ROYAL OAK, Mich., July 05, 2017 (GLOBE NEWSWIRE) -- Bonal International, Inc. (OTC:BONL) announces fiscal year 2017 was its thirteenth consecutive profitable year. Bonal posted net income of $54,357, compared to $202,651 last year. Revenue was $1,610,471, off 23.1 percent from last year’s revenue of $2,093,614. Earnings were $0.03 per share, off from last year’s $0.12 per share. Stockholders’ equity declined slightly to $1,454,183, or 1.1 percent, from $1,469,743 last year.
“Just as our country went through an interesting and challenging last 12 to 16 months, Bonal International followed suit,” said Thomas E. Hebel, chairman. “It has not been an easy road, but the good news is we were profitable, persevered through unusual economic conditions, paid dividends, and set ourselves up to have a great recovery. In the first half of the fiscal year the small business optimism index dropped another two points on average from its previous recessionary levels and the value of the US dollar reached a 14 year high. This indicated that the metalworking market, both domestic and international, was reluctant to spend money on capital equipment. Looking forward, I see very positive signs. The small business optimism index has rebounded strongly since November, and our new computerized system, after a year-long delay, is expected to be on the market by the end of the second quarter of fiscal year 2018.”
Bonal’s current customers accounted for 55 percent of sales by volume. This very high level of customer support demonstrates the value and confidence that Bonal’s customers place on its patented Meta-Lax® technology and equipment. Two of the more notable companies that bought Meta-Lax® equipment this year included TigerCat and Bombardier.
In fiscal year 2017, the board of directors issued one dividend for $0.04 per share, making this the twelfth consecutive year issuing dividends.
|Fiscal Year Ending March 31|
|Earnings Per Share||$0.03||$0.12|
Revenue for the fourth quarter was $419,088, up 35.7 percent from last year’s $308,890. Net income was $64,278, up from last year’s loss of $24,598 over the same quarter.
|Fourth Quarter Ending March 31|
|Earnings Per Share||$0.04||($0.01)|
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.