Bonal International Continues Profit Despite Slow Third Quarter
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ROYAL OAK — Bonal International Inc. (OTC: BONL) Wednesday announced a slow but profitable third fiscal quarter ended Dec. 31.
This represents the seventh consecutive profitable quarter for Bonal.
Revenue decreased from last year’s record $619,500 to $405,533. Net income dropped to $8,043 or less than a penny a share from last year’s $109,855 or 6 cents a share.
For the nine months, revenue was $1.65 million, down 3 percent from $1.69 million a year earlier. Net income was $273,197 or 16 cents a share, down from $344.673 or 20 cents a share a year earlier.
“As Bonal continues to expand and explore applications in new markets we are laying groundwork that should propel us toward future growth,” said Thomas E. Hebel, interim president and CEO of Bonal. “Meanwhile we are comparing a good nine months to one of our strongest periods in our history. This quarter also displayed the potential of the Bonal’s on-site service program.”
Thirty-six percent of the sales by volume came from Bonal’s top of the line computer controlled system. Another 11 percent of the revenue were from Bonal’s on-site service, double its average.
“Most importantly, 55 percent of our sales came from, or by reference through, our current customers,” said Hebel. “They appreciate what Meta-Lax does for them and they want more of it. As long as they continue to value our revolutionary technology Bonal will continue to remain strong.”
During the quarter Bonal paid an 8-cent-per-share dividend, second highest dividend paid by the company.
Bonal International Inc., through its subsidiary, Bonal Technologies Inc., is the 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 54 countries worldwide.
Headquartered in Royal Oak, Bonal serves the aerospace, armament, automotive, petroleum, die casting, mining, racing, machine tool building, mold making, 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 time, energy, and monetary costs of competing technologies.
More information can be found at www.bonal.com or by calling 1-800-Metal-29.