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Ocean Bio-Chem Q1 profit climbs YOY

Ocean Bio-Chem Inc. said its normalized net income for the first quarter came to $162,080, a rise from $22,270 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 2.4% from 0.4% in the year-earlier period.

Total revenue climbed 12.5% year over year to $6.8 million from $6.0 million, and total operating expenses climbed 9.1% on an annual basis to $6.5 million from $5.9 million.

Reported net income totaled a loss of $540,800, or a loss of 6 cents per share, compared to a loss of $15,930, or a loss of 0 cents per share, in the year-earlier period.