Worldwide Energy and Manufacturing USA, Inc. (WEMU.OB) Clarifies and Reaffirms Guidance for FY 2009

In the company’s news yesterday,

Worldwide Energy and Manufacturing USA, Inc.’s management clarified and reaffirmed guidance for the 2009 fiscal year ending December 31, 2009.

Jimmy Wang, chief executive officer of Worldwide Energy and Manufacturing USA, Inc., stated, “The Company reaffirms guidance previously provided in our November 5, 2009, third-quarter earnings conference call that we expect annual revenues of at least $60 million and an EBITDA of $2.8 million for fiscal year 2009.”

Wang added, “Our solar division expects to ship orders totaling at least 10 megawatts, representing approximately $20 million in revenues, in the fourth quarter of 2009. Additionally, our contract manufacturing division should create at least $3 million in revenues for the quarter. This would bring our total fiscal year 2009 revenues in excess of $60 million. Fiscal year 2009 earnings would come in at about $1.8 million, which results in net earnings per share of $0.50 on a fully diluted basis.

“We continue to see increasing sales growth from the existing and a number of new customers and improving margins from ramping up production at our solar manufacturing facility in China. We expect a strong fourth quarter and continued growth in our solar division, which comprised 83% of our sales in the third quarter. We are encouraged by our progress and continued strong sales performance,” he concluded.

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