Bonal International, Inc. Posts Strongest Year-End Results Yet
28 June 2007 - 10:45PM
PR Newswire (US)
Strong Momentum Continues for Three Consecutive Years ROYAL OAK,
Mich., June 28 /PRNewswire-FirstCall/ -- Bonal International, Inc.
(OTC:BONL) today announced consolidated financial results for the
fiscal year ended March 31, 2007 with strong momentum for the third
consecutive year, posting its strongest results in the 23-year
history of the company. In 2007, Bonal reached an all time high in
net sales, which were up 2.5 percent. In addition, Bonal increased
its gross profit, operating income and net income significantly
more than its increase in sales. In terms of dollars and percentage
profit, Bonal topped its sales from 2006, making 2007 its best
year. In the year ended March 31, 2007, Bonal International, Inc.
again posted a strong set of results, with net sales up by 2.5
percent to $2,031,598 and before tax income at a strong $490,653,
compared to a before tax profit of $376,058 last year. Bonal's
healthy profit has increased stockholder equity by 33 percent, the
highest it has been at $1,061,631 or $0.64 per share. Retained
earnings are positive at $459,679, after paying a $0.05 dividend
totaling $83,046. Assets increased 26.8 percent to $1,362,238 or
$0.82 per share. Working capital increased 39.4 percent. Net income
after tax is $340,653 or $0.21 per share compared to a net income
of $251,058 or $0.15 per share last year, an increase of 35.7
percent. 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 a variety of industries including
aerospace, armament, automotive die casting, engine building,
machine tool, mining, petroleum, plastic molding, racing, ship
building and welding. Bonal's patented technology and its three
product lines include: Meta-Lax(R) Stress Relief, Pulse Puddle Arc
Welding(R) (PPAW(R)) and Black Magic(R) help to reduce energy
consumption by 98 percent compared to natural-gas-fired heat
treatments. 2007 Key Accomplishments Bonal increased total unit
sales by six percent and has seen strong repeat sales from
customers including Siemens Power, U.S. Navy, Boeing, Caterpillar
and General Electric-Singapore. USA sales were 70 percent, a 15
percent increase from 2006. Foreign sales were 30 percent. Bonal
had dollar sales in 43 states and 17 foreign countries. "In the
fall of 2006, Bonal introduced a software upgrade for its Meta-Lax
sub-harmonic stress relief system Model 2700-CC at the
International Manufacturing Technology Show," said A. George Hebel,
III, chairman of Bonal International. "In addition, Bonal received
CE certification for its computerized Meta-Lax(R) sub-harmonic
stress relief interface console, Model 2725. The CE-approved
product certification ensures our equipment is compatible to
European standards and opens the door to additional growth in the
European market." Bonal is transitioning its rental fleet from
Meta-Lax(R) 1701 semi- automatic systems to the Meta-Lax(R) 2700
computerized systems. "In the coming year, we plan to continue to
enhance our presence in the global marketplace and build Bonal's
reputation and our brand names Meta- Lax(R) Stress Relief, Pulse
Puddle Arc Welding(R) (PPAW(R)) and Black Magic(R) for Distortion
Control," said Hebel. Bonal International Inc. (OTC:BONL), through
its wholly owned subsidiary, Bonal Technologies, Inc., is the
world's leading provider of sub-harmonic technology for metal
improvement solutions with more than 35 years of expertise. Bonal's
patented technology and its three product lines: Meta- Lax(R)
Stress Relief, Pulse Puddle Arc Welding(R) (PPAW(R)) and Black
Magic(TM) for distortion control, are sold in the US and in more
than 49 countries. Headquartered in Royal Oak, Mich., Bonal
provides a variety of services including consulting, training,
program design and metal stress relief services for customers in
the aerospace, armament, die casting, engine building, machine
tool, mining, petroleum, plastic molding, racing, automotive,
shipbuilding and welding industries. More information on Bonal can
be found at http://www.bonal.com/. DATASOURCE: Bonal International,
Inc. CONTACT: Media, Janine M. Krasicky, of J9 Media Solutions LLC,
+1-248-542-3991, +1-248-514-4558 (mobile), for Bonal International,
Inc. Web site: http://www.bonal.com/
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