Bonal International Reports Profitable Second Quarter for Fiscal Year 2024
Royal Oak, Mich., November 14, 2023 – Bonal International, Inc., (OTC: BONL) announced revenue results of $471,204 for the second quarter ended September 30, 2023, which was up 14.6 percent over the prior year second quarter. Net income for the second quarter was $11,750, up from the prior year second quarter of $1,824. Earnings per share for the second quarter was $0.01 per share, up from prior year second quarter earnings of $0.00 per share.
“This quarter marked the debut of Torsten Warnatsch as Bonal’s new president,” said Thomas E. Hebel, Chairman. “The entire quarter was a transition period. Even so, Bonal generated an increase in revenue over both prior year second quarter and the first quarter of this fiscal year. Bonal’s net income also increased over the prior year second quarter and recovered most of the net loss sustained during the first quarter of this fiscal year. The product of choice in this quarter was Bonal’s state-of-the-art computerized stress relief system, which accounted for 70% of the sales by volume, up from its 5-year average of 53%.”
Year-to-date revenue was $876,722, down 1.9 percent from the prior fiscal year first six-month period. Net (loss) income for the six months ended September 30, 2023 was ($8,042), down from $21,026 over the same period respectively. Earnings per share was $0.00 compared to $0.01 per share during the prior year.
| Three Months Ended September 30, | ||
|
| 2023 | 2022 |
| Revenue | $471,204 | $411,078 |
| Net Income | $11,750 | $1,824 |
| Earnings Per Share | $0.01 | $0.00 |
| Six Months Ended September 30, | ||
|
| 2023 | 2022 |
| Revenue | $876,722 | $893,438 |
| Net Income | ($8,042) | $21,026 |
| Earnings Per Share | $0.00 | $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 three series of models within the Meta-Lax® product line, manual, semi-automatic, and fully automatic, 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.
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