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Worldwide Energy and Manufacturing USA Announces Record Revenue and Net Income for the First Quarter 2009
Revenue Increased 90% to $10.3 Million for the First Quarter 2009; Net Income Increased 132% to $506,857 for the First Quarter 2009; Earnings per Share Is $0.13 for the First Quarter 2009 Compared to $0.11 for the First Quarter 2008

* On Thursday May 14, 2009, 9:30 am EDT

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* Worldwide Energy & Manufacturing USA, Inc.

SOUTH SAN FRANCISCO, CA and SHANGHAI, CHINA--(MARKET WIRE)--May 14, 2009 -- Worldwide Energy and Manufacturing USA, Inc. (OTC BB:WEMU.OB - News), a U.S.-based solar module technology and China manufacturing company specializing in products for customers in the industries of solar energy, aerospace, wireless telecommunications, medical equipment and automotive industries, today announced record revenue and net income for the first quarter ended March 31, 2009. A conference call to discuss these results is scheduled for Thursday, May 14, 2009 at 4:15 p.m. Eastern time (1:15 p.m. Pacific time). Details on accessing the call follow, below.

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First Quarter Ended March 31, 2009

Net sales for the three months ended March 31, 2009 were $10,281,867 compared to net sales of $5,404,083 for the same period in 2008. This increase of $4,877,784, or approximately 90.3%, was the result of an increase in orders in the Company's energy division and the recent acquisition of Shanghai Intech-Detron Electric and Electronic Company Limited ("Detron"). Solar orders for the quarter ended March 31, 2009 were $6,412,210 compared to $2,505,977 in the same period in 2008. This represents an increase of $3,906,233, or approximately 155.9%. Additionally, the recent acquisition of Detron resulted in an increase in revenues of approximately $1,087,000 for the first quarter. The Company will continue to focus on the expansion of its solar energy division by the continued development of its newly established solar factory in Ningbo, China, as well as the continued quality enhancements of its solar module brand, "Amerisolar."

Gross profit for the three months ended March 31, 2009 increased by $734,542 to $1,899,592, or approximately 63.0% from $1,165,050 for the same year-ago period, primarily reflecting solar module sales in the energy division.

Gross margin was 18.5% for the three months ended March 31, 2009 compared to 21.6% in the same quarter of 2008. The decline of 3.1% in gross margin was the result of the Company utilizing more subcontractors for production of its solar modules along with softness in the price of solar modules. It is expected that gross margins will improve as the Company continues its transition to becoming a direct manufacturer of its solar module products and as the newly established Ningbo factory becomes fully operational. Further, the outlook for solar module margins is expected to improve as the costs of raw materials necessary for module production are expected to decline and margins to increase.

In the three-month period ended March 31, 2009; there was stock-based compensation of $32,120 compared to the non-cash deduction of $110,000 for stock-based compensation in the same quarter of 2008. Furthermore, the Company had depreciation expense of $73,176 in the period ended March 31, 2009 compared to $3,972 in the same period of 2008, due to the greater amount of depreciable assets owned by the Company.

Net income before taxes for the three months ended March 31, 2009 was $506,857 compared to a net income of $218,923 in the same quarter of 2008. The increase of $287,934, or approximately 131.5%, was largely the result of the increased sales of the Company's solar modules. Net income after tax was $443,154 for the three months ended March 31, 2009 compared to a net profit after tax of $230,327 in the same quarter of 2008. The increase of $212,827, or approximately 92.4% was also due to the increased sales of solar modules. Earnings per share was $0.13 for the quarter ended March 31, 2009 compared to $0.11 in the same quarter of last year.

Balance Sheet

Cash and cash equivalents totaled $3.5 million on March 31, 2009, compared to $5.1 million at year end. Accounts receivable increased to $8.6 million for the period ended March 31, 2009 compared to $4.8 million at year end.

Total current assets and total assets were $18.8 million and $23.8 million on March 31, 2009. This compared to total current assets of $14.9 million and total assets of $19.1 million at year end.

Total current liabilities and total liabilities totaled $10.9 million and $11.8 million on March 31, 2009 compared to total current liabilities and total liabilities of $6.6 million and $7.6 million at year end.

Mr. Jimmy Wang, CEO of Worldwide Energy and Manufacturing, stated: "We are very pleased to announce the best first quarter in the company's history. Our solar energy division is performing well; and with increased capacity and new solar contracts, we expect to experience strong financial growth for the remainder of 2009. We are pleased that our new solar factory is open and producing, which will help to increase our gross margins for the energy division and the company as a whole. Our strong financial performance clearly demonstrates that the company has successfully made the transition into the renewable energy market and solar module manufacturing. The remainder of 2009 is on track for explosive growth with records for both revenue and profitability."


Conference Call

The call information follows:
Date: May 14, 2009
Time: 4:15 p.m. Eastern Daylight Time
Dial-in number for US/Canada: [phone] or [phone] for
international calls
Live Webcast: http://www.wwmusa.com or alternately at http://viavid.net.

A replay of the call will be available for two weeks from 7:15 p.m. May 14, 2009, EDT until 11:59 p.m. EDT on May 28, 2009. The number for the replay is [phone], or [phone] for international calls; the passcode for the replay is 4076744. In addition, a recording of the call will be available via the company's website at http://www.wwmusa.com for one year.