ROYAL OAK, Mich., July 01, 2016 (GLOBE NEWSWIRE) -- Bonal International, Inc. (OTC:BONL) announces fiscal year 2016 was its twelfth consecutive profitable year. Bonal posted net income of $202,651, down from $443,162 last year which was positively impacted by a $100,237 insurance policy payout. Revenue was $2,093,614, down 11.3 percent from last year’s revenue of $2,360,696. Earnings per share were $0.12 per share, down from last year’s $0.25 per share. Stockholder’s equity was $1,469,743, down 3.9 percent from $1,529,280 last year.
“Overall, fiscal year 2016 was good for Bonal International, although not as strong as fiscal year 2015,” said Thomas E. Hebel, chairman. “Bonal’s net income of $202,651 was 9.7 percent of revenue. The real story for the year, however, was that this success was accomplished amid a challenging economic environment. The American Optimism Index declined further into recessionary levels at the same time that the U.S. dollar was increasing in value to a 13-year high. We sold equipment in 10 foreign countries with Canada buying the most. Current customers accounted for 42 percent of revenue again this year, which is a testament to their support for our patented Meta-Lax technology.”
In fiscal year 2016 the board of directors issued two dividends totaling $0.15 per share, making this the eleventh consecutive year issuing dividends.
|Fiscal Year Ending March 31|
|Earnings Per Share||$||0.12||$||0.25|
Bonal International Reports Fourth Quarter
Revenue for the fourth quarter was $308,890, a decrease from last year’s $802,176. The Company posted a small loss of ($24,598), down from last year’s $146,443 net income for the same quarter.
|Fourth Quarter Ending March 31|
|Earnings Per Share||$||(0.01||)||$||0.08|
Bonal International, Inc., through its wholly owned subsidiary, Bonal Technologies, Inc., is the developer and world’s only source for subharmonic vibratory stress relief and weld conditioning technology. This revolutionary technology is called Meta-Lax®. Bonal offers three product lines utilizing its patented Meta-Lax® technology. These systems are sold in more than 60 countries. Bonal serves the aerospace, automotive, defense, die-casting, machining and grinding, machine tool building, mold making, petroleum, power generation, racing, shipbuilding, and welding industries. Bonal’s Meta-Lax® technology is used to eliminate thermal stress in metal parts, thereby preventing distortion and cracking. Applying Meta-Lax® technology typically costs a fraction of the time, money, and energy 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 Email: email@example.com
Source:Bonal Technologies, Inc.