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Worldwide Manufacturing USA Inc. (OTCBB: WMFG) |
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Dear Reader,
When we sit down with CEO’s of the companies featured in StockUpTicks we tell them that we will bring their corporate stories to our audience of 1 million+ small cap investors. It is their job then, as a company, to continue to execute their business plans and maximize opportunities for investors.
And it’s great when they do just that.
As our readers will recall, on Tuesday, we first profiled Worldwide Manufacturing USA Inc. (OTCBB: WMFG), a Chinese-based contract manufacturing firm that service numerous Fortune 500 companies and is blossoming into a diversified holding company.
The company’s shares have performed since the initial profile in StockUpTicks and by our news wire courier, SmallCap Sentinel, that many of you have seen while getting your quotes and news online. WMFG’s share price has increased dramatically as the chart (below) indicates.
Today, we are pleased to showcase breaking news which affirms that this company is headed in the right direction and hitting important milestones along the way. Revenues are up, profits are way up, and the company appears to have hit some important efficiency points as indicated by the fact that revs were up 12% yet profits were up a garish 31%. This comes despite the fact that in the current year they had to pay a big chunk in taxes (due to the profits) whereas in previous years they had enjoyed a tax "refund" or benefit.
We’re not CFA’s but from an interested investor’s perspective it looks like they've got a firm grip on their business model and have a rhythm that could indicate continued profitable growth. Let’s stay tuned to see if this proves true.
So, please take a look at today’s news from WMFG detailed below. Sometimes a company even exceeds our lofty expectations.
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**BREAKING** News >From Worldwide Manufacturing USA Inc. |
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Press Release
Source: Worldwide Manufacturing USA, Inc.
Thursday March 31, 9:00 am ET
Worldwide Manufacturing USA, Inc. Announces Year End Results
SAN BRUNO, Calif., March 31 /PRNewswire-FirstCall/ -- Worldwide Manufacturing USA, Inc. ("Worldwide", the "Company") (OTC Bulletin Board: WMFG - News) today announced year-end earnings. As of December 31, 2004, combined net sales were $6,700,593 with gross profits of $2,547,225, compared to net sales of $5,999,630 and gross profits of $1,948,405 for the same period last year, an increase of approximately 12% in sales and 31% in overall gross profit. Net income before taxes was $777,978 compared to $502,372 for the same period last year, and net profit for the current period was $521,486 compared to the previous year's profit of $540,872. Net profit after tax was affected by income tax expense of $256,492, compared to a benefit in income tax of $38,500 for 2003.
Jimmy Wang, the Company's Chief Executive Officer, declared, "The Company continues to demonstrate rapid growth and profitability."
About Worldwide:
Worldwide is headquartered in San Bruno, California, and its two wholly owned subsidiaries, Shanghai Intech Electro Mechanical Products, and Chengde Science & Technology Co., Ltd., are located in Shanghai, China and Changchun City, China, respectively. Worldwide is an 8 year old engineering firm specializing in international contract manufacturing and is a direct manufacturer of air-conditioning units for cars. Its customers include the industries of wireless telecommunications, aerospace, automotive, machinery, tools, home electrical, and general electronics.
The above news release contains forward-looking statements. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of business risks, external factors and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements. The Company assumes no obligation to update the information contained in this press release, whether as a result of new information, future events, or otherwise.
Source: Worldwide Manufacturing USA, Inc.
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About Worldwide |
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Worldwide provides its customers with the well-established advantages of manufacturing in China
and eliminates any business apprehension of direct supply contracts with manufacturers in China.
As a contract manufacturer, Worldwide does not primarily manufacture customer parts, but subcontracts to factories that produce these parts. Worldwide has operations in the State of California and the Peoples Republic of China. Worldwide provides its services to companies in the United States and is in an expansion mode to offer its services to other markets. Worldwide has two wholly owned subsidiaries located in China: Shanghai Intech Electro Mechanical Products and Chengde Science & Technology Co., Ltd.
As a contract manufacturer, Worldwide provides sales, management, oversight, and technical production control to its customers. Worldwide then identifies which of its sub-contractors is capable of producing customer parts according to desired specifications and quality standards. Worldwide's sub-contractors then provide: equipment, labor, plant operations, and working capital to fulfill the customer order. Worldwide is in control of the customer order from inception to delivery. Worldwide customers are drawn from a broad group of industries including: aerospace, telecomm, automotive, machinery, tools, home electrical, and electronic toys.
Worldwide has developed an effective model for foreign companies to safely take advantage of lower-cost manufacturing in China.
Worldwide’s clear competitive advantage
is its ability to timely deliver high quality components
at manufacturing costs that are at least fifty percent (50%) less
than what Worldwide’s customers pay for similar products in the United States.
The future for Worldwide? A manufacturing holding corporation
Worldwide is now a direct manufacturer of air-conditioning units for cars. In June of 2004, Worldwide began extensive discussions to acquire several factories from among its 99 subcontractors mostly in Shanghai, Jiangsu, and the Zhejiang areas of China. The Worldwide business model calls for the company's expansion into direct manufacturing. Worldwide management made two acquisitions last year and has engaged an experienced, SEC-approved auditing firm and an independent legal team to assist Worldwide with its further due diligence of acquisition candidates.
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Worldwide Divisions & Products |
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Worldwide has established 13 distinct product lines across four major categories.
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Foundry
Die-Casting
" Investment Casting"
Plastic
Forging
Sand Casting
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Worldwide's Foundry Department provides high-end finished foundry products to meet customer's requirements.
Worldwide has well-trained engineers in its California headquarters and its China-based subsidiaries.
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Machining
& Stamping
Machining
Stamping
Extrusion
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Worldwide has a strict material inspection lab and a rigid inspection process to assure that products meet customer's requirements.
The Worldwide redesign capability provides products with very tight tolerances and high surface finish requirements.
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Electronics
PC Board Fabrication and Assembly
Cable
Coils
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Worldwide can go from printed circuit board to final build as well as
test, burn in,
package and shipping of products.
Worldwide works hard to give its customers great performance
and a winning attitude.
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Fiber Optics
Product lines include:
CWDM, DWDM, FWDM and OADM, FBT Coupler/Splitter,
Attenuator, Isolator,
Fiber Optic Sub-components
and PCB assemblies.
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Worldwide
is a manufacturer
and provider of
Fiber Optics.
Worldwide provides
high performance
and low cost
fiber optics
that always exceed
customer expectations.
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Other Recent News From Worldwide |
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Press Release Source: Worldwide Manufacturing USA, Inc.
Thursday March 17, 9:00 am ET
Worldwide Manufacturing USA, Inc.
Announces Three Million Dollar Purchase Order
SAN BRUNO, Calif., March 17 /PRNewswire-FirstCall/ -- Worldwide Manufacturing USA, Inc. ("Worldwide") (OTC Bulletin Board: WMFG - News) today announced that it has received a purchase order for 10,000 air-conditioning units for cars from Beijing Automobile Manufacturing Co., Ltd. The contract is worth over 3 million dollars and extends through January 18, 2006. The air-conditioning units will be manufactured at Worldwide's newly acquired factory, Chengde Science & Technology Co., Ltd., ("Chengde"). Jimmy Wang, CEO of Worldwide, stated, "We are excited to receive this order since Beijing Automotive is one of the largest car manufacturers in China." To read the entire release and disclaimer, the link is Here
Press Release Source: Worldwide Manufacturing USA, Inc.
Tuesday March 1, 9:00 am ET
Worldwide Manufacturing USA, Inc.
Acquires Chengde Science & Technology Co., Ltd.
SAN FRANCISCO, March 1 /PRNewswire-FirstCall/ -- Worldwide Manufacturing USA, Inc. ("Worldwide")(OTC Bulletin Board: WMFG - News) today announced the acquisition of Chengde Science & Technology Co., Ltd., a Chinese corporation ("Chengde"), in exchange for $120,000 plus 360,000 shares of restricted common stock of Worldwide to be allocated over three years. Chengde is a factory that produces air condition units for cars in Asia. Jimmy Wang, CEO of Worldwide, stated that "this acquisition allows Worldwide to become a direct manufacturer, to obtain larger orders from current customers and to attract new customers in the automotive industry." Mr. Wang noted that the Chinese Government has laid a plan in which it hopes that 1 out of 50 people will own a car in China compared to the present 1 out of 500 who presently owned a car. This translates into explosive growth in the automotive industry and air conditioning in cars, likewise, could see a dramatic and rapid rise in demand." Worldwide plans to add approximately one million dollars of working capital over the next year to meet the anticipated increase in demand. To read the entire release and disclaimer, the link is Here
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Financial Highlights For Worldwide |
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For the Nine Months Ended 9/30/04
Revenue increased 8%
Net income increased 12%
Net sales increased 8%
Gross profit increased 36%
Gross margin percentage increased of 39%
aa^^^
Recent Price: $.30
52-Week Hi / Lo 0.65 / 0.30
Avg Vol (3m): 12,227
Market Cap: $9.09 M |
Sector: Capital Goods
Shares (Millions) 30.325
Float (Millions) 4.045
P/E ttm (trailing 12 mos.) 15 |
To view the latest 10Q from Worldwide on the SEC Web site, the link is Here
one month chart
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To Contact Worldwide |
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Worldwide Manufacturing USA Inc
1142 Cherry Street
San Bruno, CA 94066
Phone: (650) 794-9888 - Fax: (650) 794-9878
Web Site: http://www.wwmusa.com
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