Business
Bonal International Reports Thirteenth Consecutive Profitable Year Led by Fourth Quarter Surge
Bonal International Reports Thirteenth Consecutive Profitable Year Led by Fourth Quarter Surge.
About this update from Bonal International, Inc.
[{"type":"text","content":"\n\n ROYAL OAK, Mich., July 05, 2017 (GLOBE NEWSWIRE) -- Bonal International, Inc. (OTC:BONL) announces fiscal year 2017 was its thirteenth consecutive profitable year.  Bonal posted net income of $54,357, compared to $202,651 last year.  Revenue was $1,610,471, off 23.1 percent from last year’s revenue of $2,093,614.  Earnings were $0.03 per share, off from last year’s $0.12 per share.  Stockholders’ equity declined slightly to $1,454,183, or 1.1 percent, from $1,469,743 last year.\n “Just as our country went through an interesting and challenging last 12 to 16 months, Bonal International followed suit,” said Thomas E. Hebel, chairman.  “It has not been an easy road, but the good news is we were profitable, persevered through unusual economic conditions, paid dividends, and set ourselves up to have a great recovery.  In the first half of the fiscal year the small business optimism index dropped another two points on average from its previous recessionary levels and the value of the US dollar reached a 14 year high.   This indicated that the metalworking market, both domestic and international, was reluctant to spend money on capital equipment.  Looking forward, I see very positive signs.  The small business optimism index has rebounded strongly since November, and our new computerized system, after a year-long delay, is expected to be on the market by the end of the second quarter of fiscal year 2018.” Bonal’s current customers accounted for 55 percent of sales by volume.  This very high level of customer support demonstrates the value and confidence that Bonal’s customers place on its patented Meta-Lax® technology and equipment.   Two of the more notable companies that bought Meta-Lax® equipment this year included TigerCat and Bombardier.  In fiscal year 2017, the board of directors issued one dividend for $0.04 per share, making this the twelfth consecutive year issuing dividends. Fiscal Year Ending March 31  2017 2016Revenue$1,610,471$2,093,614Net Income$54,357$202,651Earnings Per Share$0.03$0.12 Revenue for the fourth quarter was $419,088, up 35.7 percent from last year’s $308,890.  Net income was $64,278, up from last year’s loss of $24,598 over the same quart...