ROYAL OAK, Mich., Feb. 14, 2017 (GLOBE NEWSWIRE) -- Bonal International, Inc. BONL announced today third quarter unaudited results ending December 31, 2016. Revenue for the third quarter was $393,298, down twenty six percent from last year's third quarter of $532,288. Net loss for the quarter was a small loss of $5,060 compared with last year's small gain of $18,482 net income for the same quarter.
"During the quarter, Bonal focused on expanding market awareness for our patented process," said Thomas E. Hebel, President and CEO of Bonal International, Inc. "Sixty-two percent of our sales by volume were from new businesses. Additionally, we expanded our international presence by signing a foreign agent to represent Bonal in Norway, Sweden, and Denmark."
| Third Quarter Ending December 31 | |||||
| 2016 | 2015 | ||||
| Revenue | $ | 393,298 | $ | 532,288 | |
| Net Income | $ | (5,060 | ) | $ | 18,482 |
| Net Earnings Per Share | $ | 0.00 | $ | 0.01 | |
Revenue for the nine months ending December 31, 2016 was down thirty-three percent to $1,191,383 from $1,784,723 over the same period in fiscal year 2016. The nine months year-to-date net income was a slight loss of $9,920 down from last year's net income of $227,249 over the same period.
| Nine Months Ending December 31 | |||||
| 2016 | 2015 | ||||
| Revenue | $ | 1,191,383 | $ | 1,784,723 | |
| Net Income | $ | (9,920 | ) | $ | 227,249 |
| Net 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
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