Toronto Venture Exchange Symbol: "WND"
Issued and Outstanding: 36,550,251
VANCOUVER, Aug. 7 /CNW/ - Western Wind Energy Corp. ("Western Wind")
(TSX-V: WND) is pleased to announce record revenues of $2,145,874 and net
earnings of $2,904,631 or ten cents ($0.10) per share for the 2nd Quarter
ending June 30, 2008.
This compares to revenues of $877,464 and a loss of $2,141,520 or a loss
of ($0.07) per share for the previous quarter ending March 31, 2008. This
further compares to revenues of $1,492,822 and a net loss of $137,756 or
($0.01) per share for the three months ended July 31, 2007.
Loss from continuing operations was $24,433 and down significantly from a
loss of $2,141,521 for the previous quarter ending March 31, 2008. Income from
continuing operations for the three months ended July 31, 2007 was $62,895.
Working capital also changed from negative $16.9 million as at March 31,
2008 to positive $4.3 million as at June 30, 2008. Over the same periods,
shareholders' equity increased from $2.0 million to $22.6 million.
Western Wind is in the business of acquiring exceptional land sites,
capital and technology for the production of electricity from renewable
sources. Western Wind Energy conducts its operations in California, Arizona
and Ontario through various wholly owned subsidiaries. Management of Western
Wind Energy includes individuals involved in the operations and ownership of
utility scale wind energy facilities in California since 1981.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
Chief Executive Officer
Cautionary Note on Forward Looking Statements
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release. Certain
statements included herein are "forward-looking statements" as defined by the
Private Securities Litigation Reform Act of 1995. Management cautions that
forward-looking statements are not guarantees and that actual results could
differ materially from those expressed or implied in the forward-looking
statement. Important factors that could cause the actual results of operations
or financial condition of the Company to differ include, but are not
necessarily limited to, the risks and uncertainties discussed in documents
filed by the Company with the Securities and Exchange Commission.
For further information:
For further information: Western Wind Energy Corp., 1326 - 885 West
Georgia Street, Vancouver, BC, V6C 3E8, Telephone: (604) 685-WIND (9463),
Facsimile: (604) 685-9441, www.westernwindenergy.com