Bonal International Profits Fall Despite Higher Sales
ROYAL OAK — Royal Oak-based Bonal International Inc. (OTC: BONL) reported lower net income on higher revenue in the first fiscal quarter ended June 30.
Revenue was $570,385, up 7.7 percent from $529,685 a year earlier. Net income was $89,454 or 5 cents a share, vs. $123,960 or 7 cents a share a year earlier.
Our revenue continues to rise despite the domestic small business confidence index declining during each month of the quarter,” said Thomas E. Hebel, interim president of Bonal Technologies, Inc. “Foreign sales were 11 percent higher this quarter than they were for last year’s first quarter and accounted for 44 percent of sales by unit volume.”
Bonal’s two high-end Meta-Lax stress relief products, Model 2700 (computer controlled) and Model 2400 (computer assisted, touch-screen) dominated sales this quarter accounting for 72 percent of sales based on unit volume compared to 48 percent last year for the same models.
“The increase in sales for our high-end models demonstrates that companies have money and are willing to buy the Meta-Lax model that they really want,” Hebel said.
Bonal International Inc., through its subsidiary Bonal Technologies Inc., provides 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 54 countries worldwide.
More at www.bonal.com.