WestBond Enterprises' net income for the three months ended Sept. 30, 2003, was $81,818, or one cent per share. This is 310 per cent higher than for the same period last year. Net income for the six months ended Sept. 30, 2003, was $158,249, or two cents per share. This is 63 per cent higher than for the same period last year.
Sales for the quarter were $1,305,502 compared with $946,220 last year, an increase of 38 per cent. Sales for the six months ended Sept. 30, 2003, totalled $2,445,712, compared with $1,745,008 for the same period last year, an increase of 40 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 interim unaudited consolidated financial statements for the three- and six-month periods ended Sept. 30, 2003, which are available on SEDAR.com or from WestBond.
FINANCIAL HIGHLIGHTS
Three months ended Sept. 30
2003 2002
Operating results
Sales 1,305,502 946,220
Gross profit 403,902 269,815
Selling expenses 111,689 82,046
General and
administrative
expenses 164,607 153,480
Income before tax 127,606 34,289
Future income
tax expense 45,788 14,370
Net income 81,818 19,919
Net income
per share 0.01 0.00
FINANCIAL HIGHLIGHTS
Six months ended Sept. 30
2003 2002
Operating results
Sales 2,445,712 1,745,008
Gross profit 752,845 567,366
Selling expenses 203,638 136,134
General and
administrative
expenses 302,058 276,640
Income before tax 247,149 154,592
Future income
tax expense 88,900 57,643
Net income 158,249 96,949
Net income
per share 0.02 0.01
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