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Investor Information News Releases Financial Statements Request Info Package Management & Directors

WestBond Releases Year-End Financials
July 22nd 2005

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,
Operating Results20052004
$$
restated
Sales5,652,2705,069,320
Cost of sales4,097,6933,518,808
Gross profit1,554,5771,550,512
Selling and marketing expenses486,300443,587
General and administrative expenses696,268657,581
Net income before tax372,009449,344
Income tax expense155,711175,876
Net income216,298273,468
Net income per share, basic and diluted0.020.03
Cash Flows
Operating Activities386,495559,083
Investing Activities(357,990)(824,149)
Financing Activities(48,913)295,747
(Decrease) Increase(20,408)30,681
March 31,
Financial Position20052004
$$
Current assets1,677,3791,306,768
Other assets2,350,0182,138,389
Total assets4,027,3973,445,157
Current liabilities1,267,2281,032,775
Long-term liabilities661,131664,254
Shareholders' equity2,099,0381,748,128




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