WestBond Enterprises Corp. has earned net income for the six months ended Sept. 30, 2005, of $117,552, or 1.1 cents per share.
Sales for the period totalled $3,079,285, compared with $2,880,942 for the same period last year, representing an increase of 7 per cent. 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- and six-month periods ended Sept. 30, 2005, which are available on SEDAR.
FINANCIAL HIGHLIGHTS
Three months ended Sept. 30
2005 2004
Operating
results
Sales 1,487,265 1,533,592
--------- ---------
Gross
profit 369,377 448,834
Selling
expenses 126,393 138,003
General and
administrative
expenses 175,424 205,082
--------- ---------
Income
before tax 67,560 105,749
Income tax 31,423 46,028
--------- ---------
Net income 36,137 59,721
========= =========
Net income
per share 0.004 0.006
========= =========
Cash flows
Operating
activities 346,168 103,937
Investing
activities (557,339) (90,676)
Financing
activities 268,043 (119,006)
--------- ---------
Increase
(decrease) 56,872 (105,745)
========= =========
FINANCIAL HIGHLIGHTS
Six months ended Sept. 30
2005 2004
Operating
results
Sales 3,079,285 2,880,942
--------- ---------
Gross
profit 804,564 855,206
Selling
expenses 263,237 257,854
General and
administrative
expenses 337,748 363,149
--------- ---------
Income
before tax 203,579 234,203
Income tax 86,027 93,392
--------- ---------
Net income 117,552 140,811
========= =========
Net income
per share 0.011 0.014
========= =========
Cash flows
Operating
activities 331,493 327,820
Investing
activities (642,000) (267,969)
Financing
activities 352,578 (78,821)
--------- ---------
Increase
(decrease) 42,071 (18,970)
========= =========
FINANCIAL POSITION
Sept. 30, March 31,
2005 2005
Current
assets 1,534,963 1,677,379
Plant
and equipment 2,905,906 2,350,018
--------- ---------
Total assets 4,440,869 4,027,397
Current
liabilities 1,163,638 1,267,228
Term loans 657,891 362,469
Future income
tax liabilities 363,559 298,662
--------- ---------
Shareholders'
equity 2,255,781 2,099,038
========= =========
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