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Ocean Bio-Chem swings to loss in Q1

Ocean Bio-Chem Inc. said its normalized net income for the first quarter came to a loss of $14,600, compared with income of $219,170 in the year-earlier period.

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

The normalized profit margin dropped to 0.4% from 3.7% in the year-earlier period.

Total revenue climbed on an annual basis to $6.0 million from $5.9 million, and total operating expenses increased 7.8% on an annual basis to $6.0 million from $5.6 million.

Reported net income totaled a loss of $15,930, or a loss of 0 cents per share, compared to income of $265,890, or 3 cents per share, in the year-earlier period.