Royal Oak, Mich., August 13, 2020 – Bonal International, Inc. announced that fiscal year 2021 started off sustaining a 7-week mandatory plant shutdown due to the pandemic. As a result, revenue was off 31.1 percent to $281,237, from $408,080 last year’s first quarter. For the quarter, Bonal posted a net loss of $8,273, compared to $2,942 net income last year. Earnings per share for both quarters were $0.00.
“This quarter was most unusual in that Bonal was required to stay shut down for what turned out to be seven weeks at the start of the quarter,” said Thomas E. Hebel, Chairman. “We still operated with a skeleton crew that would fill orders for our essential customers. Even when we were allowed to reopen, many customers in our target markets were not open. A positive trend during the quarter was 45 percent of our sales were for our new computerized system. More than half of our sales were to foreign companies. During the quarter Holt-Cat of Texas, a division of Caterpillar, bought another Meta-Lax system as did Hamilton Sundstrand, an aerospace parts supplier.”
| First Quarter Ending June 30 | ||
|
| 2020 | 2019 |
| Revenue | $281,237 | $408,080 |
| Net Income | ($8,273) | $2942 |
| Net Earnings Per Share | $0.00 | $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 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.
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