Bonal International Third Quarter Results for Fiscal Year 2024
Royal Oak, Mich., February 23, 2024 – Bonal International, Inc., (OTC: BONL) announced revenue results of $390,199 for the third quarter ended December 31, 2023, which was up 1.4 percent over last year’s third quarter. Net loss for the third quarter was $18,235 compared to prior year’s third quarter loss of $28,805. Earnings per share for the third quarter was a loss of $0.01 per share compared to prior year’s third quarter loss of $0.02 per share.
“During the quarter, Bonal increased research spending associated with our ongoing research efforts which led to some losses,” said Thomas E. Hebel, Chairman. “We are always looking for new applications for our unique Meta-Lax vibration stress relief process, as well as to provide even more technical support for our current applications. Continual research and development are necessary to maintain our position as the worldwide leader in vibration-based thermal stress relief.”
Year-to-date revenue was $1,266,921, down 0.9 percent from last fiscal year’s first nine-month period. Net loss for the nine months was $26,277, down from last year’s loss of $7,778 over the same period. Earnings per share was a loss of $0.02 compared to $0.00 per share over the same period last year.
| Three Months Ended December 31, | ||
|
| 2023 | 2022 |
| Revenue | $390,199 | $384,626 |
| Net loss | ($18,235) | ($28,805) |
| Earnings Per Share | ($0.01) | ($0.02) |
| Nine Months Ended December 31, | ||
|
| 2023 | 2022 |
| Revenue | $1,266,921 | $1,278,064 |
| Net Income | ($26,277) | ($7,778) |
| Earnings Per Share | ($0.02) | ($0.00) |
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 64 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.
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