Bonal International Reports First Quarter Results Significant Foreign Sales Yield Further Revenue Increase
ROYAL OAK, Mich., Aug. 3, 2011 /PRNewswire/ -- Bonal International, Inc. (OTC: BONL) announced significant upturns in revenue with today's release of its first quarter results. Revenue rose to $570,385 in the first quarter of this year from $529,685 last year, an increase of 7.7 percent. Net income was very respectable at $89,454 this year although showing a slight decrease from $123,960 net income last year. Earnings per share were $0.05 compared to $0.07 last year.
"Our revenue continues to rise despite the domestic small business confidence index declining during each month of the quarter," said Thomas E. Hebel, Interim President of Bonal Technologies, Inc. "Foreign sales were 11 percent higher this quarter than they were for last year's first quarter and accounted for 44 percent of sales by unit volume."
Bonal's two high-end Meta-Lax® stress relief products, Model 2700 (computer controlled) and Model 2400 (computer assisted, touch-screen) dominated sales this quarter accounting for 72 percent of sales based on unit volume compared to 48 percent last year for the same models. "The increase in sales for our high-end models demonstrates that companies have money and are willing to buy the Meta-Lax® model that they really want," said Hebel.
First Quarter Ending June 30
Earnings Per Share
Note: This table contains unaudited results.
Bonal International Inc., through its wholly owned subsidiary, Bonal Technologies, Inc. is the 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 more than 54 countries worldwide. Headquartered in Royal Oak, Mich., Bonal serves the aerospace, armament, automotive, petroleum, die casting, mining, racing, machine tool building, mold making, ship building, and welding industries. Bonal's Meta-Lax® technology is used for eliminating thermal stress in metal parts, thereby preventing warping and cracking, at a fraction of the time, energy, and monetary costs of competing technologies. More information can be found at www.bonal.com or by calling 1-800-Metal-29.
SOURCE Bonal International, Inc.