Compensated Awareness Post View
Disclaimer
WEMU 10Q out Revenues $39.8 Million with $0.61 EPS (diluted) for the first 6 months of FY10
Also they opened their new factory in Nantong China
(From the 10Q)
In May 2010, Nantong formed its wholly owned subsidiary, Worldwide Energy and Manufacturing (Shanghai) Co., Ltd, (“Shanghai Solar”) to provide design, installation, and consulting for Solar Power Systems. This subsidiary has been created to provide more value add to our customers by providing the System Integration services (the next downstream link in the Solar Value Chain) to complement our PV Solar Module offerings. This service will provide system design work by incorporating and specifying the Balance-of-System (BOS) components with our Amerisolar modules. We have started this endeavor to take advantage of the rapidly growing solar market in China. Operations at this subsidiary are not expected to be material in 2010 and therefore, we have not determined the revenue recognition policies which will apply to this operation.
As of June 30, 2010 we own and operate three factories that we now use for the manufacturing of certain product lines that we historically had to subcontract, and we are using the services of approximately 40 subcontractors to manufacture those product lines for which we do not have our own manufacturing capabilities.
