BONL Bonal International Inc (PK)

ROYAL OAK, Mich., Feb. 26, 2014 /PRNewswire/ -- Bonal International, Inc. (OTC: BONL) announced third quarter revenue of $436,626, compared to last year's record third quarter of $620,577. Net income (loss) was ($22,435), down from last year's $74,833. Earnings (loss) per share were ($0.01) compared to $0.04 per share for last year's third quarter.  Nine month figures, although off from a year ago, still remain positive.  Revenue was $1,537,028 down from last year's nine month revenue of $1,790,230.  Net income was $146,257 down from last year's nine month net income of $311,985.  Earnings per share came in at $0.08 per share for the nine month period ending December 31, 2013, down from last year's $0.18 per share. 

"The third quarter was very challenging.  We estimate that the international uncertainty, which started with the 16-day US government shutdown, cost Bonal about 19% of our revenue in the third quarter alone.  We remain optimistic that such business will be recovered as the international markets stabilize.  On a more positive note, sales from customer reorders and customer referrals continued at last year's record pace over the quarter.  This fact demonstrates once again that Bonal customers have extremely high regard for the value that our equipment brings them through any economic climate," said Thomas E. Hebel, Vice President.

Third Quarter Ending December 31
Note: This table contains unaudited results.

Nine Months Ending December 31
Note: This table contains unaudited results.

In additional business, the company held their Annual Shareholders Meeting on February 12, 2014. During the meeting shareholders elected two new directors to the Bonal International, Inc. board of directors, Messrs. Harold Y. Hebel, CPA and George W. Harrison.

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 60 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 1-800-638-2529.

SOURCE Bonal International, Inc.