Bonal International Reports First Quarter Results for Fiscal Year 2024
Royal Oak, Mich., November 7, 2023—Bonal International, Inc. announced that fiscal year 2024 started down from last fiscal year regarding revenue generation. Revenue was off 15.9 percent to $405,518 from $482,360, last year’s first quarter. The first quarter of fiscal 2024 generated a net loss of $19,792 compared to $19,202 last year. Earnings per share was $(0.01), compared to $0.01 last year.
“This quarter was a turning point for Bonal and for me,” said Thomas E. Hebel, Chairman. “I stepped down as President of Bonal Technologies, Inc. and I will continue as Chairman of the Board of Bonal International, Inc. During this quarter the board identified and hired my successor as president—Torsten Warnatsch. We are excited to have Mr. Warnatsch join the company, particularly since he is bringing a wealth of experience as an automotive supplier. Mr. Warnatsch has numerous contacts within the automotive and aerospace industries throughout North America and Europe. The recruiting fees incurred to hire Mr. Warnatsch were posted during the quarter, resulting in a net loss for the quarter.”
| First Quarter Ending June 30, | ||
|
| 2023 | 2022 |
| Revenue | $405,518 | $482,360 |
| Net Income | ($19,792) | $19,202 |
| Net Earnings Per Share | ($0.01) | $0.01 |
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 a Meta-Lax stress relief product line which has 15 models. Meta-Lax 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, 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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