NEWS
Titan Energy Worldwide Announces Preliminary Third Quarter Sales Results
Tuesday October 14, 10:16 am ET
Sales in 3rd Quarter Are Highest Quarterly Sales in Company's History
MINNEAPOLIS, MN--(MARKET WIRE)--Oct 14, 2008 -- Titan Energy Worldwide, Inc. (OTC BB:TEWI.OB - News), a leader in the manufacturing, marketing and servicing of energy generation products and services, announced today that based on a preliminary review of third quarter results the Company will post $3.2 million in sales, a record high for a single quarter in the Company's history.
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According to John Tastad, Titan Energy's Chief Executive Officer, "These strong results in the third quarter of 2008 are a continuation of the success we have been seeing in our sales and service programs this year. A dedicated staff, a focus on higher margin products, stronger emphasis on service programs, an increase in sales in the Sentry 5000TM and overall higher efficiencies have contributed to these record numbers."
"These improvements and records are the measures of accomplishment and proficiency we expect to bring to the new acquisitions for Titan Energy that we announced earlier. We are hoping to finalize those transactions soon and bring all these operations under the Titan Energy banner," added Tastad.
About Titan Energy Worldwide, Inc.
Titan Energy is a leader in the manufacturing, marketing and servicing of energy generation products and services, including development and support for new energy-related technology. Founded in 2005, Titan combines engineering expertise, established sales and distributorships, service operations and unique strategic partnerships to meet the growing global demand for clean, efficient, energy solutions. Titan serves disaster recovery, first responders, relief agencies, homeland security, the department of defense and municipalities. For more information, visit the company's website at: www.titanenergy.com.
Forward-Looking Statements
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of TEWI officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future TEWI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and TEWI has no specific intention to update these statements.
Contact:
For more information about Titan Energy Worldwide please contact:
Julie Kane
Titan Energy Worldwide, Inc.
248-446-8557
