Worldwide Energy & Manufacturing USA, Inc. (WEMU.OB) Anticipates 165% Increase in 2010 Revenues; Continued Growth in 2011

QualityStocks would like to highlight Worldwide Energy and Manufacturing USA Inc. (OTCBB: WEMU) headquartered in South San Francisco, California, a 17-year-old engineering-oriented and quality control firm specializing in photovoltaic (PV) panel, mechanical, electronics and fiber optic products manufacturing for the solar, aerospace, telecom, medical equipment, and automotive sectors.

In the company’s news yesterday,

Worldwide Energy & Manufacturing USA, Inc. reiterated its fiscal 2010 revenue guidance at the high end of its $160 to $165 million range, which would represent an increase of approximately 165% over the previous year. The company also stated that it anticipates growth to continue within its PV modules division in 2011.

“We see continued international demand for our Amerisolar modules in 2011, particularly in Europe; as government incentives help to further spur the use of clean solar energy,” stated Jimmy Wang, CEO of Worldwide. “With grid power costs rising and the cost of solar continuing to fall, we anticipate strong multi-year growth in our industry as new markets around the world, particularly the U.S. and China, continue to adopt PV energy solutions over the next several years. We are positioning our Solar Division to take advantage of the worldwide growth we see by aggressively growing our customer base and maintaining one of the most competitive cost structures in the industry.”

Mr. Wang continued, “Our 2010 revenue estimate is the result of the strong international demand for PV solar systems we have been experiencing, most notably from Europe. Going forward, we expect our new facility in Nantong, China to further advance the development of our business as we take advantage of the cost advantages of this new facility.”

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