Ocean Bio-Chem, parent company of Star brite and other brands, said it has set a record for net sales in the first three quarters of the fiscal year.
Year-to-date, sales were $50.3 million, an 18 percent increase over the same period last year.
For the third quarter alone net sales were $21.5 million, which was a 12 percent increase over the same quarter a year ago.
“2021 has been as great year for sales and profits if we discount our reduced sales of Performacide – our EPA-registered disinfectant for COVID-19 – as compared to 2020. Last year’s spike in disinfectant demand has leveled out, but sales of the line are still higher than pre-pandemic figures,” said President and CEO, Peter Dornau.
“With supply chain issues such as material shortages, increased freight, inflated prices of raw materials, and even some major raw chemical suppliers declaring Force Majeure, we still increased sales on most of our product lines other than Performacide, and fulfilled at a 96 percent success rate – which we think is well above current industry standards.”
Dornau continued, “With these high fulfillment rates, many of our major customers—including brick & mortar, online, and our distribution partners—have rewarded us with record sales increases of 18 percent over our record-breaking 2020 year-to-date sales. As a made-in-the-U.S.A. full-vertical manufacturer, our branded Star brite products, as well as our many private-label partners’ products, were stocked and put on shelves when others could not deliver. We foresee these significant increases in product sales to continue into 2022. To meet these increased demands, we are in the process of adding another expansion of $11,000,000 in plant and equipment to be completed by end of Q1 2022. We have also increased prices to make up for price increases of raw materials. These increases will be realized in sales in 2022.”
