Business
Bonal International Reports Twelfth Consecutive Profitable Year Despite Challenging Economy
Bonal International Reports Twelfth Consecutive Profitable Year Despite Challenging Economy.
About this update from Bonal International, Inc.
[{"type":"text","content":"\n\n ROYAL OAK, Mich., July 01, 2016 (GLOBE NEWSWIRE) -- Bonal International, Inc. (OTC:BONL) announces fiscal year 2016 was its twelfth consecutive profitable year.  Bonal posted net income of $202,651, down from $443,162 last year which was positively impacted by a $100,237 insurance policy payout.  Revenue was $2,093,614, down 11.3 percent from last year’s revenue of $2,360,696.  Earnings per share were $0.12 per share, down from last year’s $0.25 per share.  Stockholder’s equity was $1,469,743, down 3.9 percent from $1,529,280 last year.\n “Overall, fiscal year 2016 was good for Bonal International, although not as strong as fiscal year 2015,” said Thomas E. Hebel, chairman.  “Bonal’s net income of $202,651 was 9.7 percent of revenue.  The real story for the year, however, was that this success was accomplished amid a challenging economic environment.  The American Optimism Index declined further into recessionary levels at the same time that the U.S. dollar was increasing in value to a 13-year high.  We sold equipment in 10 foreign countries with Canada buying the most.  Current customers accounted for 42 percent of revenue again this year, which is a testament to their support for our patented Meta-Lax technology.” In fiscal year 2016 the board of directors issued two dividends totaling $0.15 per share, making this the eleventh consecutive year issuing dividends.  Fiscal Year Ending March 31  2016  2015 Revenue$2,093,614 $2,360,696 Net Income$202,651 $443,162 Earnings Per Share  $0.12 $0.25         Bonal International Reports Fourth Quarter Revenue for the fourth quarter was $308,890, a decrease from last year’s $802,176.  The Company posted a small loss of ($24,598), down from last year’s $146,443 net income for the same quarter.   Fourth Quarter Ending March 31  2016  2015 Revenue$308,890 $802,176 Net Income$(24,598)$146,443 Earnings Per Share  $(0.01)$0.08         Bonal International, Inc., through its wholly owned subsidiary, Bonal Technologies, Inc., is the developer and world’s only source for subharmonic vibrat...