Thursday April 13, 9:30 am ET Company Achieves 30% Increase in Revenues for the Year and 11% Increase in Net Profit Over Last Year
April 13, 2006 (Press Release) --
SAN BRUNO, Calif. and SHANGHAI, China, April 13 /PRNewswire-FirstCall/ -- Worldwide Manufacturing USA, Inc. ("Worldwide") (OTC Bulletin Board: WMFG - News) www.wwmusa.com, an engineering, direct manufacturer of die casting, stamping, electronics fabrication and air-condition units for automobiles, today announced year end results for 2005. Revenues increased 30% to $8,731,431, as compared to $6,700,593 for fiscal year 2004. Gross profit increases by $254,789 to $2,802,014 in 2005 from $2,547,225 in 2004. Net income saw a 11% increase to $581,166 from $521,486 in 2004. Net income before taxes was $579,466 in 2005 compared to $777,978 in 2004. The decrease was the result of acquisition costs and purchase of $250,000 of materials for its new factories.
Jimmy Wang, CEO of Worldwide, was extremely pleased. "It was an outstanding year for us. We recently established Shanghai Lizun Precision Mechanical Products, a die casting and machining factory that produces components for the automobile, motorcycle, telecommunications and home supply industry, and our own electronics manufacturing company, Shanghai Intech Electro-Mechanical Products Company, Ltd."
About Worldwide Manufacturing USA, Inc.
Worldwide Manufacturing USA, Inc. ("Worldwide") is headquartered in the Silicon Valley, California, with four wholly-owned subsidiaries, Shanghai Intech Electro Mechanical Products, Chengde Science & Technology Co., Ltd., Shanghai Intech Electronics Manufacturing Co., Ltd and Shanghai Intech Precision Mechanical Products Manufacturing Co., Ltd., are located in Shanghai and Changchun City, China. Worldwide is a 12-year-old engineering-oriented firm specializing in international contract manufacturing and is also a direct manufacturer of automobile air-conditioning units, die casting, machining and electronics components. Its customers include the industries of wireless telecommunications, aerospace and automobiles and medical equipment. Worldwide also manufactures components for industries of machinery, tools, home electrical solutions and electronic parts such as electronic toys.
For further information on Worldwide Manufacturing USA, Inc., please visit www.wwmusa.com. You may register to receive Worldwide Manufacturing USA, Inc.'s future press releases and to be added to the Company's distribution list by contacting Alan Stone & Company, LLC at astone@alanstone.com
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.
Jimmy Wang, CEO of Worldwide, was extremely pleased. "It was an outstanding year for us. We recently established Shanghai Lizun Precision Mechanical Products, a die casting and machining factory that produces components for the automobile, motorcycle, telecommunications and home supply industry, and our own electronics manufacturing company, Shanghai Intech Electro-Mechanical Products Company, Ltd."
About Worldwide Manufacturing USA, Inc.
Worldwide Manufacturing USA, Inc. ("Worldwide") is headquartered in the Silicon Valley, California, with four wholly-owned subsidiaries, Shanghai Intech Electro Mechanical Products, Chengde Science & Technology Co., Ltd., Shanghai Intech Electronics Manufacturing Co., Ltd and Shanghai Intech Precision Mechanical Products Manufacturing Co., Ltd., are located in Shanghai and Changchun City, China. Worldwide is a 12-year-old engineering-oriented firm specializing in international contract manufacturing and is also a direct manufacturer of automobile air-conditioning units, die casting, machining and electronics components. Its customers include the industries of wireless telecommunications, aerospace and automobiles and medical equipment. Worldwide also manufactures components for industries of machinery, tools, home electrical solutions and electronic parts such as electronic toys.
For further information on Worldwide Manufacturing USA, Inc., please visit www.wwmusa.com. You may register to receive Worldwide Manufacturing USA, Inc.'s future press releases and to be added to the Company's distribution list by contacting Alan Stone & Company, LLC at astone@alanstone.com
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.
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