Bonal International Reports Profitable Second Quarter for Fiscal Year 2020
ROYAL OAK, Mich., Nov. 18, 2019 (GLOBE NEWSWIRE) — Bonal International, Inc., (OTC: BONL) announced revenue results of $388,081 for the second quarter which ended September 30, 2019. This was a 4.9 percent decrease over the first quarter and down 12.7 percent from last year’s second quarter. Net income for the second quarter was $20,545, up from last quarter’s $2,942, but down from last year’s second quarter’s net income of $23,807. Earnings per share for the second quarter were $0.01 per share which was the same as last year’s second quarter earnings.“The quarter was led by sales to foreign companies,” said Thomas E. Hebel, chairman. “During the quarter, foreign customers accounted for 46 percent of sales based on volume, up 21 percent from historical average of 25 percent. Among the foreign companies that acquired Bonal’s patented Meta-Lax® stress relief equipment included Dutch-Shape Aerospace in The Netherlands and Vaal Heat Treatment, a heat treating company in South Africa.”
Year-to-date revenue was $796,161, down 7.1 percent from last fiscal year’s first six-month period. Net income for the six months was a $23,487, down slightly from last year’s $23,909 net income over the same period.
Bonal International, Inc., through its wholly owned subsidiary, Bonal Technologies, Inc., is the patent holder and world’s only provider of sub-harmonic (Meta-Lax®) vibratory stress relief and weld conditioning technology. Bonal offers 15 different models of Meta-Lax equipment which are sold in the United States and more than 64 countries worldwide. Headquartered in Royal Oak, Michigan, Bonal serves the aerospace, automotive, defense, die casting, machine tool building, mining, mold making, power, racing, ship building, and welding industries. Bonal’s Meta-Lax technology is used to eliminate thermal stress in metal parts, thereby preventing distortion and cracking. The Meta-Lax technology is applied at a fraction of the time, cost and energy consumption of competing technologies. More information can be found at www.Bonal.com or by calling 1-800-META-LAX.