WestBond Enterprises' net income for the three months ended June 30, 2003, was $76,431, or one cent per share. This is approximately 10 per cent higher than projected for the period and approximately the same as for the same period last year.
Sales for the period totalled $1,140,210 compared with $798,788 for the same period last year, representing an increase of 43 per cent. Personal hygiene products make up most of the increase in sales.
The focus for the next six months will be to increase distribution and sales for all product categories, but mainly the personal hygiene line.
The following summary financial information has been extracted from the consolidated financial statements for the three months ended June 30, 2003.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
FINANCIAL RESULTS
Three months ended June 30
2003 2002
Sales $ 1,140,210 $ 798,788
Gross profit 348,943 297,551
Selling
expenses 91,949 54,088
General and
administrative
expenses 137,451 123,160
Income
before tax 119,543 120,303
Future income
tax expense 43,112 43,273
Net income 76,431 77,030
Net income
per share 0.01 0.01
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