Titan Energy Posts Record Backlog of more than $7 million in Equipment Sales
Company on Course for Record Sales in First Half of 2012
Titan Energy Worldwide, Inc. (OTC: TEWI.PK - News), a leader in distributed power generation products and intelligent energy management services, today announced that the Company has achieved a record backlog of equipment sales totaling more than $7 million, an increase of nearly 80% over the same period last year. The Company's backlog represents orders on hold and new purchase orders for equipment that have not shipped and is an indication of expected sales over the next several months.
"Because new orders take three months or more to ship after placement, our backlog at this time provides us with a good picture of how the first half of 2012 will be in terms of equipment sales. At $7 million in orders, we could easily see a record first half of the year," stated Jeffrey Flannery, Chief Executive Officer of Titan Energy Worldwide, Inc.
Added Flannery, "In the Midwest, we have seen our sales of Generac power generators rise dramatically over last year's sales and we are expecting to post a record year in 2012. This increase in sales could be partially due to the mild winter we have had in this region of the U.S. It may also be an indication that areas of the economy are improving in the Midwest as we see no signs of sales activity slowing down. While still early in the year, based on activity we are expecting record sales in our East Coast territories as well."