Ocean Bio-Chem reported a record fourth quarter and full year net sales for the company in 2014, according to a news release.
Sales for the fourth quarter of 2014 were approximately $8.7 million compared to $7.8 million in the fourth quarter of 2013, an increase of 12 percent. For the full year 2014, net sales were approximately $33.9 million compared to $32.7 million in 2013, an increase of approximately 4 percent.
“The fourth quarter of 2014 was especially impressive, with the strong growth of our sales, attributable to increases by a broad range of customers,” President & CEO Peter Dornau said. “Our customer sales concentration in 2014 was less dependent on any one key customer than in previous years.
“We achieved increased sales growth in the marine, automotive, power sports, motorcycle and outdoor power equipment sectors. The increase in sales was led by double digit growth of sales of our fuel additive product line, StarTron, as well as double digit sales growth in our other product groups in the fourth quarter of 2014.”.
The company’s annual report Form 10-K filing of Ocean Bio-Chem financial statements for year 2014 will be available at www.sec.gov no later than March 31, according to the release.