ORLANDO, Fla., June 4, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc. today announced that it has issued a first quarter 2008 research update on Worldwide Energy and Manufacturing USA, Inc. (OTCBB:WEMU), an engineering firm specializing in international contract manufacturing for electronics, mechanical and fiber optic products.
Ajay Mohan, MFM, RedChip Research Analyst, wrote in the report:
"WEMU displayed great potential for revenue growth in 1Q08 by posting a 93.9% increase compared to 1Q07. According to our analysis, this revenue growth sets a new pattern of top-line growth going forward. In light of this new growth dimension, we expect 2Q08 will be promising, as we believe the Company will continue to book new orders and maintain its outstanding performance in its new solar energy segment and as it aggressively pursues its acquisition policy."
"WEMU engages in a wide range of product development across various sectors that provide unique opportunities for the Company to hedge against sector risks. Its operations in two different countries, the United States and China, also provide a considerable hedge against economic recession," Mohan continued.
"We maintain our 'Buy' recommendation on WEMU and maintain our 12-month target price of $14.00," he concluded.
To receive a complimentary copy of the RedChip Visibility 1Q 2008 Research Report for WEMU, please visit: http://www.redchip.com/visibility/about.asp?page=vreport&reportid=113&from=06042008pr.
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Disclosure
None of the profiles issued by RedChip Companies, Inc. constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. Worldwide Energy and Manufacturing USA, Inc. (WEMU) paid RedChip Visibility, a division of RedChip Companies, Inc. $15,000 for RedChip Visibility Program services, which included the preparation of this equity research report. RedChip Companies, Inc., is currently engaged by this company to provide investor relations services. WEMU agreed to pay RedChip Companies, Inc., a fee of $10,000 in cash per month for twelve (12) months of these investor relations services. To the fullest extent permissible under applicable law, RedChip Companies, Inc. will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information.