Royal Oak-based Bonal International Inc. (OTC: BONL) last week announced consolidated financial results for the fiscal year ended March 31. Despite the challenging economic times in the manufacturing sector, Bonal announced modest net income.
In the fiscal year ended March 31, Bonal posted net sales of $1,696,878 compared to $2,545,923 in 2008. Net income after tax is $30,109 and earnings per share of one cent, $523,168 or 31 cents a share last year.
Fourth quarter revenue for Bonal International was $332,618, down from $747,917 a year earlier. The company posted a loss of $24,178 or 1 cent a share in the quarter, compared to net income of $134,976 or 8 cents a share a year earlier.
“As we move into fiscal year 2010, Bonal’s goal is to continue to position the company for growth once the economy recovers," said George Hebel III, chairman and president.
As the world’s leading provider of sub-harmonic vibration technology for metal improvement, Bonal’s goal is to help companies keep competitive by reducing operating and energy costs.
Bonal’s technology helps manufacturers become more “green” or environmentally friendly and lower their carbon footprint while continuing to increase shareholder value. Bonal’s patented technology and its product lines Meta-Lax Stress Relief, Pulse Puddle Arc Welding (PPAW) and Black Magic can help to reduce energy consumption by 98 percent compared to natural-gas-fired heat treatments as shown by research conducted by the U.S. Department of Energy.
E-Mail Story
Print Story
