Ocean Bio-Chem Inc. announced earnings results for the third quarter and nine months ended September 30, 2009. Net income for the third quarter 2009 was approximately $572,000, compared to $601,000 for the comparative 2008 quarter, a decrease of $29,000 or 5%. The Company also reported record net sales for the third quarter 2009 of approximately $8,906,000 compared to $8,221,000 for the comparative 2008 quarter, an increase of $685,000 or 8.3%. Earnings per share both basic and diluted were $0.07 per share for 2009 compared to $ 0.08 basic earnings per share and $0.07 diluted earnings per share for 2008. Income before taxes was $903,000 compared to $968,000 for the same period a year ago. The third quarter net profits were impacted by unusual legal expenses for $200,000, to sue Valvtect, a competitor, for false and misleading advertising. For the nine months, the Company reported record net income of approximately $831,000, compared to $377,000, for the comparative period of 2008, a increase of $454,000 or 120%. The Company also reported record net sales for the nine months ended September 30, 2009, of approximately $18,731,000 compared to $16,957,000 for the comparative 2008 period an increase of $1,774,000 or 10.5%. Earnings per share both basic and diluted were $0.11 per share for 2009 compared to $ 0.05 earnings per share both basic and diluted for 2008. Income before taxes was $1,458,000 compared to $648,000 for the same period a year ago.

Ocean Bio-Chem Inc has received a notice from the NASDAQ stock market (NASDAQ), that for 30 consecutive business days the bid price of the Company's common stock had closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 4310(c)(4) (the "Rule") and, as such, the Company's common stock has become non-compliant with NASDAQ's requirements. In accordance with Marketplace Rule 4310(c)(8)(D), the Company will be provided 180 calendar days, or until March 29, 2010, to regain compliance. If, at anytime before March 29, 2010, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NASDAQ will provide written notification that it complies with the Rule. In the event the Company does not regain compliance with the Rule prior to the expiration of the grace period, it will receive written notification that its securities are subject to delisting. Alternatively, the Company may be eligible for an additional grace period if it meets the initial listing standards, with the exception of bid price, for The NASDAQ Capital Market. If it meets the initial listing criteria, NASDAQ's Staff will notify the Company that it has been granted an additional 180 calendar day compliance period.

Ocean Bio-Chem Inc. reported earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported pretax profits of approximately $338,000 compared to a pretax loss of approximately $8,000 for the comparative quarter 2008, an increase in pretax profits of $346,000. The company's earnings per share before taxes (both basic and diluted) for the second quarter were $0.04 compared to no earnings per share before taxes for the comparative quarter 2008. Net income, after tax was approximately $133,000 compared to a net loss of approximately $18,000 for the comparative 2008 quarter, an increase of $151,000. Net earnings per share, both basic and diluted, for the second quarter 2009 were $0.02 compared to no earnings per share in the second quarter of 2008. Net sales were approximately $5,715,000 compared to approximately $4,991,000 for the comparative 2008 period, an increase of 14.5% or $724,000. For the six month period ended June 30, 2009, the company reported pretax profits of approximately $555,000 compared to a pretax loss of approximately $320,000 for the comparative 2008 period, an increase of $875,000. Earnings per share before taxes (both basic and diluted) were $0.07 compared to a loss of $0.04 per share for the comparative prior years six month period. Net income, after tax was approximately $259,000 compared to an operating loss of approximately $224,000 for the comparative 2008 six month period, an increase of $483,000. Earnings per share, both basic and diluted, for the six month period were $0.03 compared to a loss per share of $0.03 for the comparative 2008 six month period. Net sales were $9,825,000 compared to $8,736,000 for the comparative 2008 six month period, an increase of 12.5% or $1,089,000. Due to the high taxable income and resulting high tax provision, the earnings per share after taxes do not demonstrate the operating and financial strength and success of the company. As the company enters the second half of 2009, it is cautiously optimistic that it could report record pretax profits for the full year.