ROYAL OAK, Mich., Nov. 08, 2016 (GLOBE NEWSWIRE) -- Bonal International, Inc., (OTC:BONL) announced revenue results of $448,679 for the second quarter which ended September 30, 2016. This is a 28.4 percent increase over the first quarter but it is down 19.0 percent from last year’s second quarter. Net income for the second quarter was $16,471, up from last quarter’s loss of $21,332, but down from last year’s second quarter’s net income of $62,542. Earnings per share for the second quarter were $0.01, down from last year’s second quarter earnings of $0.04 per share.
“We are beginning to see signs that the metalworking industry is starting to recover,” said Thomas E. Hebel, chairman. “During the quarter, current customers and customer referrals combined to account for an impressive 54 percent of sales based on volume, up 12 percent from historical average. Additionally, Bonal used this quarter to expand market awareness of the Meta-Lax stress relief products by exhibiting at three major industry trade shows.”
Year-to-date revenue was $798,085, down 36.3 percent from last fiscal year’s first six-month period. Net income for the six months was a small loss of $4,860, down from last year’s $208,767 net income over the same six-month period.
|Second Quarter Ended September 30,|
|Earnings Per Share||$||0.01||$||0.04|
|Six Months Ended September 30,|
|Earnings Per Share||($||0.00||)||$||0.12|
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.
Contact: Thomas E. Hebel Toll Free: 800.638.2529 ext.236 International: 248.582.0900 ext.236 Email: firstname.lastname@example.org
Source:Bonal Technologies, Inc.