SOURCE: Worldwide Energy & Manufactuing USA, Inc.

Worldwide Energy & Manufactuing USA, Inc.

December 29, 2010 07:15 ET

Worldwide Energy & Manufacturing USA, Inc. Sees Record Fiscal Year 2010 Revenues at High End of Guidance

Company Expects Increase of Approximately 165% Year Over Year

SOUTH SAN FRANCISCO, CA and SHANGHAI, CHINA--(Marketwire - December 29, 2010) - Worldwide Energy & Manufacturing USA, Inc. (OTCBB: WEMU) ("Worldwide" or the "Company"), a rapidly growing international supplier of photovoltaic (PV) solar modules, announced today that it expects fiscal year 2010 revenues to come in at the high end of its guidance based on the year-end sales strength that the Company is experiencing.

On December 7, 2010, Worldwide provided revenue guidance of between $160 million to $165 million for fiscal year 2010, a record for the Company. The update to the Company's revenue estimate is based on the strength it sees from contracts and commitments, primarily from its Solar Division. The Company's 'AmeriSolar' brand of photovoltaic solar modules continues to capture increasing market share globally and is building momentum and gaining recognition.

"Worldwide Energy & Manufacturing's revenue continues to grow rapidly as reflected in the revision of our 2010 revenue estimates to be the upper end of our previously stated range," said Jimmy Wang, CEO of Worldwide. "We are benefitting from strong international demand for PV Solar systems, particularly from Europe, which is a significant market for our AmeriSolar brand. Going forward, we expect to see strong demand for our products based on an overall increase in global demand for the adoption of clean, reliable solar energy solutions."

About Worldwide Energy & Manufacturing USA, Inc.

Worldwide Energy and Manufacturing USA, Inc. (, headquartered in South San Francisco, California, is a 17-year-old engineering-oriented firm specializing in photovoltaic (PV) module, mechanical, electronics and fiber optic products manufacturing. The company's worldwide customer base includes the solar energy, wireless telecommunications, aerospace, automobile and medical equipment industries. Subsidiaries include Shanghai Intech Electro-Mechanical Products Co. Ltd., LLC, Shanghai Intech-Tron Electric and Electronics Co., Ltd., LLC, Shanghai Detron Electric & Electronics Co., Ltd., Shanghai Intech Precision Machinery Co., Ltd., LLC, Shanghai Shutai Precision Casting Company, Limited, LLC, Worldwide Energy and Manufacturing (Ningbo) Co., Ltd., LLC, Worldwide Energy and Manufacturing (Nantong) Co., Ltd., LLC, and Worldwide Energy and Manufacturing (Shanghai) Co., Ltd.

Safe Harbor Statement

The information contained herein includes forward-looking statements. These statements relate to future events or to our future anticipated financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development and market conditions. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We do not intend to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act. 

Contact Information