WestBond Enterprises Corporation ("WestBond") is pleased to announce that net income for the three months ended December 31, 2006 was $19,844, or $0.002 per share. The following summary financial information has been extracted from the interim consolidated financial statements for the three and nine month periods ended December 31, 2006, which are available from the Company's website at www.westbond.ca and on www.sedar.com. | Three months ended
December 31 | Nine months ended
December 31 | | 2006 | 2005 | 2006 | 2005 | | Operating results | $ | $ | $ | $ | | Sales | 1,580,121 | 1,598,479 | 4,877,357 | 4,677,764 | | Gross profit | 356,838 | 383,833 | 1,183,813 | 1,188,397 | | Selling expenses | 173,794 | 172,196 | 548,325 | 435,433 | | General and administrative expenses | 151,671 | 182,250 | 501,316 | 519,998 | | Income before tax | 31,373 | 29,387 | 134,172 | 232,966 | | Income tax | 11,529 | 16,858 | 54,253 | 102,885 | | Net income | 19,844 | 12,529 | 79,919 | 130,081 | | Earnings per share | 0.002 | 0.001 | 0.008 | 0.013 | | Cash Flows | | Operating activities | (43,993) | 157,977 | 36,852 | 489,470 | | Investing activities | (14,998) | (118,940) | (115,287) | (760,940) | | Financing activities | 91,865 | (41,310) | 90,754 | 311,268 | | Increase (decrease) | 33,874 | (2,273) | 12,319 | 39,798 | | | | Financial Position | December 31
2006
$ | March 31
2006
$ | | Current assets | 1,956,186 | 1,937,741 | | Plant and equipment | 2,954,930 | 3,014,802 | | Total assets | 4,911,116 | 4,952,543 | | Current liabilities | 1,739,471 | 1,748,140 | | Term loans | 352,161 | 535,599 | | Future income tax liabilities | 438,921 | 384,668 | | Shareholders' equity | 2,380,563 | 2,284,136 | WestBond confirms that it has filed its Disclosure of Corporate Governance Practices on February 23, 2007 as an "Other" (Management Proxy Materials) filing. WestBond is a producer of high quality disposable paper products marketed through medical and industrial distributors and operates a manufacturing facility in Delta, British Columbia, Canada. |