Bonal Reports Improved Revenue For Fiscal Year And Fourth Quarter
ROYAL OAK — Bonal International, Inc. (OTC: BONL) announced 2013 fiscal year revenue of $2.5 million, up from $2.3 million a year earlier.
It was the ninth consecutive profitable year for Bonal, which posted net income of $220,182 or 13 cents a share, although net income was down from $329,352 or 19 cents a share a year earlier.
“New customers accounted for 64 percent of sales, by unit volume, and current customers continued to come back and purchase additional equipment,” said A. George Hebel, chairman of Bonal International.
In the fourth quarter, revenue was $681,084, up from $643,839 a year earlier. The company posted a loss of $91,803 or 5 cents a share in the quarter, vs. net income of $56,155 or 3 cents a share in the same quarter a year earlier.
“Considering all the challenges and distractions during the year, fiscal year 2013 was a good year in terms of revenue growth and we still had over a 9 percent profit,” said Hebel. “Outstanding customer loyalty, products and cutting edge technology, and our committed team effort have kept the company growing.”
Bonal International, through its wholly owned 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, ship building, 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 like heat treating.
More information can be found at www.bonal.com or by calling 1-800-Metal-29.