WEMU is coming off a record revenue year in 2009. The first quarter 2010 report is charted for May 17, 2010. Another Record year is expected for WEMU the idea is bolstered by the fact that they have a 68 million dollar backlog in their solar division. They are currently under consideration for Up- Listing to the Amex exchange. They are meeting with the Amex committee on May 13th and not only do I anticipate an approval, but I believe it will be days immediately following the Amex committee meeting. Slating the approval for the week of May 17th
Personally I think this all translates into a company that is currently greatly undervalued and at these levels represents a real opportunity to accumulate shares at a discount.
Full Year Highlights
-- 2009 Revenue increased by 35.5% to $62.2 million compared to net sales
of $45.9 million in the full year 2008.
-- 2009 Solar Module revenue was $47.8 million compared to solar module
sales of $31.0 million for 2008, an increase of over 54.0%.
-- 2009 EBITDA (excluding derivative liability) was $0.69 per share, or
$2.5 million compared to $0.45 per share, or $1.3 million, for the full
year 2008.
-- Total Assets were up 81% year-over-year, from $19.13 million in 2008 to
$34.65 million in 2009.
-- Cash and Cash Equivalents increased 80.3% to $9.18 million
year-over-year.
-- Net Income (excluding derivative liability) was $1.72 million, or $0.48
per share in 2009, compared to $0.79 million, or $0.27 per share, in
2008.
AI
