Bonal International Reports Profitable Second Quarter for Fiscal Year 2019
ROYAL OAK, Mich., Nov. 15, 2018 (GLOBE NEWSWIRE) -- Bonal International, Inc., (OTC: BONL) announced revenue results of $444,407 for the second quarter which ended September 30, 2018. This was a 7.8 percent increase over the first quarter but it was down 15.8 percent from last year’s second quarter. Net income for the second quarter was $23,807, up from last quarter’s $102, but down from last year’s second quarter net income of $53,469. Earnings per share for the second quarter was $0.01, down from last year’s second quarter earnings of $0.03 per share.
“The quarter was slightly more active than the previous quarter and resulted in small increases in both revenue and profit,” said Thomas E. Hebel, chairman. “During the quarter, loyal customers and customer referrals combined to account for 53 percent of sales based on volume, up 11 percent from historical average. Among the companies that acquired more of Bonal’s patented Meta-Lax® stress relief equipment included General Motors and Northrop-Grumman.
Year-to-date revenue was $856,687, down 25.1 percent from last fiscal year’s first six-month period. Net income for the six months was a $23,909, down from last year’s $162,632 net income over the same period.
| Second Quarter Ended September 30, | ||
| 2018 | 2017 | |
| Revenue | $444,407 | $527,761 |
| Net Income | $23,807 | $53,469 |
| Earnings Per Share | $0.01 | $0.03 |
| Six Months Ended September 30, | ||
| 2018 | 2017 | |
| Revenue | $856,687 | $1,143,559 |
| Net Income | $23,909 | $162,632 |
| Earnings Per Share | $0.01 | $0.09 |
Bonal International, Inc., through its wholly owned subsidiary, Bonal Technologies, Inc. is the patent holder and world’s leading provider of sub-harmonic vibratory stress relief and weld conditioning technology. Bonal provides three lines of equipment – Meta-Lax® Stress Relief and Weld Conditioning, Pulse Puddle Arc Welding®, and Black Magic® Distortion Control, which are sold in the United States and more than 60 countries worldwide. Headquartered in Royal Oak, Mich., Bonal serves the aerospace, armament, automotive, petroleum, die-casting, mining, racing, machine tool building, plastic molding, shipbuilding, and welding industries. Bonal’s Meta-Lax® technology is used for eliminating thermal stress in metal parts, thereby preventing warping and cracking, at a fraction of the energy and monetary costs of competing technologies. More information can be found at or by calling 1-800-Meta-Lax
| Contact: | Thomas E. Hebel | |
| Toll Free: | 800.638.2529 ext.236 | |
| International: | 248.582.0900 ext.236 | |
| Email: |
