November 23, 2021 at 09:15 EST | Source: Brownie's Marine Group, Inc. Brownie's Marine Group, Inc.

Pompano Beach, Florida, November 23, 2021 (Global News Agency) - Brownie's Marine Group, Inc. (OTC: BWMG) is a leading tankless diving equipment and marine high-pressure air and industrial The compressor developer, manufacturer, and distributor industry today announced its third fiscal quarter and nine-month financial results as of September 30, 2021.

Chris Constable, CEO of Brownie's Marine Group, Inc. said: “As everyone is experiencing global supply chain issues, the company continues to maintain its sales growth momentum, albeit at a slower rate than the previous six months. We continue to invest in human capital to Make sure that the growth we are experiencing does not diminish our customer service and that we can take advantage of every profit opportunity."

Select financial indicators: the nine months ending September 30, 2021, compare 

Chris Constable, CEO of Brownie's Marine Group, added: “Although overall sales growth figures are not as high as earlier this year, this is purely due to global supply chain constraints that we obviously cannot control. Demand for our products continues to grow, and we believe As these global logistics issues are resolved, this will be reflected in the next few quarters."

Robert M. Carmichael, President and Chairman of the Board of Directors, added: "We are also very pleased to formally complete the acquisition of Submersible Systems and begin to work with their team to help them develop their business. This is the first time we have undertaken in a long period of time. A major acquisition is also the first step in our integrated M&A strategy. The purpose is to find a unique company in our industry. We can help expand the scale and adapt to the larger company we are building. We will continue to actively promote this Strategy and look forward to announcing more information about these efforts in the next few quarters."

This press release includes certain financial indicators that exclude the impact of certain items, and therefore are not calculated in accordance with US Generally Accepted Accounting Principles ("GAAP"). We report adjusted net income (loss) to measure our overall performance because we believe that by excluding the impact of non-cash equity compensation, it better reflects our net performance. We believe that the presentation of adjusted net income (loss) enhances our investors' overall understanding of the financial performance of our business.

We believe that investors should have access to the same set of tools that we use when analyzing results. In addition to the results prepared under GAAP, this non-GAAP measurement should also be considered, but it should not be considered as a substitute for or superior to GAAP results.

The following is an unaudited reconciliation of adjusted net income (loss) and net income (loss) for the periods listed:

About Brownie Marine Group

Brownie's Marine Group, Inc. is the parent company of a series of innovative brands, focusing on the industrial and recreational diving industries. Together with its subsidiaries, the company designs, tests, manufactures and distributes recreational waterpipe diving, yacht-based scuba air compressors and nitrogen-oxygen mixture generation systems, as well as scuba and water safety products in the United States and internationally. The company has three subsidiaries: Trebor Industries, Inc., established in 1981, dba is "Brownie's third lung"; BLU3, Inc.; and Brownie's High-Pressure Services, Inc., dba LW Americas. The company is headquartered in Pompano Beach, Florida.

For more information, please visit: www.BrowniesMarineGroup.com.

This press release may contain forward-looking statements based on current expectations, forecasts and assumptions. These statements involve risks and uncertainties, which may cause actual results and results to be materially different from expected or expected results. Due to a variety of factors, actual results and the timing of certain events may differ materially from the results predicted or expected in the forward-looking statements. Shareholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions, and expectations reflected or suggested in the forward-looking statements in this report are reasonable, we cannot assure shareholders and potential investors that these plans, intentions, or expectations will be realized. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict, and may cause actual results to differ materially from those of forward-looking statements or forecasts -It looks like a statement. Except as required by law, we assume no obligation to update or revise any forward-looking statements, whether due to new information, future events, changes in events, conditions, circumstances or assumptions on which such statements are based, or other reasons. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statement under the heading "Risk Factors" and the Exchange Commission (" SEC”) on March 31, 2021, and other regular and quarterly documents we file with the SEC.

Source: Brownie's Marine Group, Inc. Contact: (954)-462-5570 Investors@browniesmarinegroup.com

Investor Relations: Hayden IR Contact: Brett Maas (646) 536-7331 brett@haydenir.com