ROYAL OAK, Mich., Aug. 09, 2017 (GLOBE NEWSWIRE) -- Bonal International, Inc. (OTC:BONL) announced that fiscal year 2018 started off with a bang, posting significant increases in revenue, net income, and earnings per share. Revenue rose to $615,798, up 76.2 percent in the first quarter from $349,406 last year’s first quarter. Net income for the quarter represented a strong rebound to a $109,163 profit compared to last year’s loss of $21,332 for the same quarter. Earnings per share jumped to a gain of $0.06 from a loss of $0.01 in last year’s first quarter.
“Bonal’s impressive success this quarter was largely due to a significant increase in sales from established customers,” said Thomas E. Hebel, president and chairman of Bonal International, Inc. “Current customers accounted for a massive 64 percent of sales by volume, which was 16.4 percent higher than last year’s 55 percent. This signals to us that Bonal’s customers appreciate that the time and cost savings generated by Meta-Lax® equipment play an important part, not only in their recovery from the recession, but in expansion.”
| First Quarter Ending June 30 | ||||
| 2017 | 2016 | |||
| Revenue | $615,798 | $349,406 | ||
| Net Income | $109,163 | ($21,332) | ||
| Net Earnings Per Share | $0.06 | ($0.01) | ||
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.