Bonal International Third Quarter Results for Fiscal Year 2023
Royal Oak, Mich., February 22, 2023 – Bonal International, Inc., (OTC: BONL) announced revenue results of $384,626 for the third quarter ended December 31, 2022, which was up 6.4 percent over the last year’s third quarter. Net income for the third quarter was a loss of $28,804, down from last year’s third quarter of $12,221. Earnings per share for the third quarter were a loss of $0.02 per share, down from last year’s third quarter of $0.01 per share.
“This quarter was an outlier for Bonal’s profits, which have been consistent for years. Our target markets were struggling with little industrial growth and low business optimism,” said Thomas E. Hebel, Chairman of the Board. “However, our company suffered much less than others in the metalworking industry because of our outstanding customer loyalty. During this quarter, our current customers and referrals from customers accounted for 56 percent of sales based on volume, up from a 51 percent historical average (9.8% increase).”
Year-to-date revenue was $1,278,064, down 3.6 percent from last fiscal year’s first nine-month period. Net income for the nine months was a loss of $7,778, down from last year’s $125,194 net income over the same period. Earnings per share were $0.00 compared to $0.07 per share over the same period last year.
| Three Months Ended December 31, | ||
|
| 2022 | 2021 |
| Revenue | $384,626 | $361,594 |
| Net Income | ($28,804) | $12,221 |
| Earnings Per Share | ($0.02) | $0.01 |
| Nine Months Ended December 31, | ||
|
| 2022 | 2021 |
| Revenue | $1,278,064 | $1,326,065 |
| Net Income | ($7,778) | $125,194 |
| Earnings Per Share | ($0.00) | $0.07 |
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’s Meta-Lax® Stress relief and Weld Conditioning equipment is 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, power generation, racing, shipbuilding, and welding industries. Bonal’s Meta-Lax technology is applied 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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