Bonal International Reports 4th Quarter and Year-end Results
Royal Oak, Mich., August 11, 2020 – Bonal International, Inc. (OTC: BONL) announced a loss for the fiscal year amid the impact from the coronavirus. This was the first annual loss in 16 fiscal years. Before the pandemic hit, Bonal issued a dividend, the twenty-third dividend in the last fifteen fiscal years. Revenue for the fiscal year was $1,481,162, down 7.6 percent from last year’s revenue of $1,602,768. The year ended with a net loss of $49,950, down from last year’s net income of $51,990. Stockholders’ Equity was down 8.5 percent to $1,478,788 from $1,616,134 last year.
“Bonal finished the fiscal year on a mandatory plant shutdown,” said Thomas E. Hebel, Chairman. “The pandemic severely affected our fourth quarter. Before then, Bonal was doing well. Accordingly, in the third quarter the board of directors issued a $0.05 per share dividend. Even though the fourth quarter and subsequently the fiscal year did not meet our financial expectations, we did make progress toward future growth. This was the first full year that Bonal offered our all-new state-of-the-art computerized Meta-Lax stress relief system. It accounted for 22 percent of our sales by volume, which was higher than projections. We gave our website (www.Bonal.com) a major overhaul and it is now generating fifty percent more leads. We were also able to generate hundreds of leads from seven trade shows we exhibited at during fiscal year 2020. These measures should put us in a good position as global industrial markets reopen.”
| Fiscal Year Ending March 31 | ||
|
| 2020 | 2019 |
| Revenue | $1,481,162 | $1,602,768 |
| Net (Loss) Income | ($49,950) | $51,990 |
| Earnings Per Share | ($0.03) | $0.03 |
Bonal International Reports Fourth Quarter
Revenue for the fourth quarter was $265,167, down 34.5 percent from last year’s $404,736. The Company posted a loss of $79,402, down from $32,960 net income for the same quarter last year.
| Fourth Quarter Ending March 31 | ||
|
| 2020 | 2019 |
| Revenue | $265,167 | $404,736 |
| Net (Loss) Income | ($79,402) | $32,960 |
| Earnings Per Share | ($.05) | $0.02 |
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 offers three product lines–Meta-Lax® Stress relief and Weld Conditioning, Pulse Puddle Arc Welding®, and Black Magic® Distortion Control–which are 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, petroleum, racing, shipbuilding, and welding industries. Bonal’s Meta-Lax technology is used 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.
