Bonal International Reports Strong Fourth Quarter and Profitable Fiscal Year for 2023
Royal Oak, Mich., October 20, 2023 – Bonal International, Inc., (OTC: BONL) announced revenue results of $499,219 for the fourth quarter, ended March 31, 2023, up 25.2 percent over last year’s fourth quarter of $398,735. Net income for the fourth quarter was $59,099, down slightly from last year’s fourth quarter of $61,013. Earnings per share for the fourth quarter were $0.03 per share which was the same as last year.
“Bonal’s state-of-the-art computer system accounted for more than half of our sales by volume in the quarter and in the fiscal year,” said Thomas E. Hebel, chairman. “Customer re-orders and referrals continued to be our main source for sales, accounting for over 50% of our sales by volume. I believe this figure is clear evidence of extremely high customer satisfaction for our Meta-Lax equipment. During the fiscal year, Bonal was recognized as the Top Metal Working Company of the Year by Manufacturing Technology Insights, a prominent trade magazine.”
“On a personal note, I have decided it’s time for me to retire from the day-to-day operations of Bonal as your president. I will remain Chairman of the Board,” Hebel continued. “As of the date of this release, Bonal has hired my successor as president, Torsten Warnatsch. Warnatsch is a skillful executive with experience leading companies that supply the automotive and aerospace industries. See press release of June 22, 2023 for more information.
Fiscal year-end revenue was $1,777,283, up 3.0 percent from last year’s fiscal year-end of $1,724,800. Net income for the fiscal year 2023 was $51,321, down from last fiscal year-end net income. Earnings per share were $0.03 for fiscal year 2023, down from last year’s $0.11.
| For the Three Months Ended March 31, | ||
|
| 2023 | 2022 |
| Revenue | $499,219 | $398,735 |
| Net Income | $59,099 | $61,013 |
| Earnings Per Share | $0.03 | $0.03 |
| For the Year Ended March 31, | ||
|
| 2023 | 2022 |
| Revenue | $1,777,283 | $1,724,800 |
| Net Income | $51,321 | $186,207 |
| Earnings Per Share | $0.03 | $0.11 |
Bonal International, Inc., through its wholly owned subsidiary, Bonal Technologies, Inc., is the patent holder and world’s provider of sub-harmonic vibratory stress relief and weld conditioning technology and equipment. Bonal’s Meta-Lax® Stress relief and Weld Conditioning equipment is sold in the United States and in more than 65 countries. Headquartered in Royal Oak, Mich., Bonal serves the aerospace, automotive, defense, die-casting, machine tool building, mining, mold-making, power generation, racing, shipbuilding, and welding industries. Bonal’s Meta-Lax technology is applied to eliminate thermal stress in metal parts, thereby preventing distortion and cracking, at a fraction of the time, cost and energy consumption of competing technologies. For more information visit www.Bonal.com or call 1-800-Meta-Lax. •
