Bonal International, Inc. Net Income Increases 23 Percent at Year to Date
November 02 2007 - 3:03PM
PR Newswire (US)
Shareholder Equity Increases 29 Percent ROYAL OAK, Mich., Nov. 2
/PRNewswire-FirstCall/ -- Bonal International, Inc. (OTC:BONL)
today announced 2007 six month and second quarter ending Sept. 30,
2007 unaudited results. Year to date, shareholder equity is up 29%
from last year and six month revenue increased 20%. Net income
increased by 23% at the six month. Net quarterly revenue for Bonal
International decreased 2% from $568,816 at Sept. 30, 2006 to
$558,316 at Sept. 30, 2007. Bonal's net income is $110,864 down 34%
from $168,270 last year. Bonal's per share net income is $0.06
compared to $0.10 last year. Earnings per share to date went from
$0.14 last year to $0.17 per share on Sept. 30, 2007. Although the
quarterly numbers are down, Bonal has $90,000 in open orders at the
end of September 2007, compared to no open orders at the end of
September 2006. Bonal received a large order for a defense
application on the last day of the month. 2nd Quarter ending Sept
30 Title 2007 2006 Revenue $558,316 $568,816 Net income $110,864
$168,270 Earnings per share $0.06 $0.10 Six Months ending Sept. 30,
2007 Title 2007 2006 Revenue $1,203,089 $1,002,334 Net income
$290,723 $237,225 Earnings per share $0.17 $0.14 "We are pleased to
see our profit continue to increase as it has over the past three
years," said A. George Hebel, III, chairman of Bonal International.
"It is our goal to add value for our customers and to continue
increasing shareholder equity." In other news, the Bonal
International Board of Directors recently informed its president
that his employment agreement will not be renewed effective May 1,
2008. The agreement was originally negotiated in 1985 and many of
its terms are no longer applicable or in the best interest of
Bonal. The agreement was terminated in accordance with its terms
and there were no material early termination penalties incurred by
Bonal International, Inc. Negotiations are currently ongoing for a
new agreement which should be in place before May 1. 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 for Bonal International, Inc., +1-248-542-3991,
+1-248-514-4558 (mobile) Web site: http://www.bonal.com/
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