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Worldwide Energy and Manufacturing USA Inc. (WEMU.OB) Issues Positive Corporate Update for Q2

|Includes: Worldwide Energy & Manufacturing USA, Inc. (WEMU)

Worldwide Energy and Manufacturing USA Inc., a U.S.-based China manufacturing company, operates through its subsidiaries to offer products for customers the solar energy, aerospace, wireless telecommunications, medical equipment and automotive industries. The company today issued a corporate update for the second quarter ended June 30, 2010.

The company reported its revenue expectations for the second quarter to exceed $30 million, up 200 percent from the same period of 2009.

Sales for the second quarter in the UK are expected to increase more than 500 percent in the second quarter, as compared to the second quarter of 2009. The company attributes this increase to its earlier achievement of Microgeneration Certification Scheme (NYSE:MCS) standard for sustainable-energy technologies.

Worldwide Energy also noted that its backlog has increased in the past 90 days, as well as the recent signing of a contract with an Italian client for 17.5MW of AS-60-230w solar modules valued at $35 million.

The company also noted positive feedback regarding its Amerisolar product line with a booth at Intersolar Europe, the world’s largest exhibition for the solar industry earlier this month in Munich.

Worldwide Energy CEO Jimmy Wang said the company was pleased to release a positive update and that it will continue to keep its shareholders informed on future operations and achievements.

“It is with great pleasure that we provide our shareholders with such a positive quarterly update. The numbers we provided to the marketplace in the first quarter as well as the anticipated revenue numbers for our second quarter are outperforming the expectations that we previously held for the Company internally,” Wang stated in the press release. “The Company will keep shareholders well informed of any new developments and will release new positive forward-looking guidance when the second quarter financials are released in August 2010. At this point, we fully anticipate a record year for the Company and we remain very confident in our business model for the foreseeable future. We look forward to sharing any additional information with our shareholders as it becomes available.”

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