Westbond Enterprises Corporation

Symbol: WBE.V
Bid: 0.10 Ask: 0.12
Last:0.11 Change: 0.00

Volume: 80000 Trades: 2
Open: 0.11 Hi: 0.11 Low: 0.11

Year High: 0.20 Year Low: 0.10
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Management & Directors

WestBond Announces June 2004 Interim Financials

August 25th 2004

WestBond Enterprises Corporation (“WestBond”) is pleased to announce that net income for the three months ended June 30, 2004 was $81,090, or $0.008 per share. This is approximately 23% higher than for the same period last year.

Sales for the period totalled $1,347,350, compared to $1,140,210 for the same period last year, representing an increase of 18%. Sales of long-term care, clinical and personal hygiene products make up the increase.
The following summary financial information has been extracted from the interim consolidated financial statements for the three months ended June 30, 2004, which are available on www.sedar.com. The comparative figures for the three months ended June 30, 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 June 30,
	2004	2003
Operating results	$	$
Sales	1,347,350	1,140,210
Gross profit	406,372	348,613
Selling expenses	119,851	91,949
General and administrative expenses	158,067	147,361
Income before tax	128,454	109,303
Future income tax expense	47,364	43,112
Net income	81,090	66,191
Net income per share	0.008	0.007
Cash Flows
Operating activities	223,883	94,676
Investing activities	(177,293)	(46,924)
Financing activities	40,185	(56,530)
(Decrease) increase	86,775	(8,778)
Financial Position	June 30, 2004 $	March 31, 2004 $
Current assets	1,334,623	1,306,768
Plant and equipment	2,281,830	2,138,389
Total assets	3,616,453	3,445,157
Current liabilities	1,042,799	1,032,775
Term loans	474,978	512,481
Future income tax liabilities	199,137	151,773
Shareholders’ equity	1,899,539	1,748,128