ROYAL OAK -- Bonal International Inc. (OTC: BONL), the developer of metal strengthening technology that's a greener competitor to heat treating, reported continued increases in net income, revenue, and earnings per share for the second fiscal quarter ending Sept. 30.
Net income increased to $175,700, a new record and a 58 percent increase, while revenue grew to $672,651, another new record and a 24 percent increase compared to last year's second quarter.
Earnings per share rose to 10 cents, a record for the second quarter marking a 67 percent increase.
For the six months, revenue rose to $1.2 million, up 16 percent from a year earlier and a new record. The six month net income was $265,154, an increase of 13 percent over last year's results. Likewise, the six month earnings grew to 15 cents a share, an increase of 15 percent from last year's six month results.
"During the second quarter we saw a huge increase in the number of current customers buying upgraded Meta-Lax stress relief equipment," said Thomas E. Hebel, interim president and CEO of Bonal Technologies Inc. "The amount of repeat sales clearly highlights that our customers appreciate the benefits gained from using Meta-Lax and want to enhance their results. Nearly half of our sales by volume this quarter came from our new touch-screen system, the model 2400."
Bonal International, through its subsidiary Bonal Technologies Inc., provides 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.
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, thereby preventing warping and cracking, at a fraction of the time, energy, and monetary costs of competing technologies.
More at www.bonal.com.
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