Bonal International, Inc. Posts First Quarter Results Bonal continues international growth with first time sales in Croatia and India
ROYAL OAK, Mich., July 31 /PRNewswire-FirstCall/ -- Bonal International, Inc. (OTC: BONL) today announced first quarter ending June 30, 2009 unaudited results. Bonal's sales decreased 42 percent from $601,951 to $351,827. "Because of the U.S. economy, contraction was anticipated and the losses were minimized by cost control measures implemented in late fiscal year 2009," said A. George Hebel, III, chairman and president of Bonal International.
Bonal Technologies' rental income increased marginally, demonstrating that small businesses are still interested in Bonal's technology but hesitant about making capital equipment purchases because of nervousness about the US economy. In the first quarter, Bonal continued its international growth with first time sales in Croatia and India. Sales in Michigan accounted for 20 percent of sales. Bonal also sold Black Magic(R) for distortion control to the University of Minnesota to be used on high precision prototype parts.
1st Quarter ending June 30, 2009 -------------------------------- 2009 2008 Revenue $351,827 $601,951 Net income ($40,852) $63,336 Earnings per share ($0.02) $0.04
As the world's leading provider of sub-harmonic vibration technology for metal improvement solutions, Bonal's goal is to help companies keep environmentally friendly and competitive by reducing operating and energy costs. Bonal's technology helps a variety of industries including aerospace, armament, automotive, construction equipment, defense/homeland security, die casting, engine building, foundries, gunsmithing, machine tool, mining, mold making, petroleum, power, racing, shipbuilding, structural steel construction, steel producers and welding/ fabricating. Bonal's technology helps manufacturers reduce energy usage, reduce trips to the heat treater for stress relieving and reduce work piece replacement since parts have a longer service life (up to 400%).
Bonal International, Inc. through its wholly owned subsidiary, Bonal Technologies, Inc., is the world's leading provider of sub-harmonic technology for metal improvement solutions with more than 35 years of expertise. Bonal's patented technology is an environmentally friendly, "green technology" that replaces some heat treating processes and reduces energy consumption by 98 percent. Bonal's patented technology and its three product lines: Meta-Lax(R) Stress Relief, Pulse Puddle Arc Welding(R) (PPAW(R)) and Black Magic(R) for distortion control, are sold in the US and in more than 50 countries. Headquartered in Royal Oak, Mich., Bonal provides a variety of services including consulting, training, program design and metal stress relief services for customers. More information on Bonal can be found at www.bonal.com or by calling 800-Metal-29.
SOURCE Bonal International, Inc.