0001213900-14-005057.txt : 20140722 0001213900-14-005057.hdr.sgml : 20140722 20140722165807 ACCESSION NUMBER: 0001213900-14-005057 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140721 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140722 DATE AS OF CHANGE: 20140722 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OCEAN BIO CHEM INC CENTRAL INDEX KEY: 0000350737 STANDARD INDUSTRIAL CLASSIFICATION: SPECIALTY CLEANING, POLISHING AND SANITATION PREPARATIONS [2842] IRS NUMBER: 591564329 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-11102 FILM NUMBER: 14987088 BUSINESS ADDRESS: STREET 1: 4041 SW 47TH AVE CITY: FORT LAUDERDALE STATE: FL ZIP: 33314 BUSINESS PHONE: 9545876280 MAIL ADDRESS: STREET 1: 4041 SW 47TH AVE CITY: FT LAUDERDALE STATE: FL ZIP: 33028 FORMER COMPANY: FORMER CONFORMED NAME: STAR BRITE CORP DATE OF NAME CHANGE: 19841204 8-K 1 f8k07212014_oceanbio.htm CURRENT REPORT f8k07212014_oceanbio.htm


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 reported): July 21, 2014

OCEAN BIO-CHEM, INC.
(Exact name of registrant as specified in charter)

Florida
0-11102
59-1564329
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
I.R.S. Employer Identification No.)

4041 S.W. 47 Avenue, Fort Lauderdale, Florida 33314
(Address of principal executive offices)   (Zip Code)

(954) 587-6280
Registrant’s telephone number, including area code:


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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

 
 
Item 2.02.  Results of Operations and Financial Condition

On July 21, 2014, Ocean Bio-Chem, Inc. (the “Company”) issued a press release announcing its sales results for the second quarter and year ended June 30, 2014.  A copy of the press release is furnished as Exhibit 99.1 to this Current Report.
 
The information furnished pursuant to Item 2.02 of this Current Report, including the exhibits furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth in such future filing that such information is to be considered “filed” or incorporated by reference therein.
 
Item 9.01.   Financial Statements and Exhibits
 
(d)     Exhibits

The Company is furnishing the following exhibit to this Current Report:

Exhibit Number
 
Description
99.1
 
Press release, dated July 21, 2014


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.
 
 
OCEAN BIO-CHEM, INC.
     
Date: July 21, 2014
By:
/s/ Jeffrey S. Barocas
   
Jeffrey S. Barocas
   
Chief Financial Officer
 


 
EX-99.1 2 f8k07212014ex99i_oceanbio.htm PRESS RELEASE f8k07212014ex99i_oceanbio.htm
 
Exhibit 99.1
Ocean Bio-Chem, Inc. Reports Record Second Quarter 2014 Net Sales
 
FORT LAUDERDALE, FL., July 21, 2014 -- 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, today is pleased to announce all-time record second quarter net sales.
 
Ocean Bio-Chem, Inc. President and CEO Peter Dornau commented, “We are especially pleased that in the second quarter of 2014 we achieved a new Company record for second quarter net sales of approximately $8.8 million dollars, compared to approximately $8.2 million dollars in the second quarter of 2013, an increase of approximately 8%.  This was achieved after a slower than anticipated first quarter due to the unusually long and cold winter.  During the second quarter the Company recorded double digit sales growth in both branded and private labeled marine products.  These sales increases were partially offset by lower margin sales decreases of our winterizing products.”
 
Ocean Bio-Chem, Executive Vice President of Sales & Marketing Greg Dornau commented on the six month results “We anticipated we would make up the shortfall of net sales reported for the first quarter of 2014 compared to the first quarter of 2013.  For the six months ended June 30, 2014, the Company will report net sales of approximately $14.7 million dollars an increase of approximately 2%, compared to the comparable 2013 period, making up for a 6% first quarter net sales shortfall.  For the six month period the Company had significant growth of fuel treatment sales to the ‘Big Box’ hardware retailers.  In addition, sales of our fuel treatment products -- Star Tron -- continue to increase to the national automobile parts retailers.  During the six months ended June 30, 2014, both sales to big box hardware retailers and sales to national auto chain retailers recorded double digit sales growth.”
 
Ocean Bio-Chem Chief Financial Officer Jeff Barocas emphasized that “we expect a favorable increase in earnings as a result of our sales results.”
 
The complete Form 10-Q filing for second quarter 2014 financial statements will be available at www.sec.gov by August 14, 2014
 
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.
 
The Company's web sites are:  www.oceanbiochem.com, www.starbrite.com, www.startron.com, and www.nos-guard.com
 
 
 

 
 
Forward-looking Statements:
 
Certain statements contained in this Press Release, 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," 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.
 
Contact:
 
Peter Dornau
CEO and President
pdornau@starbrite.com
954-587-6280
 
Jeff Barocas
Vice President & CFO
Jbarocas@starbrite.com
954-587-6280
 
Paul Knopick
E & E Communications
pknopick@eandecommunications.com
940-262-3584