Bonal International Reports First Quarter Results - Beckley, Bluefield & Lewisburg News, Weather, Sports

Bonal International Reports First Quarter Results

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SOURCE Bonal International, Inc.

Significant increase in revenue and net income leads to best first quarter in seven years.

ROYAL OAK, Mich., Aug. 12, 2014 /PRNewswire/ -- Bonal International, Inc. (OTC: BONL) announced significant increases in revenue and net income with today's release of its first quarter results.  Revenue rose to $618,144 in the first quarter, a 19 percent increase from $519,077 in the first quarter last year.  Net income doubled to $110,054 compared to $54,544 from last year's first quarter net income.  Earnings per share increased to $0.06 compared to $0.03 last year.

 

Bonal International Reports First Quarter                                                      


First Quarter Ending June 30


2014

2013

Revenue

$618,144

$519,077

Net Income

$110,054

$54,544

Net Income Percentage

17.8%

10.5%

Earnings Per Share

$0.06

$0.03

Note: This table contains unaudited results.

"First time customers, especially those from the United States, led sales by volume this quarter at 72 percent," said Thomas E. Hebel, President and CEO of Bonal International.  "We believe that this is an indicator that the U.S. metal working industry is starting to recover, yielding a more receptive market."

A nice compliment to this influx of new business was the continued stream of reorders from current customer including, for example, a major utility company in Costa Rica, purchasing its third Meta-Lax system from Bonal.

This is the first full quarter under the management of Thomas E. Hebel since he led Bonal as interim president for eleven quarters which ended the third quarter of fiscal year 2013. 

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 more than 60 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 for eliminating thermal stress in metal parts, thereby preventing warping and cracking, at a fraction of the energy and monetary costs of competing technologies.  More information can be found at www.Bonal.com or by calling 1-800-Meta-Lax.

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