ROYAL OAK, Mich., Nov. 16, 2015 (GLOBE NEWSWIRE) -- Bonal International, Inc., (OTC:BONL) announced revenue results of $554,057 for the second quarter which ended September 30, 2015. This total is a 27.4 percent increase from last year’s second quarter of $434,857. Net income for the second quarter more than doubled to $62,552, from last year’s net income of $28,190 for the same quarter and represented a solid 11.3 percent profit for the quarter. Earnings per share were $0.04 per share in the second quarter of fiscal year 2016 compared to $0.02 per share for the second quarter of last year.
“Nearly 43 percent of our revenue was generated from sales in six foreign countries,” said Thomas E. Hebel, chairman. “This figure is nearly double the activity from foreign markets compared to last quarter.”
Year-to-date results for the six months that ended September 30, 2015 were strong. Revenue was up 18.9 percent to $1,252,436 from $1,053,002 in 2014. Net income was up 51.0 percent to $208,767 from last year’s $138,244 over the same period. Profit for Bonal was strong at 16.7 percent for the first six months. Earnings per share were correspondingly strong at $0.12 compared to $0.08 last year.
During the second quarter the board of directors authorized a dividend of $0.10 per share which matched the highest single dividend paid by the Company. This is the eighteenth dividend paid by Bonal during the last eleven consecutive fiscal years.
| Second Quarter Ended September 30, | ||||||
| 2015 | 2014 | |||||
| Revenue | $ | 554,057 | $ | 434,857 | ||
| Net Income | $ | 62,552 | $ | 28,190 | ||
| Net Income Percentage | 11.3 | % | 6.5 | % | ||
| Earnings Per Share | $ | 0.04 | $ | 0.02 | ||
| Six Months Ended September 30, | ||||||
| 2015 | 2014 | |||||
| Revenue | $ | 1,252,436 | $ | 1,053,002 | ||
| Net Income | $ | 208,767 | $ | 138,244 | ||
| Net Income Percentage | 16.7 | % | 13.1 | % | ||
| Earnings Per Share | $ | 0.12 | $ | 0.08 | ||
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 services 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.