Bonal International, Inc. Posts Third Quarter Record in Revenue
ROYAL OAK, Mich., Feb. 15, 2013 /PRNewswire/ -- Bonal International, Inc. (OTC: BONL) announced a record third quarter revenue of $620,577, up 53 percent over last year's third quarter of $405,533. The revenue is the highest achieved for any third quarter for the company. Net income was $74,833, up from last year's $8,043. This is the eleventh consecutive profitable quarter for the company. Earnings per share increased to $0.04 per share from $0.005 per share last year's third quarter. Nine month figures were very strong. Revenue was up 9 percent to $1,790,230 from last year's nine month revenue of $1,648,570. Net income increased 14 percent to $311,985 from last year's nine month net income of $273,197. Likewise, earnings per share increased to $0.18 per share up from $0.16 last year's nine month earnings per share. During the quarter the board of directors issued its second and third $0.10 per share dividends of the fiscal year.
"Our current customers set the pace this quarter by accounting for 61 percent of the sales by volume by ordering additional equipment and referring their suppliers to us. This speaks volumes about the confidence our customers place on Bonal's patented Meta-Lax® stress relief technology and the quality and value of our equipment," said Thomas E. Hebel, who completed his eleventh quarter as interim president.
Third Quarter Ending December 31 -------------------------------- Note: This table contains unaudited results. 2012 2011 ---- ---- Revenue $620,577 $405,533 Net Income $74,833 $8,043 Earnings/Share $0.04 $0.005 Nine Months Ending December 31 ------------------------------ Note: This table contains unaudited results. 2012 2011 ---- ---- Revenue $1,790,230 $1,648,570 Net Income $311,985 $273,197 Earnings / Share $0.18 $0.16
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 patented 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
SOURCE Bonal International, Inc.