Bonal International Reports Second Quarter Results for Fiscal Year 2015

Revenue and Net Income Down, Bonal Still Posts Profit

Nov 26, 2014, 12:08 ET from Bonal International, Inc.

ROYAL OAK, Mich., Nov. 26, 2014 /PRNewswire/ -- Bonal International, Inc., (OTC:  BONL) announced revenue for the second quarter ended September 30, 2014 of $434,857 down 25.2 percent from the second quarter ended September 30, 2013.  Net income earned during the second quarter 2014 was $28,190 down from $114,148 earned in the second quarter 2013. Net income represented a 6.5 percent profit.  Earnings per share were $0.02 per share in the second quarter 2014 compared to $0.07 per share for the second quarter last year.

During the quarter, Bonal's board of directors authorized the payment of another dividend, the second dividend paid during the fiscal year and fifteenth dividend in the last ten fiscal years.

"Bonal was able to generate a 6.5 percent profit this quarter amid global economic instability," said Thomas E. Hebel, chairman.  "Uncertainty concerning the U.S. elections and international unrest negatively impacted our foreign and domestic equipment sales. Our continuing customer support helped us maintain profitability."

One significant highlight of the quarter was that 60 percent of sales, based on unit volume, came from current Bonal customers or referrals from Bonal customers. 

Year to date results for the six months ended September 30, 2014 were down from the same period in 2013.  Revenue decreased 4.3 percent to $1,053,002 from $1,100,402 in 2013.  Net income of $138,244 was down 18.0 percent from $168,692 for the same six month period last year.  Earnings per share were $0.08 compared to $0.10 last year.

Second Quarter Ended September 30,


2014

2013

Revenue

$434,857

$581,325

Net Income

$28,190

$114,148

Net Income Percentage

6.5%

19.6%

Earnings Per Share

$0.02

$0.07

Note:  This table contains unaudited results.

Six Months Ended September 30,


2014

2013

Revenue

$1,053,002

$1,100,402

Net Income

$138,244

$168,692

Net Income Percentage

13.1%

15.3%

Earnings Per Share

$0.08

$0.10

Note:  This table contains unaudited results.

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 more than 60 countries worldwide.  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 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-Meta-Lax.

SOURCE Bonal International, Inc.



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