Bonal International, Inc. Posts Strongest Year-End Results Yet
31 May 2008 - 2:34AM
PR Newswire (US)
Strong Momentum Continues for Fourth Consecutive Year with 53.6
Percent Net Income Increase, 25 Percent Revenue Increase and 84
Percent Shareholder Equity Increase ROYAL OAK, Mich., May 30
/PRNewswire-FirstCall/ -- Bonal International, Inc. (OTC:BONL)
today announced consolidated financial results for the fiscal year
ended March 31, 2008 with strong momentum for the fourth
consecutive year, posting its strongest results in the 24-year
history of the company. In 2008, Bonal reached an all time high in
net sales, which were up 25 percent from last year. In addition,
Bonal increased its gross profit, operating income and net income
significantly more than its increase in sales. In the year ended
March 31, 2008, Bonal International, Inc. again posted a strong set
of results, with net sales up by 25 percent to $2,545,923 and
before tax income at a strong $783,168, compared to a before tax
profit of $490,653 last year. Bonal's healthy profit has increased
stockholder equity by 38 percent, the highest it has been at
$1,468,464 or $0.88 per share. Assets increased 36 percent to
$1,849,550 or $1.11 per share. Working capital increased 38
percent. Net income after tax is $523,168 or $0.31 per share
compared to a net income of $340,653 or $0.21 per share last year,
a per share increase of 47.6 percent. Fourth quarter revenue for
Bonal International increased 23 percent from $607,925 at March 31,
2007 to $747,917 at March 31, 2008. Bonal's fourth quarter net
income is $134,976 up 107% from $65,304 last year. Bonal's per
share net income for the quarter is $0.06 compared to $0.02 last
year. Earnings per share for the year went from $0.21 last year to
$0.31 per share. 4th Quarter ending March 31, 2008 2008 2007
Revenue $747,917 $607,925 Net income 134,976 65,304 Earnings per
share $0.08 $0.04 Fiscal Year ending March 31, 2008 2008 2007
Revenue $2,545,923 $2,031,598 Net income 523,168 340,653 Earnings
per share $0.31 $0.21 "We are pleased to see our profit continue to
increase as it has over the past four years," said A. George Hebel,
III, chairman and president of Bonal International. "It is Bonal's
goal to help our customers become more "green" or environmentally
friendly and lower their carbon footprint while continuing to
increase our 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." 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. 2008 Key Accomplishments Bonal increased
total unit sales by 17 percent and has seen strong repeat customers
to the tune of 25 percent from companies including General Motors,
Baker Oil Tools, Lockheed Martin, Siemens Power, Baykal Makina
(Turkey), CB Carbide (ROC), General Dynamics, Andritz, Cerrejon
Mining (Columbia), Boeing, U.S. Navy, among others. USA sales were
67.6 percent and foreign sales were 32.4 percent. Bonal had dollar
sales in 41 states and 23 foreign countries. Nearly 95 percent of
sales were sold by the in-house sales department. Bonal
International Inc. will hold its annual meeting on Wed., August 6,
2008 for shareholders of record on July 3, 2008 at Bonal's
corporate offices in Royal Oak, Mich. Bonal International Inc.
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 is an environmentally friendly, "green
technology" that replaces some heat treating processes and reduces
energy consumption by 98 percent. Bonal's patented technology and
its three product lines: Meta-Lax(R) Stress Relief, Pulse Puddle
Arc Welding(R) (PPAW(R)) and Black Magic(R) 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. More information on Bonal can be found at
http://www.bonal.com/ or by calling 800-Metal-29. DATASOURCE: Bonal
International, Inc. CONTACT: Janine M. Krasicky of J9 Media
Solutions LLC, +1-248-542-3991, or mobile, +1-248-514-4558, for
Bonal International, Inc. Web site: http://www.bonal.com/
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