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Worldwide Energy and Manufacturing (fka WEMU)

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Last Post: 10/13/2012 11:14:53 AM - Followers: 16 - Board type: Free - Posts Today: 0

Company Overview:

Worldwide USA, together with its Chinese subsidiaries, is a contract manufacturer, engineering firm and direct manufacturer. A contract manufacturer supplies components and assemblies, either through direct manufacturing or through sub contracting to other manufacturers, according to the customers’ designs, drawings and quality criteria.  When utilizing our subcontractors, they will provide the plant, equipment, manufacturing working capital and factory labor and Worldwide provides the sales, management, production control and technical support for the products. Worldwide’s goal is to provide timely delivery and high quality components at manufacturing costs less than what Worldwide’s customers would pay for similar parts in the United States.

 

Worldwide provides its services to several companies in the United States, Europe and South Korea primarily in the solar module, aerospace, automotive, and electronics industries. Although Worldwide historically focused on manufacturing components for high tech industries, in 2008 the Company expanded into the solar module markets. Worldwide’s CEO, Jimmy Wang, realizes that the solar module industry provided Worldwide with a unique opportunity to use its core strength of providing high quality components and assemblies, with timely delivery,  to develop a solar module team capable of successfully entering the solar module markets. The Company’s solar module brand “AmeriSolar” has already earned numerous quality certifications including IEC612215, TUV, CE and has recently applied for the UL certification. These solar modules meet or exceed all industry norms for performance, quality and functional life in the field.

 

Worldwide currently employs approximately 450 employees, including 33 staff engineers and 12 administrative personnel at Worldwide’s wholly owned subsidiary Intech in Shanghai, China and 400 employees who work at our factories in China. The remaining 13 employees work at the California office in South San Francisco. Five of these employees are in sales with the remaining eight employees working in support and administrative roles. All employees are full time.

 

Net sales for the year ending December 31, 2008 were $45,913,957 compared to $12,132,710 for the year ending December 31, 2007, an increase of $33,781,247 or approximately 278.4%.  The primary reason for the increase was due to our energy division which started in February 2008 and generating sales of $30,999,962. Additionally, the acquisition of Detron generated sales of $1,720,965 for the Company in the fourth quarter.

 

Net profit for the year ending December 31, 2008 was $1,459,875 compared to $575,674 for the year ending December 31, 2007. The increase of $884,201 or 153.6% was the result of higher sales from our solar division. Net profit from this division was approximately 3%.  It is expected that gross margins will improve as the Company continues its transition to becoming a direct manufacturer for its solar module products as the newly established factory becomes operational. Further, the outlook for solar modules margins looks to improve as raw material necessary for production of modules are expected to decline.

 

Company website:   http://www.wwmusa.com/

 

Outstanding shares:  3,493,512 as of 3-31-09 per the 10-K

Investor Relations:     RedChip Companies, Inc. - Dave Gentry (407)644-4256 ext. 104    e-mail: dave@redchip.com     http://www.redchip.com/home.aspx

Link to 3-10-09 shareholder letter from the CEO, focusing on the company outlook:         http://finance.yahoo.com/news/Worldwide-Energy-and-iw-14595262.html

 

PostSubject
#291   The SEC has released it's findings...ironically it's Mindy tigerpac 10/13/12 11:14:53 AM
#290   doomed before, remain doomed. So sorry for those johnsyn 09/10/12 10:08:05 AM
#289   Additional SEC Litigation: Renee 09/10/12 09:37:00 AM
#288   SEC Charges Solar Manufacturer With Concealing Agreement to johnsyn 09/07/12 09:34:52 AM
#287   WEMU revoked: Renee 05/16/12 10:30:37 AM
#286   And to add insult to injury, just as PennyNK 09/16/11 03:54:30 PM
#285   1hot, take a look and see if you PennyNK 09/12/11 02:04:05 AM
#284   Penny, I sold at $2.50 I paid $5 1hothand 04/28/11 09:16:39 PM
#283   WHAT IS Going On!!!! I've NEver seen PennyNK 04/28/11 02:01:28 PM
#282   What in the hell is Jimmy doing now? 1hothand 04/15/11 07:56:29 PM
#281   CHART 9/17 SimonL 09/19/10 01:10:19 AM
#280   NEWS HERE...KEEP ROLLIN...GL.. 911 09/01/10 01:18:57 PM
#279   PennyNK not pumping just reporting Q2 numbers redchipir 08/26/10 10:26:39 AM
#278   Yea yea yea .... why do you folks PennyNK 08/24/10 08:11:01 PM
#277   Worldwide Energy and Manufacturing USA, Inc. Announces Second redchipir 08/19/10 02:26:35 PM
#276   Worldwide Energy and Manufacturing USA Announces Opening of redchipir 08/16/10 10:52:05 AM
#275   Worldwide Energy and Manufacturing USA Announces Second Quarter sherryredchip 07/22/10 12:53:52 PM
#274   The numbers this morning were nothing short of BigOnChina 07/22/10 07:24:51 AM
#273   chinese energy policy 1hothand 07/21/10 11:20:26 PM
#272   CNBC strategy session. today, Bankers Flock 1hothand 07/21/10 01:54:13 PM
#271   http://finance.yahoo.com/news/Chinese-Official-Boasts-Even-indie-1566057276.html 1hothand 07/21/10 11:09:53 AM
#270   Wemu $3.85 bid 3.65. I like the 1hothand 07/21/10 10:51:26 AM
#269   i was looking for a solar stock, i MasterTbone 07/20/10 12:51:22 PM
#268   WEMU at Global Hunter Conference redchipir 07/19/10 11:37:00 AM
#267   wemu $ 3.80. heading lower imo. 1hothand 07/15/10 08:13:10 AM
#266   still a very inexpensive stock and if it BigOnChina 06/17/10 07:12:16 PM
#265   looking through a report bradford86 06/17/10 12:19:22 AM
#264   WEMU REG_SHO Overview Threshold Security List 5/21/2010 ICEQUITY 05/22/10 05:09:15 AM
#263   I like this stock and will slowly accumulate. auroradude 05/20/10 12:00:25 PM
#262   Why the hell is this stock going down??? 1hothand 05/12/10 01:06:08 PM
#261   Worldwide Energy and Manufacturing USA Announces Preliminary First djmarko1019 05/12/10 08:24:01 AM
#260   Jimmy Wang, chief executive officer, stated: "We are 1hothand 05/11/10 08:57:05 PM
#259   WEMU is coming off a record revenue year djmarko1019 05/10/10 02:59:42 PM
#258   Stock is rebounding. FastEddie777 04/21/10 10:20:52 AM
#257   $17 per share of revenue. Wow. FastEddie777 04/19/10 09:52:49 AM
#256   Company Reports Record Revenue of $62.2 Million, up FastEddie777 04/16/10 09:35:50 AM
#255   Record Revenue! FastEddie777 04/16/10 09:34:40 AM
#254   News Out! FastEddie777 04/16/10 09:34:21 AM
#253   Wemu Earnings come out when? 1hothand 03/31/10 11:44:39 AM
#252   Solar stocks in the 20SSI surpassed both major stockguard 03/14/10 01:58:18 PM
#251   Everything that Could Go Wrong has Gone Wrong stockguard 03/14/10 01:35:41 PM
#250   More funds to help develop China's emerging industries stockguard 03/10/10 10:10:26 AM
#249   nice now lets go..building..gl 911 03/10/10 08:39:05 AM
#248   Better believe it: solar stocks recover stockguard 03/09/10 12:24:31 AM
#247   Not aware of any developments, but the volume edjohnson 03/08/10 10:01:20 PM
#246   WEMU $5.24 HOD up 4.8 %. 1hothand 03/08/10 03:45:07 PM
#245   Some reshuffling took place today with WEMU. Seems insignificant. mauiguy2 02/22/10 05:42:12 PM
#244   New Chinese Solar filed for IPO (Daqo Energy), edjohnson 01/14/10 11:18:13 AM
#243   Normally Nasdaq wants to see the reports from edjohnson 01/14/10 09:30:44 AM
#242   6.60 x 6.85.hod 7.22. Nice surprise here. Lrg.gl.eom 911 01/13/10 10:44:22 AM
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