Ocean Bio-Chem, Inc. announced today record net sales for both the fourth quarter and the full year 2021, continuing a 9-year trend of record-breaking sales.
For the full year 2021, net sales were approximately $64.3 million, compared to approximately $55.6 million for the full year 2020, an increase of approximately 16% or $8.8 million.
For the fourth quarter of 2021, net sales were approximately $14 million, compared to approximately $12.9 million for the fourth quarter of 2020, an increase of approximately 9% or $1.1 million.
Ocean Bio-Chem Chairman, President, and Chief Executive Officer, Peter Dornau, commented, “We are exceptionally pleased with the record annual sales of approximately $64.3 million. This is the ninth consecutive year of record net sales. Over this nine-year period, our sales have more than doubled, with more than 75% increase in just the last five years.”
“With most of our products manufactured in our own plant in Montgomery, Alabama, our supply chain was not as interrupted as other companies that may be more dependent on imported goods. As a result, the Company was able to achieve an On Time In Full (OTIF) rate of approximately 98%, keeping customers’ inventories at high levels resulting in increased product sell-through to consumers.”
Mr. Dornau continued, “This is the sixth consecutive year in a row that the Company had record fourth-quarter net sales. The fourth quarter 2021 sales growth was primarily in its marine and RV winterizing and antifreeze products.”
Peter Dornau concluded, “The recreational boating industry is continuing a strong and robust trend: there is still a significant order backlog for new recreational boats by consumers. Also, the RV industry has seen record sales this past year. The company has benefitted from a renewed interest in the outdoors, as families are more focused on out-of-the-house, recreational leisure activities. The leisure boating and RV sectors of the economy bode well for our company as new and existing owners maintain and care for their investments. We see these strong trends continuing into 2022.”
About Ocean Bio-Chem, Inc.
Ocean Bio-Chem, Inc. manufactures, markets, and distributes a broad line of appearance and maintenance products for the marine, automotive, power sports, recreational vehicle, and outdoor power equipment markets under the brand names Star brite, Star Tron, Performacide, and OdorStar within the United States 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’s websites are www.oceanbiochem.com, www.starbrite.com, www.startron.com, and www.performacide.com.