Business
CORRECTION: Bonal International, Inc. Posts Strongest Year-End Results Yet
CORRECTION: Bonal International, Inc. Posts Strongest Year-End Results Yet.
About this update from Bonal International, Inc.
[{"type":"text","content":"Bonal International, Inc. (OTC: BONL) today announced consolidated financial results for the fiscal year ended March 31, 2007 with strong momentum for the third consecutive year, posting its strongest results in the 23-year history of the company. In 2007, Bonal reached an all time high in net sales, which were up 2.5 percent. In addition, Bonal increased its gross profit, operating income and net income significantly more than its increase in sales. In terms of dollars and percentage profit, Bonal topped its sales from 2006, making 2007 its best year. In the year ended March 31, 2007, Bonal International, Inc. again posted a strong set of results, with net sales up by 2.5 percent to $2,031,598 and before tax income at a strong $490,653, compared to a before tax profit of $376,058 last year. Bonal's healthy profit has increased stockholder equity by 33 percent, the highest it has been at $1,061,631 or $0.64 per share. Retained earnings are positive at $459,679, after paying a $0.05 dividend totaling $83,046. Assets increased 26.8 percent to $1,362,238 or $0.82 per share. Working capital increased 39.4 percent. Net income after tax is $340,653 or $0.21 per share compared to a net income of $251,058 or $0.15 per share last year, an increase of 35.7 percent. As the world's leading provider of sub-harmonic vibration technology for metal improvement solutions, Bonal's goal is to help companies keep competitive by reducing operating and energy costs. Bonal's technology helps a variety of industries including aerospace, armament, automotive die casting, engine building, machine tool, mining, petroleum, plastic molding, racing, ship building and welding. Bonal's patented technology and its three product lines include: Meta-Lax? Stress Relief, Pulse Puddle Arc Welding? (PPAW?) and Black Magic? help to reduce energy consumption by 98 percent compared to natural-gas-fired heat treatments. Bonal increased total unit sales by six percent and has seen strong repeat sales from customers including Siemens Power, U.S. Navy, Boeing, Caterpillar and General Electric-Singapore. USA sales were 70 percent, a 15 percent increase from 2006. Foreign sales were 30 percent. Bonal had dollar sales in 43 states and 17 foreign countries. \"In the fall of 2006, Bonal introduced a software upgrade for its Meta-Lax sub-harmonic stress relief system Model 2700-C...