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ROYAL OAK, Mich., Feb. 12, 2016 -- Bonal International, Inc., (OTC:BONL) announced third quarter revenue of $532,288, a 5.3 percent increase over $505,519 for last year’s third quarter. Net income was $18,482, or 3.5 percent of net sales, making it the seventh consecutive profitable quarter. Net income for the third quarter was down from last year’s third quarter of $158,475 which was positively affected by insurance proceeds of $100,237. Earnings per share for the third quarter was $0.01, down from $0.09 in last year’s third quarter.
“Domestic sales accounted for 82 percent of volume this quarter which was up from its normal 60-65 percent range,” said Thomas E. Hebel, President and CEO of Bonal International, Inc. “Sales within the United States held firm in light of global and domestic uncertainty.”
During this quarter, Bonal issued a $0.05 per share dividend, which was the second dividend of the fiscal year and the nineteenth dividend in the past 11 consecutive fiscal years.
Year-to-date revenue for the nine months that ended December 31, 2015 were up 14.5 percent to $1,784,723, from $1,558,520 over the same period in fiscal year 2015. Net income was down 23.4 percent to $227,249, at 12.7 percent of net sales, from last year’s $296,718. Earnings per share was $0.13 compared to $0.17 for last year. The nine months net income and earnings per share figures from last year were also affected by the insurance proceeds.
| Third Quarter Ended December 31, | ||||||
| 2015 | 2014 | |||||
| Net Sales | $ | 532,288 | $ | 505,519 | ||
| Net Income | $ | 18,482 | $ | 158,475 | ||
| Net Income Percentage | 3.5 | % | 31.3 | % | ||
| Earnings Per Share | $ | 0.01 | $ | 0.09 | ||
| Nine Month Totals Ended December 31, | ||||||
| 2015 | 2014 | |||||
| Net Sales | $ | 1,784,723 | $ | 1,558,520 | ||
| Net Income | $ | 227,249 | $ | 296,718 | ||
| Net Income Percentage | 12.7 | % | 19.0 | % | ||
| Earnings Per Share | $ | 0.13 | $ | 0.17 | ||
Bonal International Reports Third Quarter
Bonal International, Inc., through its wholly owned subsidiary, Bonal Technologies, Inc., is the developer and world’s only source for subharmonic vibratory stress relief and weld conditioning technology. This revolutionary technology is called Meta-Lax®. Bonal offers three product lines utilizing its patented Meta-Lax® technology. These systems are sold in more than 60 countries. Bonal serves the aerospace, automotive, defense, die-casting, machining and grinding, machine tool building, mold making, petroleum, power generation, racing, shipbuilding, and welding industries. Bonal’s Meta-Lax® technology is used to eliminate thermal stress in metal parts, thereby preventing distortion and cracking. Applying Meta-Lax® technology typically costs a fraction of the time, money, and energy of competing technologies. More information can be found at www.Bonal.com or by calling 1-800-META-LAX.
Contact: Thomas E. Hebel Toll Free: 800.638.2529 ext.236 International: 248.582.0900 ext.236 Email: [email protected]
