ROYAL OAK, Mich., Feb. 15, 2019 (GLOBE NEWSWIRE) -- Bonal International, Inc., (OTC: BONL) announced revenue results of $341,345 for the third quarter which ended December 31, 2018. This was a 41.3 percent drop from last year’s third quarter. Net income for the third quarter was a slight loss of $4,879, down from last year’s third quarter’s net income of $68,467. Earnings per share for the third quarter were breakeven at $0.00, down from last year’s third quarter earnings of $0.04 per share.
“The quarter reflected the global economic uncertainty of Brexit and tariff negotiations,” said Thomas E. Hebel, chairman. “Add to this was the fact that the strength of the U.S. dollar was at its highest for the year, 10 percent higher than the beginning of the year. As a result, international sales were depressed by more than half. However, during the quarter sales from our trade show efforts accounted for 57 percent of our sales by volume, up from a 14 percent average. Lockheed-Martin was among the companies that acquired Bonal’s patented Meta-Lax® stress relief equipment during the quarter.”
Year-to-date revenue was $1,198,032, down 30.6 percent from last fiscal year’s first nine-month period. Net income for the nine months was a $19,548, down from last year’s $231,099 net income over the same period.
| Third Quarter Ended December 31, | ||
| 2018 | 2017 | |
| Revenue | $341,345 | $581,603 |
| Net Income | ($4,879) | $68,467 |
| Earnings Per Share | $0.00 | $0.04 |
| Nine Months Ended December 31, | ||
| 2018 | 2017 | |
| Revenue | $1,198,032 | $1,725,162 |
| Net Income | $19,548 | $231,099 |
| Earnings Per Share | $0.01 | $0.13 |
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.
| Contact: | Thomas E. Hebel | |||
| Toll Free: | 800.638.2529 ext.236 | |||
| International: | 248.582.0900 ext.236 | |||
| Email: | thebel@bonal.com |
