Bonal International Reports Fourth Quarter and Fiscal Year 2010 Results Bonal reports its sixth straight year of profit, with increased sales balancing out higher costs
ROYAL OAK, Mich., June 11 /PRNewswire-FirstCall/ -- Bonal International, Inc. (OTC: BONL) announced an 11 percent increase in revenue for the fourth quarter over the fourth quarter of last year and a six percent increase for the 2010 fiscal year, despite the continued economic recession. Additionally, fiscal year 2010 was the fifth consecutive year that Bonal International issued dividends.
"Through an increase in sales, Bonal has maintained a slight profit, even while absorbing the research and development costs of a new high-tech product, all while selling to an economically depressed market," said Thomas E. Hebel, interim President of Bonal International.
Net loss was up due to expenses incurred for CE Certification approval, with a 37 percent increase from last year's fourth quarter. Year-end earnings were profitable for the sixth consecutive year.
In other news, Bonal announced the introduction of its all new Meta-Lax 2400 touch-screen unit in March after nearly two years in the making. "The new 2400 series unit, with its touch-screen control panel and unlimited job data storage capability, will help ensure the continued success of Bonal in the future by solving many of the high-tech challenges of the metalworking industry with this high-tech solution," Hebel said.
Fourth Quarter Ending March 31, 2010
Net Income (loss)
Earnings Per Share
Fiscal Year Ending March 31, 2010
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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 50 countries worldwide. Headquartered in Royal Oak, Mich., Bonal services the aerospace, armament, automotive, petroleum, die casting, mining, racing, machine tool building, plastic molding, 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 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.