Bonal Net Income Plunges
ROYAL OAK (WWJ) – Royal Oak-based Bonal International Inc. (OTC: BONL) last week announced net income of $111,148 or 7 cents a share for the second fiscal quarter ended Sept. 30, down from $201,196 or 12 cents a share in the same quarter of a year earlier.
Revenue for the quarrer was $581,325, down from $747,048 a year earlier.
“The looming government shutdown and the debt ceiling controversy took a toll on September sales and revenue,” said A. George Hebel, chairman of Bonal International. “In the second quarter efforts were in line for high return but were affected by companies that backed off a bit due to the government uncertainty.”
Six month revenue was $1.1 million, down 6 percent from $1.2 million in last fiscal year’s first six months. Six month net income was $168,692 or 10 cents a share, down 29 percent from last year’s $237,152 or 14 cents a share.
Continuing the first quarter trend new customer sales accounted for 62 percent of sales by unit volume.
The Bonal International, Inc. 2013 Annual Report can be found at http://www.bonal.com/invest/invest.html
Bonal International, 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.
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, preventing warping and cracking at a fraction of the time, energy, and monetary costs of competing technologies.
More information can be found at http://www.bonal.com or by calling (800) metal-29.