Bonal International, Inc. Year-End Sales Increase 31 Percent with Record Profit
ROYAL OAK, Mich., June 27, 2006 - Bonal International, Inc. (OTC: BONL) today announced consolidated financial results for the fiscal year ended March 31, 2006 with its second consecutive year of record profit. Net sales increased 31 percent and totaled $1,982,072, from $1,511,431 in the previous year. Before tax net income came in at a strong $376,058, or $0.22 per share, which is 19 percent of net sales compared to a before tax profit of $305,787 or $0.18 per share last year.
Net income after tax is $251,058 or $0.15 per share compared to a profit of $239,787 or $0.14 per share last year. As a result of Bonal's healthy profit, stockholder equity is up 28 percent, at $798,024 or $0.47 per share. Retained earnings are positive at $193,072, after paying a $0.04 dividend totaling $66,996. Assets increased 24 percent to $1,074,561 or $0.64 per share.
"In terms of dollars, Bonal topped its record from 2005, making 2006 our best year. The US economy continues to be strong and lower USD rates helped to increase our sales in both the domestic and the overseas markets," said A. George Hebel, III, chairman of Bonal International. "In 2006, we invested in new product development to create third generation software for operating Meta-Lax equipment with computers."
Bonal has seen strong repeat sales coming from companies such as Siemens Westinghouse, Howmet/Alcoa, Lawrence Berkley National Laboratory and Cincinnati, Inc.
Bonal paid its first dividend in August 2005 of $0.04 per share and trading activity increased. In the 52 week period between April 1, 2005 to March 31, 2006, Bonal had a low share sale price of $0.05 and a high share sale price of $2.98.
Bonal had sales of equipment or services in 40 states and 18 foreign countries. The company also added two new foreign agents in South Africa and Sweden to continue expansion in foreign markets.
"We were contracted to use Meta-Lax to stress relieve the motor mounts for the side thrusters from an offshore drilling rig. The repair welding and stress relief were underway, 50 miles south of New Orleans, when Hurricane Katrina hit. The entire operation was moved by barge to Port Arthur, Texas where they still had electrical power," said Hebel. "Then hurricane Rita hit Port Arthur on September 24. The three-week project took 10 weeks to complete, making this our largest service contract."
Bonal Technologies, Inc., a subsidiary of Bonal International, Inc. (OTC: BONL) is the world's leading provider of sub-harmonic technology for metal improvement solutions with more than 35 years of expertise. Bonal's patented technology and its three product lines: Meta-Lax® Stress Relief, Pulse Puddle Arc Welding® (PPAW®) and Black Magic(TM) for distortion control, are sold in the US and in more than 49 countries. Headquartered in Royal Oak, Mich., Bonal provides a variety of services including consulting, training, program design and metal stress relief services for customers in the aerospace, armament, die casting, engine building, machine tool, mining, petroleum, plastic molding, racing, automotive, shipbuilding and welding industries. More about Bonal can be found at www.bonal.com.
Bonal Technologies, Inc. 1300 North Campbell Road l Royal Oak, MI 48067 l USA
Voice: (248) 582-0900 or 800 Metal-29 l Fax: (248) 582-0901 l info@bonal.com l www.bonal.com
Janine Krasicky
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