SOUTH SAN FRANCISCO – Worldwide Energy and Manufacturing USA Inc. reported third-quarter net sales of $18.62 million, up 87% sequentially.

Compared to the third quarter of 2008, sales were down slightly. Contract manufacturing division sales decreased as a result of market conditions.

Gross profit increased 109.8% year-over-year to $2.86 million. Gross profit for contract manufacturing for the quarter was $1.06 million, up 14.9% year-over-year.

Net income was $903,357 compared to a net profit of $540,608 in the third quarter last year. The 67.1% increase was driven by greater profitability of both the solar and contract manufacturing divisions.

Net sales for the nine-month period ended Sept. 30 were $39.22, up 25.1% year-over-year.

For the nine-month period, gross profit was $6.56 million, up 70.3% compared to the same period in 2008.

Worldwide Energy and Manufacturing USA is a solar module technology and manufacturing company.

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