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ROYAL OAK, MI, July 18, 2019 (GLOBE NEWSWIRE) -- Bonal International, Inc. (OTC: BONL) announced that fiscal year 2019 was its fifteenth consecutive profitable year. Revenue was $1,602,768, down 30.0 percent, from last year’s revenue of $2,292,208. Net income was $51,990, down from $284,753 last year. Earnings per share were $0.03 per share, down from last year’s $0.16 per share. Stockholders’ equity was up 3.3 percent to $1,616,134, from $1,564,144 last year.
“Fiscal year 2019 ended profitably for the 15th consecutive year for Bonal International,” said Thomas E. Hebel, Chairman. “Bonal was able to achieve $51,990 profit. Our loyal customer base once again accounted for nearly half of our revenue at 48 percent. During the year, Bonal was able to release our all-new computerized system, the Model 2800. The Model 2800, which is the most advanced metal stress relief equipment on the market, was released toward the end of the third quarter. Despite its late release relative to the fiscal year, the Model 2800 by itself had a significant impact, accounting for 13 percent of revenue. During the fiscal year, several major customers increased their usage of our Meta-Lax process. Companies that expanded their use of Meta-Lax included General Motors, Northrop-Grumman, and Lockheed-Martin.”
|Fiscal Year Ending March 31|
|Earnings Per Share||$0.03||$0.16|
Bonal International Reports Fourth Quarter
Revenue for the fourth quarter was $404,736, down 28.6 percent from last year’s $567,046. The Company posted net income of $32,960, down from $53,654 net income for the same quarter last year.
|Fourth Quarter Ending March 31|
|Earnings Per Share||$0.02||$0.03|
Bonal International, Inc. through its wholly owned subsidiary, Bonal Technologies, Inc. is the patent holder and 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 in more than 64 countries worldwide. Headquartered in Royal Oak, Mich., Bonal serves the aerospace, armament, automotive, petroleum, die-casting, mining, racing, machine tool building, plastic molding, shipbuilding, and welding industries. Bonal’s Meta-Lax technology is used to eliminate thermal stress in metal parts, thereby preventing warping and cracking, at a fraction of the energy and monetary costs of competing technologies. For more information visit www.Bonal.com or call 1-800-META-LAX.
|Contact:||Thomas E. Hebel|
|Toll Free:||800.638.2529 ext. 236|
|International:||248.582.0900 ext. 236|