WestBond Enterprises Corporation ("WestBond") is pleased to announce that it has filed its consolidated financial statements for the year ended March 31, 2005. Sales increased 11.5% over last year. Increased paper costs resulted in lower profits than expected.
WestBond is now finishing the installation of the last of the machines needed to provide a comprehensive personal hygiene paper product line and expects significant increases in sales over the next several months, and years.
The following summary financial information has been extracted from WestBond's consolidated financial statements for the year ended March 31, 2005. The operating results for the year ended March 31, 2004 have been restated to reflect a new accounting policy for stock options. Investors are encouraged to read the full financial statements, including the notes thereto, the auditors' report thereon, and management's discussion and analysis, which are all available on www.SEDAR.com and on the company's web-site at www.WestBond.ca. Please contact WestBond if you would like a printed copy.
| ||Years ended March 31,|
| || ||restated|
|Cost of sales||4,097,693||3,518,808|
|Selling and marketing expenses||486,300||443,587|
|General and administrative expenses||696,268||657,581|
|Net income before tax||372,009||449,344|
|Income tax expense||155,711||175,876|
|Net income per share, basic and diluted||0.02||0.03|
| ||March 31,|