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SOUTH SAN FRANCISCO, Calif. and SHANGHAI, China, Sept. 1, 2010 (GLOBE NEWSWIRE) -- Worldwide Energy and Manufacturing USA, Inc. (OTCBB:WEMU - News) ("Worldwide" or the "Company"), a U.S.-based China manufacturing company specializing in products for customers in the solar energy, aerospace, wireless telecommunications, medical equipment and automotive industries, today provided a financial update for the month of July 2010 with selected income statement data.

Total revenues for the month of July were approximately $14.8 million, up 229% from $4.5 million in the same period last year. Sales from the Company's solar division totaled $13.1 million, an increase of 296% from $3.31 million in the same month of 2009. Contract manufacturing revenues were $1.7 million, up 43% year-over-year from $1.19 million. Solar Division and Contract Manufacturing sales made up 89% and 11%, respectively, of total sales in July. The Company's gross profit margin was 9.1% in the month of July.

Jimmy Wang, CEO of Worldwide, commented, "The first month of our third quarter has been a promising one. We have incurred all of the one-time overhead costs of moving from our Ningbo facility to the new Nantong facility in Rugao, which negatively impacted our profit margin in the second quarter. So far this quarter we have seen the profit margins improve for both the solar division and the Company as a whole.

Based on our strong July sales, we are on a run rate to generate over $44 million in revenues for the third quarter and much higher operating profit than that of the recently reported second quarter. As we continue to ramp up production at our new Nantong facility and build on our existing success in penetrating the crucial European solar market, we expect strong continued financial growth in the remainder of the year."

Today you can buy WEMU at $3.6. That's just the cash at balance. 19 mio $.

And this while second quarter revenues are expected to exceed $30 million, an approximate 200% increase compared to the same period a year ago!!

First quarter was also approx. 30 million, which gave a EPS of § 0.39.

In august WEMU will give EPS for second quarter and guidance for full year 2010.

UPLISTING is also near.

 All catalysts are there, but the market isn't.

Xantu

Revenues & net income x 3, EPS x 2 compared to 2009Q1!

Guidance for 2010 will be given after Q2-results.

Forward P/E probably around 3!

Backlog: 82 mio $.

Management declares that "uplisting IN THE VERY NEAR FUTURE". Price multiples should go dramatically upwards.