ROYAL OAK, Mich., Aug. 6 /PRNewswire-FirstCall/ -- Bonal International, Inc. (OTC: BONL) announced significant upturns in revenue and net income with today's release of its first quarter results. Revenue rose to $529,685 in the first quarter of this year from $351,827 in the first quarter last year, an increase of 51 percent. Net income presented a strong rebound to a $123,960 profit this year from a loss of $40,852 last year. Earnings per share improved to a gain of $0.07 from a loss of $0.02 last year.
"Current Bonal customers are among the quickest companies to revive from the recession," said Thomas E. Hebel, newly appointed interim President of Bonal Technologies, Inc. Approximately 47 percent of Bonal's unit sales in the first quarter were from current customers wanting to expand their Meta-Lax Stress Relief and Weld Conditioning capacity.
"It is apparent that Bonal's patented Meta-Lax technology gives our customers a competitive edge that enables them to weather the recession," said Hebel. "And now, they are looking to bolster that advantage to capture greater portions of their market."
First quarter total unit sales were up 40 percent. Domestic unit sales were up 33 percent and foreign unit sales were up 100 percent.
This was the first fiscal quarter with Bonal being under the new leadership of interim President Thomas E. Hebel, formerly a Vice-President of Bonal for 26 years.
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 50 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.