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Record Earnings for Ocean Bio-Chem Inc. Third Quarter Ending Sept. 30, 1996.

FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 26, 1996--Ocean Bio-Chem Inc. third quarter earnings for the period ending Sept. 30, 1996, were $0.03 per share versus $(0.01) per share for the same period in the previous year.

For nine months ending Sept. 30, 1996, the company earned $0.13 versus $0.14 for the same period in the previous year. Gross sales increased 26% for the 1996 third quarter, and 52% for nine months versus the same respective period in the previous year. Expenses related mainly to the new Alabama facility regarding interest, selling and administrative expenses increased slightly.

Company President Peter Dornau stated: "Despite some anticipated increased costs, inclement weather suppressing marine sales industry wide, and taking into account our five percent stock dividend, we still posted an all-time record level of earnings for any third quarter in the company's 15-year operating history. Although generally pleased with the results of the current quarter, we believe profit margins for certain business at the Alabama facility can be improved.

"To address this, we have begun a new program to phase out lower profit margin third party antifreeze business. In addition, I am pleased to report that the company is in negotiation with several third parties regarding new antifreeze packaging opportunities for marine and non-marine Southeastern markets. Although nothing is certain yet, we hope to bring in these new more profitable business contracts over the next five to six months." -0-

Three Months ending Sept. 30, 1996 1995

Sales $2,972,020 $1,958,245
Net Income 108,782 (51,827)
Avg. Shares (fully diluted) 3,791,283 3,533,195
 Shr. Earnings $ .03 $(.01)

Six months ended Sept. 30, 1996 1995

Sales $9,274,884 $7,341,627
Net Income 476,303 511,889
Avg. Shares (fully diluted) 3,791,283 3,533,195
 Shr. Earnings $.13 $.14


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. -0-

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

CONTACT: Ocean Bio-Chem Inc.

Peter Dornau, 954/587-6280



James Nikas, 415/885-6813
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Publication:Business Wire
Date:Nov 26, 1996
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