Ocean Bio-Chem, Inc. Announces First Quarter 2022 Financial Results
Ocean Bio-Chem, Inc. (OBCI)
US:NASDAQ Investor Relations:
oceanbiochem.com/contact-us/shareholder-information.html
Company Research
Source: PR Newswire
Star brite Inc. Parent Company Reports First Quarter Net Sales of $12.7 Million and Net Income of $1.3 MillionFORT LAUDERDALE, Fla., May 16, 2022 /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 its first-quarter 2022 financial results.2022 -First Quarter Highlights:First quarter net sales of $12.7 millionFirst quarter net income of $1.3 million,First quarter net income as a percent of sales – 10.2%Cash on hand $10.2 million at March 31st, 2022, with a ratio of 7.4:1 of current assets to current liabilities.Earnings per share in the first quarter of 2022 of $0.14.Financial Summary (In thousands except per share data)Quarter EndedMarch 31,20222021Net sales$ 12,737$ 13,131Pre-tax income$ 1,633$ 2,428Net income $ 1,299$ 1,904Earnings – per common share
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