15 PM EST||
FORT LAUDERDALE, FL -- (Marketwire) -- 11/29/12 -- Ocean Bio-Chem, Inc. (NASDAQ: OBCI), a leading manufacturer and distributor of appearance, performance, and maintenance products serving the marine, automotive, power sports, recreational vehicle and outdoor power equipment markets, is pleased to announce the Company is featured in the November 30, 2012 issue of "Grants Interest Rate Observer" in a story about three microcap companies that investors should consider.
Harper Stephens, director of investment management at Thompson Davis Asset Management, Richmond, Virginia, is quoted in the story: "We've owned Ocean Bio-Chem for about a year and a half now and they continue to execute fundamentally. They have a new product that is ramping and they just had an all-time record revenue quarter. In fact, over the past 12 quarters, it has broken revenue records nine times for that particular quarter of the year."
Mr. Stephens continues: "The stock trades at around half the peer group's earnings multiple, 70% below the price-to-sales multiple, 80% below the price-to-cash flow multiple and around half the price-to-book multiple of its peer group."
The article continues with a description of StarTron, an enzyme-based fuel additive that fights the corrosive effects of ethanol, as "Ocean Bio-Chem's prize elixir." It talks about the strong reviews of the product on Amazon and how the product produces repeat customers.
Ocean Bio-Chem is "doing about $9.5 million of StarTron sales annually," Mr. Stephens is quoted saying. "If they can continue to grow and take share from the competitors it could end up being a $50 million to $100 million per year product" in a $1 billion sector.
The article is available from E & E Communications. E-mail [email protected]. Grants Interest Rate Observer, published on Wall Street, focuses on economic conditions and interest rate trends and provides financial analysis and forecasts.
About Ocean Bio-Chem, Inc.:
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. 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 trades publicly under NASDAQ Capital Markets, Ticker Symbol: OBCI.
Certain statements contained in this Press Release including without limitation expectations as to future sales and operating results, constitute forward-looking statements. For this purpose, any statements contained in this report that are not statements of historical fact may be deemed forward-looking statements. Without limiting the generality of the foregoing, words such as "believe," "may," "will," "expect," "anticipate," "intend," "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 our actual results, performance or achievements to be materially different from any future results, performance or achievements 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 for changes in interest rates and in foreign exchange rates, and other factors.
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