Bonal International Reports 4th Quarter and Year-end Results
Royal Oak, Mich., June 30, 2021 – Bonal International, Inc. (OTC: BONL) announced a profit for the fiscal year amid the impact from the coronavirus. This was the sixteenth profitable year of the last seventeen fiscal years. Revenue for the fiscal year was $1,330,691, down 10.2 percent from last year’s revenue of $1,481,162. The year ended with a net income of $89,294, up from last year’s net loss of $49.950. Stockholders’ Equity was up 6.0 percent to $1,568,082 from $1,478,788 last year.
“Bonal was not immune to the year-long pandemic impact of lockdowns and economic regression,” said Thomas E. Hebel, Chairman. “Despite a challenging year, Bonal implemented many cost-saving initiatives and several digital advances. Together these efforts generated a profit, the second highest net income in the last five fiscal years. Bonal’s state-of-the-art system, Model 2800, dominated sales accounting for 53% of sales based on volume, up from 22% last fiscal year. Orders from current customers and customer referrals were strong again accounting for more than half (56%) of sales by volume. During the year, Bonal also improved its financial position, retained all of its employees, and did not go into debt. Considering the strength of our state-of-the-art equipment sales, implementing several digital advances and the metalworking industry returning to normal operations, fiscal year 2022 looks to be an exciting year.”
| Fiscal Year Ending March 31 | ||
|
| 2021 | 2020 |
| Revenue | $1,330,691 | $1,481,162 |
| Net (Loss) Income | $89,294 | ($49,950) |
| Earnings Per Share | $0.05 | ($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 | ||
|
| 2021 | 2020 |
| Revenue | $296,964 | $265,167 |
| Net (Loss) Income | ($12,363) | ($79,402 |
| Earnings Per Share | (0.01) | ($0.05) |
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.