Bonal International, Inc. Holds Its Own in Challenging Economic Times
Company announces modest net income and earnings for FY ended March 31, 2009
ROYAL OAK, Mich., June 19 -- 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.