Bonal International Reports Third Quarter Results for Fiscal Year 2020
Royal Oak, Mich., February 13, 2020 – Bonal International, Inc., (OTC: BONL) announced revenue results of $419,834 for the third quarter which ended December 31, 2019. This was a 23.0 percent increase from last year’s third quarter. Net income for the third quarter was a $5,965, up from last year’s third quarter’s net income of a loss of $4,879. Earnings per share for the third quarters for both years were $0.00.
“In the quarter, we saw increased sales from both current customers and foreign companies,” said Thomas E. Hebel, chairman. “Current customers ordering additional Meta-Lax equipment was strong and accounted for 54 percent of our sales by volume. Tigercat, one of the leading forestry equipment manufacturers, was one of these customers. We also sold Meta-Lax equipment to companies in four foreign countries including Ecuador and Peru. International sales during the quarter accounted for 45 percent of our sales by volume, up 20 percent from the historical average.”
Year-to-date revenue was $1,215,995, up 1.5 percent from last fiscal year’s first nine-month period. Net income for the nine months was a $29,452, up from last year’s $19,548 net income over the same period.
| Third Quarter Ended December 31, | 2019 | 2018 |
| Revenue | $419,834 | $341,345 |
| Net Income | $5,965 | ($4,879) |
| Earnings Per Share | $0.00 | $0.00 |
| Nine Months Ended December 31, | 2019 | 2018 |
| Revenue | $1,215,995 | $1,198,032 |
| Net Income | $29,452 | $19,548 |
| Earnings Per Share | $0.02 | $0.01 |
Bonal International, Inc. through its wholly owned subsidiary, Bonal Technologies, Inc. is the patent holder and world’s leading provider of sub-harmonic vibratory stress relief and weld conditioning technology. Bonal provides three lines of equipment - 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 worldwide. Headquartered in Royal Oak, Mich., Bonal serves the aerospace, armament, automotive, petroleum, die-casting, mining, racing, machine tool building, plastic molding, shipbuilding, and welding industries. Bonal’s Meta-Lax technology is used to eliminate thermal stress in metal parts, thereby preventing warping and cracking, at a fraction of the energy and monetary costs of competing technologies. For more information visit www.Bonal.com or call 1-800-META-LAX.