ROYAL OAK, Mich., Aug. 16, 2016 (GLOBE NEWSWIRE) -- Bonal International, Inc. (OTC:BONL) announced today first quarter unaudited results ending June 30, 2016. Revenue for the first quarter was $349,406, down fifty percent from last year’s record first quarter of $698,379. Net income for the quarter was a small loss of $21,332 compared with last year’s $146,215 net income for the same quarter. This amounted to a $0.01 loss per share.
“Due the state of the metalworking industry, some contraction was expected,” said Thomas E. Hebel, president and chairman of Bonal International, Inc. “We took steps to minimize our loss. Despite the bland economy, there were a few encouraging signs from the quarter. Bonal’s rental income rose by 23 percent from the previous quarter and unit sales into Canada accounted for over 27 percent of our volume.”
| First Quarter Ending June 30 | ||||||
| 2016 | 2015 | |||||
| Revenue | $ | 349,406 | $ | 698,379 | ||
| Net Income | ($ | 21,332 | ) | $ | 146,215 | |
| Net Earnings Per Share | ($ | 0.01 | ) | $ | 0.08 | |
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 serves 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.