Bonal International, Inc. Sales Decrease 21 Percent at Year to Date
13 November 2008 - 3:28AM
PR Newswire (US)
Net Income Effectively a Break Even ROYAL OAK, Mich., Nov. 12
/PRNewswire-FirstCall/ -- Bonal International, Inc. (OTC:BONL)
today announced 2008 six month and second quarter ending Sept. 30,
2008 unaudited results. Bonal's six month year-to-date revenue is
down 21%. Second quarter sales are down 37% over last year to
$353,191 and profit was effectively a break even at $764.00, which
is down from $110,864 last year. During the quarter, Bonal
International paid out $174,792 in dividends and cash on hand is
still up from last year. Bonal's per share net income is $0.00
compared to $0.06 last year. Earnings per share for the six month
period went from $0.17 last year to $0.04 per share on Sept. 30,
2008. "Equipment sales are down due to the nervousness in the
industry because of the financial crises," said A. George Hebel,
III, chairman of Bonal International. "Despite the economic
conditions, the metalworking industry continues to use our
technology. Companies are holding back on purchases, but are now
renting instead, providing a big boost to Bonal's sales from
rentals. To respond, Bonal has added some units to its rental
fleet." 2nd Quarter ending Sept 30 2008 2007 Revenue $353,191
$558,316 Net income $764.00 $110,864 Earnings per share $0.00 $0.06
Six Months ending Sept. 30, 2008 2008 2007 Revenue $955,142
$1,203,089 Net income $64,100 $290,723 Earnings per share $0.04
$0.17 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 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 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: 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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