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WestBond Announces December 2004 Interim Financials
February 17th 2005

WestBond Enterprises Corporation ("WestBond") announces that net income for the nine months ended December 31, 2004 was $165,638, or $0.017 per share.

Sales for the period totalled $4,149,694, compared to $3,795,403 for the same period last year, representing an increase of 9%. Sales of long-term care and personal hygiene products make up the increase, while clinical, airline and other product categories decreased. Sales in all categories, other than airline products, were hampered by temporary, cyclical paper shortages during the quarter ended December 31, 2004. The peak of the cycle appears to be over and fewer shortages are anticipated over the next several months. WestBond is increasing paper inventories to lessen the impact of future shortages.

The following summary financial information has been extracted from the interim consolidated financial statements for the three and nine month periods ended December 31, 2004, which are available on The comparative figures for 2003 have been restated for the retroactive change in accounting policy for employee and director stock options required by new accounting regulations.

Three months ended
December 31
Nine months ended
December 31
Operating results$$$$
Sales 1,268,7521,349,6914,149,6943,795,403
Gross profit321,141412,5961,176,3471,164,780
Selling expenses107,655123,061365,509326,699
General and administrative expenses164,201170,618527,350489,633
Income before tax49,285118,917283,488348,448
Future income tax expense24,45847,485117,850136,385
Net income24,82771,432165,638212,063
Net income per share0.0020.0070.0170.021
Cash Flows
Operating activities8,485157,345336,305346,111
Investing activities(42,336)(95,147)(310,305)(618,208)
Financing activities32,504 (20,206)(46,317)316,838
(Decrease) increase(1,347)41,99(20,317)44,741

December 31
March 31
Financial Position$$
Current assets1,338,7221,306,768
Plant and equipment2,340,0932,138,389
Total assets3,678,8153,445,157
Current liabilities980,4371,032,775
Term loans399,972512,481
Future income tax liabilities269,623151,773
Shareholders' equity2,028,7831,748,128

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