ROYAL OAK (WWJ) -- Bonal International Inc. (OTC: BONL) announced first quarter revenue of $519,077, up 23 percent from last year's $422,605.
Net income was $54,544, an increase of 52 percent from $35,956 last year. Earnings per share increased to 3 cents from 2 cents last year.
Bonal's first fiscal quarter ended June 30.
"This is a nice start to the new fiscal year," said A. George Hebel, Chairman of Bonal International, Inc. "We continue to see an increase in companies who are contacting us for the first time to take advantage of the benefits the Meta-Lax technology provides."
During the quarter new customer sales accounted for 61 percent of sales by volume. Total unit sales were up 29 percent over last year's first quarter.
Bonal International Inc., through its subsidiary, Bonal Technologies Inc. is the 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 54 countries worldwide.
Headquartered in Royal Oak, Bonal serves the aerospace, armament, automotive, petroleum, die casting, mining, racing, machine tool building, mold making, ship building, and welding industries.
Bonal's Meta-Lax technology is used for eliminating thermal stress in metal parts, preventing warping and cracking, at a fraction of the time, energy, and monetary costs of competing technologies.
More information can be found at www.bonal.com or by calling (800) Metal-29.
for more features.