Bonal International Reports Profitable First Quarter Results for Fiscal Year 2022
Royal Oak, Mich., August 3, 2022 – Bonal International, Inc. announced that fiscal year 2022 started off considerably better than last fiscal year. Revenue was up 46.2% percent to $411,116, from $281,237 last year’s first quarter. Net income increased to $36,335, as compared to a net loss of $8,273 last year. Earnings per share were $0.02, up from $0.00 last year. During the quarter, the Company issued a $0.05 per share dividend, which was the 24th dividend in the last 17 fiscal years.
“This quarter represented our best first quarter for revenue generation in three fiscal years and the best net income in four fiscal years as industry begins to recover from the pandemic,” said Thomas E. Hebel, Chairman. “Our state-of-the-art Meta-Lax stress relief system, the Model 2800, led sales accounting for 55% of the sales by volume. During the quarter Toshiba bought a Meta-Lax system and several current customers bought additional systems including Hitech, a heat treating company located in Singapore.”
| First Quarter Ending June 30, | ||
|
| 2021 | 2020 |
| Revenue | $411,116 | $281,237 |
| Net Income | $36,335 | ($8,273) |
| Net 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 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.