Bonal International, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015
February 12, 2016 at 09:33 am EST
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Bonal International, Inc. announced earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, the company reported revenue of $532,288, a 5.3% increase over $505,519 for last year's third quarter. Net income was $18,482, or 3.5% of net sales, making it the seventh consecutive profitable quarter. Net income for the third quarter was down from last year's third quarter of $158,475 which was positively affected by insurance proceeds of $100,237. Earnings per share were $0.01, down from $0.09 in last year's third quarter.
For the nine months, revenue was up 14.5% to $1,784,723, from $1,558,520 over the same period in fiscal year 2015. Net income was down 23.4% to $227,249, at 12.7% of net sales, from last year's $296,718. Earnings per share were $0.13 compared to $0.17 for last year. The nine months net income and earnings per share figures from last year were also affected by the insurance proceeds.
Bonal International, Inc. provides a complete variety of consulting, training, program designing and metal stress relief services to several industries, including automotive, aerospace, mining, petroleum, shipbuilding, welding, machine tooling, plastic molding, racing, engine building, armament, and die casting. The Company's patented technology and its three distinct product lines include Meta-Lax Stress Relief, Pulse Puddle Arc Welding (PPAW) and Black Magic. It sells its products throughout the United States and in 64 foreign countries. Meta-Lax equipment is the Companyâs main product line. The Meta-Lax equipment can be used to stress relieve metal work pieces in place of heat treat stress relief and/or can be used during welding. Its facility has a storage capacity of approximately 9,000 pallets. Its Meta-Lax equipment includes Series 2000, Series 2400 and Series 2800.
BONAL INTERNATIONAL, INC. 