ROYAL OAK, Mich., March 14, 2011 /PRNewswire/ -- Bonal
International, Inc. (OTC: BONL) announced significant increases in
the third quarter ending December 31,
2010. Net income for the third quarter was
$109,855, an increase of $104,901 over last year's results with earnings
per share at $0.06. Third
quarter revenue was up dramatically at $619,500, a 17.5 percent increase from last year.
The nine months year-to-date numbers were also impressive with net
income of $344,673, a striking
increase over last year's nine month total of $31,152. The nine month earnings per share
were $0.20. This was based on
revenues of $1,692,172, a 17.9
percent increase over last year's nine month report.
"In this quarter we saw foreign sales nearly match domestic
sales activity," said Thomas E.
Hebel, interim president and CEO of Bonal Technologies, Inc.
"Foreign sales accounted for 48 percent of our sales volume,
up from 28 percent in the first six months. The value of the
U.S. dollar has steadily decreased since June 2010, making buying our products easier for
foreign customers, especially in this quarter."
"We saw the sales for all three of Bonal's product lines
increase compared with last year," Hebel said.
This is the third quarter with Bonal under the leadership of
interim President Thomas E. Hebel.
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Third
Quarter Ending December 31,
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2010
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2009
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Revenue
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$619,500
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$527,310
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Net Income
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109,855
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4,954
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Earnings Per
Share
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0.06
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0.00
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Note: This table contains
unaudited results.
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Nine Months
Ending December 31,
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2010
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2009
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Revenue
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$1,692,172
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$1,434,749
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Net Income
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344,673
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31,152
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Earnings Per
Share
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0.20
|
0.02
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Note: This table contains
unaudited results.
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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 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 www.Bonal.com or by calling 1-800-Meta-Lax.
SOURCE Bonal International, Inc.