Bonal International Reports Third Quarter and Nine Month Results
10 February 2010 - 9:40AM
PR Newswire (US)
Return of Interest in Vibratory Stress Relief May Signal Economic
Recovery of the Metalworking Industry ROYAL OAK, Mich., Feb. 9
/PRNewswire-FirstCall/ -- Bonal International, Inc. (OTC:BONL)
announced a respectable upturn of 29 percent in revenue in the
third fiscal quarter of 2010, ending Dec. 30, with $527,310 in
sales. These sales represented an increase of 29 percent over the
2009 third quarter net revenue. Net Income and earnings per share
were near breakeven, compared to a loss in the third quarter of
last year. "As the metalworking industry makes its comeback,
domestic interest in reliable vibratory stress relief is again
receiving attention," said A. George Hebel, III, CEO and President
of Bonal International. "Bonal continues to spur this interest by
making new customers and displaying the cost, time, and quality
benefits of using Meta-Lax Vibratory Stress Relief." Nine months
revenue is up 5 percent over last year's numbers to $1,434,749.
Purchase incentive discounts have helped Bonal retain level sales
and maintain a stream of new customers, but have impacted earnings,
which are down 37 percent from the first nine months last year.
International sales remained strong during the third quarter with
30 percent of unit volume sales coming from foreign markets. Third
Quarter Ending December 30, 2009
-------------------------------------- 2009 2008 ---- ---- Revenue
$527,310 $408,917 ------- -------- -------- Net Income 4,954
(14,232) ---------- ----- ------- Earnings Per Share 0.00 (0.01)
------------------ ---- ----- Note: This table contains unaudited
results. Nine Months Ending December 30, 2009
------------------------------------ 2009 2008 ---- ---- Revenue
$1,434,749 $1,364,059 ------- ---------- ---------- Net Income
31,152 49,868 ---------- ------ ------ Earnings Per Share 0.02 0.03
------------------ ---- ---- Note: This table contains unaudited
results. In other news, Mr. A. George Hebel, III, co-founder and
president, has announced that after 26 years with the company (and
24 years with the previous parent company) he will be stepping back
from the day to day management on March 31. Mr. Hebel will continue
as a director and non-executive chairman. Mr. Thomas Hebel also a
co-founder and vice president for the last 26 years, will serve as
the interim president until such time as the board of directors
determines George Hebel's successor. Efforts to identify and secure
the appropriate successor are currently underway. Bonal
International, Inc., through its wholly owned subsidiary, Bonal
Technologies, Inc. is the 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 50 countries worldwide. Headquartered in Royal Oak, Mich.,
Bonal services the aerospace, armament, automotive, petroleum, die
casting, mining, racing, machine tool building, plastic molding,
ship building, 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 http://www.bonal.com/ or by calling 1-800-Metal-29.
DATASOURCE: Bonal International, Inc. CONTACT: A. George Hebel,
III, +1-248-582-0900 ext.227, Web Site: http://www.bonal.com/
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