Bonal International, Inc. Year-End Sales Increase 31 Percent with Record Profit
June 27 2006 - 12:37PM
PR Newswire (US)
ROYAL OAK, Mich., June 27 /PRNewswire-FirstCall/ -- Bonal
International, Inc. (OTC:BONL) today announced consolidated
financial results for the fiscal year ended March 31, 2006 with its
second consecutive year of record profit. Net sales increased 31
percent and totaled $1,982,072, from $1,511,431 in the previous
year. Before tax net income came in at a strong $376,058, or $0.22
per share, which is 19 percent of net sales compared to a before
tax profit of $305,787 or $0.18 per share last year. Net income
after tax is $251,058 or $0.15 per share compared to a profit of
$239,787 or $0.14 per share last year. As a result of Bonal's
healthy profit, stockholder equity is up 28 percent, at $798,024 or
$0.47 per share. Retained earnings are positive at $193,072, after
paying a $0.04 dividend totaling $66,996. Assets increased 24
percent to $1,074,561 or $0.64 per share. "In terms of dollars,
Bonal topped its record from 2005, making 2006 our best year. The
US economy continues to be strong and lower USD rates helped to
increase our sales in both the domestic and the overseas markets,"
said A. George Hebel, III, chairman of Bonal International. "In
2006, we invested in new product development to create third
generation software for operating Meta-Lax equipment with
computers." Bonal has seen strong repeat sales coming from
companies such as Siemens Westinghouse, Howmet/Alcoa, Lawrence
Berkley National Laboratory and Cincinnati, Inc. Bonal paid its
first dividend in August 2005 of $0.04 per share and trading
activity increased. In the 52 week period between April 1, 2005 to
March 31, 2006, Bonal had a low share sale price of $0.05 and a
high share sale price of $2.98. Bonal had sales of equipment or
services in 40 states and 18 foreign countries. The company also
added two new foreign agents in South Africa and Sweden to continue
expansion in foreign markets. "We were contracted to use Meta-Lax
to stress relieve the motor mounts for the side thrusters from an
offshore drilling rig. The repair welding and stress relief were
underway, 50 miles south of New Orleans, when Hurricane Katrina
hit. The entire operation was moved by barge to Port Arthur, Texas
where they still had electrical power," said Hebel. "Then hurricane
Rita hit Port Arthur on September 24. The three-week project took
10 weeks to complete, making this our largest service contract."
Bonal Technologies, Inc., a subsidiary of Bonal International, Inc.
(OTC:BONL) 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(TM) 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 about Bonal
can be found at http://www.bonal.com/ . DATASOURCE: Bonal
International, Inc. CONTACT: Janine M. Krasicky of J9 Media
Solutions LLC, +1-248-542-3991, mobile: +1-248-514-4558, for Bonal
International, Inc. Web site: http://www.bonal.com/
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