Ocean Bio-Chem reports record sales

Ocean Bio-Chem which recently announced an increase in production of its disinfectant products in response to the coronavirus pandemic, reported full year and fourth-quarter earnings, seeing its highest levels of net income and net sales. The company’s private brand business saw growth, too.

The company, based in Fort Lauderdale, Fla., recorded a 25% increase in net income from 2018 to 2019, resulting in $3.5 million versus $2.8 million. Net sales were up to $42.3 million, from $41.8 million in 2018. Fourth-quarter sales increased by 10%.

The acquisition in 2018 of teak care products Snappy Marine contributed to the higher margin in sales. Peter Dornau, president and CEO Ocean Bio-Chem, said, “The company also continued sales growth to customers in most market segments it participates in. This includes increased sales to mass merchandisers, online retailers, big-box hardware and marine distributors, and a distributor of private labeled chlorine dioxide products.”

Dornau concluded the earning report saying there have been increased orders for its private brand chlorine dioxide products and its branded Performacide product. The disinfectant and sanitizers help fight the spread of the coronavirus, and the company is hiring more personnel.