Quarterly Results From Brownie’s Marine Group (BWMG) Show Consistent Improvements

POMPANO BEACH, Fla. - Nov. 21, 2014 - PRLog -- Brownie’s Marine Group, Inc. , a leading designer, developer, manufacturer and distributor of surface supplied air diving systems, fully marinized dive compressor systems and highly specialized dive and safety products, filed their quarterly report last week showing significant improvements for the first 9 months of 2014 compared to same period of 2013 and the 4 previous years.

Highlights of First 9 months of 2014 compared to first 9 months of 2013

- Revenue increased by $186,310 from $2,072,670 in 2013 to $2,258,980 in 2014 or 8.9%
- Gross profit increased from $568,502 in 2013, up 21.2% to $689,359 in 2014
- Operating expenses decreased dramatically from $1,356,342 in 2013 to $485,137 in 2014 – an improvement of $871,205 translating to a decrease of 64.2%
- Overall the period resulted in a net income of $178,714 in 2014 compared to a net loss of $876,909 - a $1,055,623 improvement

The complete quarterly report on Form 10-Q is available at http://www.sec.gov.

The improvements to the quarterly results of Brownie’s Marine Group stem predominantly from the continued focus on capitalizing on the significant technology and branding investments made over the past decade combined with the alleviation of significant debt and overhead re-configuration.

About Brownie’s Marine Group, Inc.

Brownie’s Marine Group, Inc. and its wholly owned subsidiary, Trebor Industries, Inc., d/b/a Brownie’s Third Lung, based in Pompano, Florida designs, tests, manufactures and distributes recreational hookah diving, yacht based scuba air compressor and Nitrox Generation Systems, and scuba and water safety products. The Company sells its products both on a wholesale and retail basis and is comprised of three highly specialized dive product groups. The Company is an industry leading manufacturing and distribution company that serves middle income boat owners, higher income yacht owners, recreational divers, military operators and public safety personnel. The Company holds more than ten patents and enjoys a robust product development and intellectual property program that has yielded several proprietary products. Many of these products and innovations have become the “standard” for the marine industry. The Company is known for its meticulous devotion to detail, high quality production and design ingenuity. In the boating and diving community, Brownie’s is known as the market leader when it comes to surface supplied “Third Lung” dive systems and Scuba Tankfill Systems for yacht-based diving. Brownie’s products and support service divers at all levels of the underwater world, from shallow-water dive systems to deep-water mixed gas support systems for exploration divers and submariners.

In 2011, Brownie’s introduced the first in a series of patent-pending Variable Speed Battery Powered Third Lung (hookah diving) devices engineered to conserve energy while delivering performance to the diver.

FORWARD-LOOKING STATEMENTS

Information included or incorporated by reference in this news release may contain forward-looking statements. This information may involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend” or “project” or the negative of these words or other variations on these words or comparable terminology. This news release contains forward-looking statements.  Actual events or results may differ materially from those discussed in forward-looking statements as a result of various factors, including, without limitation, the risks outlined under “Risk Factors” described in our Form 10-K filing. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained in this news release will in fact occur.