BONL Bonal International Inc (PK)

ROYAL OAK, Mich., Feb. 17, 2015 /PRNewswire/ -- Bonal International, Inc. (OTC: BONL) announced a solid third quarter with a 16 percent increase in revenue to $505,519 from last year's $436,626. Net income increased significantly to $158,475, whereas the previous year's third quarter was a loss.  Earnings per share also showed an increase of $0.09 compared to the previous year's $0.01 loss.  Reflecting Bonal's performance this quarter, the nine-month total of $1,558,520 represents a one percent increase from last year's $1,537,028.  Net income for the first nine months of the fiscal year is $296,718, up from $146,257 one year ago.  Earnings per share rose to $0.17 from last year's $0.08. 

During the quarter the board of directors approved a dividend of $0.05 per share based on special, non-reoccurring, circumstances. 

"Bonal's third quarter provided a nice increase over the second quarter figures.  The number of sales into foreign countries in this quarter was the highest of the fiscal year and accounted for 43 percent of our revenue by volume," said Thomas E. Hebel, chairman.  "In addition to increased foreign activity we experienced the impact of continued customer loyalty, through additional orders and referrals, which also contributed to over 40 percent of our revenue by volume." 

During this quarter Bonal received proceeds from an insurance policy which amounted to a non-operating income of $100,237.  Even without the special proceeds, net income for the nine-months was up 34 percent compared to last year's nine-month net income.  

Note: This table contains unaudited results.

Note: This table contains unaudited results.

Bonal International Inc., through its wholly owned subsidiary, Bonal Technologies, Inc. is the patent holder and 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 services the aerospace, armament, automotive, petroleum, die-casting, mining, racing, machine tool building, plastic molding, shipbuilding, 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.

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SOURCE Bonal International, Inc.