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Our research resources have been aimed towards the US Large Caps and the various prospective companies therein Ocean Bio-Chem Inc. was among those that we have been closely examining due to their recent news and trading patterns. Sign up at www.streetinvesting.com for more information on the company mentioned herein.
This Wednesday, 12th November, 2008, Ocean Bio-Chem Inc. reported record income before taxes of approximately $968,000 for the third quarter 2008, an increase of $303,000 or 46% compared to the third quarter 2007. Net income for the third quarter 2008 was approximately $601,000, compared to $665,000 for the comparative 2007 quarter, a decrease of $64,000, due to a current year tax provision. The Company also reported record net sales for the third quarter 2008 of approximately $8,221,000 compared to $6,951,000 for the comparative 2007 quarter, an increase of 18.3%.
For the nine-month period ended September 30, 2008, the Company reported income before taxes of approximately $648,000, compared to $896,000, for the comparative period of 2007, a decrease of $248,000. For the nine-month period ended September 30, 2008, the Company reported net income of approximately $377,000 compared to $896,000 for the comparative 2007 period. The Company also reported record net sales for the nine months ended September 30 2008 of approximately $16,957,000 compared to $16,407,000 for the comparative 2007 period an increase of $550,000 or 3.3%.
Streetinvesting.com will continue to follow the progress of this company following their most recent news announcement. Visit www.streetinvesting.com and signup free for our financial market services.
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All material herein was prepared by Streetinvesting.com, (Street Investing) based upon information believed to be reliable. The information contained herein is not guaranteed by Streetinvesting.com to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Streetinvesting.com is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. Streetinvesting.com may receive compensation in cash or shares from independent third parties or from the companies mentioned.
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