Bonal International, Inc. Holds Its Own in Challenging Economic Times
June 19 2009 - 10:57AM
PR Newswire (US)
Company announces modest net income and earnings for FY ended March
31, 2009 ROYAL OAK, Mich., June 19 /PRNewswire-FirstCall/ -- Bonal
International, Inc. (OTC:BONL) today announced consolidated
financial results for the fiscal year ended March 31, 2009. Despite
the challenging economic times in the manufacturing sector, Bonal
announced modest net income and earnings. In the year ended March
31, 2009, Bonal International, Inc. posted net sales of $1,696,878
compared to $2,545,923 in 2008. Net income after tax is $30,109 and
earnings per share of $0.01, compared to a net income of $523,168
or $0.31 earnings per share last year. Fourth quarter revenue for
Bonal International was $332,618 from $747,917 at March 31, 2008.
Bonal posted a slight loss in the fourth quarter net income
($24,178), down from $134,976 last year. Bonal also had a per share
quarterly loss of $(0.01) compared to $0.08 last year. 4th Quarter
ending March 31, 2009 2009 2008 Revenue $332,618 $747,917 Net
income (24,178) 134,976 Earnings per share $(0.01) $0.08 Fiscal
Year ending March 31, 2009 2009 2008 Revenue $1,696.678 $2,545,923
Net income 30,109 523,168 Earnings per share $.01 $0.31 "We are
pleased that despite the economic downturn Bonal International has
stayed in the black for the year," said A. George Hebel, III,
chairman and president of Bonal International. "As we move into
fiscal year 2010, Bonal's goal is to continue to position the
company for growth once the economy recovers." As the world's
leading provider of sub-harmonic vibration technology for metal
improvement solutions, Bonal's goal is to help companies keep
competitive by reducing operating and energy costs. Bonal's
technology helps manufacturers become more "green" or
environmentally friendly and lower their carbon footprint while
continuing to increase shareholder value. Bonal's patented
technology and its product lines Meta-Lax(R) Stress Relief, Pulse
Puddle Arc Welding(R) (PPAW(R)) and Black Magic(R) can help to
reduce energy consumption by 98 percent compared to
natural-gas-fired heat treatments as shown by research conducted by
the U.S. Department of Energy. 2009 Key Accomplishments Bonal unit
sales showed an increase of repeat customers to 34 percent from 25
percent last year. Bonal also maintained foreign sales at 33
percent. Bonal had dollar sales in 42 states and 17 foreign
countries. Nearly 90 percent of sales were sold by the in-house
sales department. Bonal International Inc. will hold its annual
meeting on Wed., August 5, 2009 for shareholders of record on July
6, 2009 at Bonal's corporate offices in Royal Oak, Mich. Bonal
International Inc. through its wholly owned subsidiary, Bonal
Technologies, Inc., is the world's leading provider of sub-harmonic
technology for metal improvement solutions with more than 35 years
of expertise. Bonal's patented technology and its three product
lines: Meta-Lax(R) Stress Relief, Pulse Puddle Arc Welding(R)
(PPAW(R)) and Black Magic(R) for distortion control, are sold in
the US and in more than 50 countries. Headquartered in Royal Oak,
Mich., Bonal provides a variety of services including consulting,
training, program design and metal stress relief services for
customers. Bonal's technology helps a variety of industries
including aerospace, armament, automotive die casting, engine
building, machine tool, mining, petroleum, plastic molding, racing,
ship building and welding. More information on Bonal can be found
at http://www.bonal.com/ or by calling 800-Metal-29. DATASOURCE:
Bonal International, Inc. CONTACT: Janine M. Krasicky of J9 Media
Solutions LLC, +1-248-542-3991, +1-248-514-4558 (mobile), for Bonal
Web Site: http://www.bonal.com/
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