ROYAL OAK, Mich., June 29, 2011 /PRNewswire/ -- Bonal
International, Inc. (OTC: BONL) announced 2011 fiscal year end
revenue of $2,560,569, the highest in
corporate history, representing a 42 percent increase in the first
full year under the leadership of Interim President Thomas E. Hebel.
"Fiscal year 2011 was an exciting year," said Hebel, Interim
President of Bonal International. "Even with business confidence
indicators still near historic lows, Bonal responded to these
challenges with success, posting its seventh consecutive profitable
year in an impressive way."
Net income of $510,590 was our
second best, a tremendous turnaround from the $3,978 profit in 2010. Earnings per share
jumped to $0.29.
"We were able to offset the slow economy by changing our focus
at Bonal. New corporate policies, a new state-of-the-art
product, greater emphasis on international sales, and a unified
team effort all combined to produce record results," Hebel
said.
"In 2011, changes were made in every department that improved
efficiency and communication resulting in a 21 percent increase in
sales volume and 42 percent jump in revenue," Hebel said.
"This year we had a full year promoting our Model 2400 which was
introduced towards the end of fiscal year 2010, and we introduced
another model, Model 2000. Both models feature touch-screen
control panels and semi-automatic functions and were initiated by
former President A. George Hebel,
III," said Interim President Thomas
E. Hebel. "This year we saw both models become not
only a reality, but two of our highest demanded products. The Model
2400 accounted for 40 percent of unit sales and has now become our
'standard' system."
Other factors contributed to Bonal's success in 2011.
Foreign sales increased 76 percent and accounted for 40
percent of corporate sales by volume. Repeat customers
accounted for 41 percent of sales by volume through new purchases
and referrals.
"Our focus on international sales and increased customer
interaction has created many new opportunities," said Hebel.
"In fiscal year 2011, Bonal sold equipment in 17 different
countries, including first time sales in Russia, Portugal, Romania, and Trinidad. Meanwhile, several of our
current customers expanded their operations by ordering additional
units to meet their demands."
The fourth quarter of 2011 achieved more corporate records.
Record revenue for a fourth quarter was posted at
$868,397, an astounding 135 percent
increase over the $369,385 fourth
quarter in 2010. The fourth quarter revenue was the highest
of any quarter in Bonal's history. The fourth quarter of 2011
also posted a record high net income at $165,917, a huge increase over the loss in 2010's
fourth quarter. Earnings per share were $0.09 in the fourth quarter. The fourth
quarter also included record revenue for a single month (March) at
$407,028.
"This is the first year since fiscal year 2008 that we achieved
a quarterly net income of over $100,000, said Interim President Thomas E. Hebel, "and we did it in all four
quarters, another company record. This fiscal year has been a
real team effort from start to finish."
|
|
Fourth
Quarter Ending March 31
|
|
|
2011
|
2010
|
|
Revenue
|
$868,397
|
$369,385
|
|
Net
Income
|
$165,917
|
(27,175)
|
|
Earnings Per
Share
|
$0.09
|
(.02)
|
|
|
|
|
|
|
Note: This table contains unaudited results.
|
|
Fiscal Year
Ending March 31
|
|
|
2011
|
2010
|
|
Revenue
|
$2,560,569
|
$1,804,135
|
|
Net
Income
|
$510,590
|
$3,978
|
|
Earnings Per
Share
|
$0.29
|
0.00
|
|
|
|
|
|
|
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 54 countries worldwide.
Headquartered in Royal Oak,
Mich., Bonal serves the aerospace, armament, automotive,
petroleum, die casting, mining, racing, machine tool building,
plastic molding, 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 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.