Bonal International Reports Profitable First Quarter Results for Fiscal Year 2023
Royal Oak, Mich., August 15, 2022 – Bonal International, Inc. announced that fiscal year 2023 started off better than last fiscal year regarding revenue generation. Revenue was up 17.3 percent to $482,360 from $411,116, last year’s first quarter. Net income was down to $19,202 compared to $36,335 last year. Earnings per share was $0.01, compared to $0.02 last year. During the quarter, the Company announced a $0.05 per share dividend, which is the 25th dividend in the last 18 fiscal years.
“This quarter was our best first quarter for revenue generation in five fiscal years,” said Thomas E. Hebel, Chairman. “Our state-of-the-art Meta-Lax stress relief system, the Model 2800, led sales accounting for 50 percent of the sales by volume. During the quarter, all customers that ordered additional Meta-Lax equipment, as well as all the referrals from our customers, bought our top-of-the-line 2800 system. This is not only an endorsement to the effectiveness of the process but a statement as to the perceived value and return on investment that our customers appreciate for this higher-priced system. Also, during the quarter, we incurred higher expenses due to our reengaging in trade show participation after nearly two years of inactivity as well as higher payroll costs during the period.”
| First Quarter Ending June 30, | ||
|
| 2022 | 2021 |
| Revenue | $482,360 | $411,116 |
| Net Income | $19,202 | $36,335 |
| Net Earnings Per Share | $0.01 | $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 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.
