SOURCE: Titan Energy Worldwide

Titan Energy Worldwide

October 20, 2009 09:30 ET

Third Quarter Revenues of $3.3 Million Set Record for Titan Energy Worldwide

3rd Quarter Sales Post 38% Improvement Over 2nd Quarter

MINNEAPOLIS, MN--(Marketwire - October 20, 2009) - Titan Energy Worldwide, Inc. (OTCBB: TEWI), a leader in distributed power generation products and intelligent energy management services, today released preliminary financial results for the third quarter of 2009. The Company reported more than $3.3 million in sales for the quarter, which is an improvement of 38% over the previous quarter and surpasses the previous record set in the 2nd quarter of 2008. The record quarter was helped by September sales figures of $1.36 million, one of the highest revenue months in the Company's history. The Company's complete quarterly financial statements will be filed with the U.S. Securities and Exchange Commission by November 15, 2009.

"I believe we will continue to set company records this year and into 2010. We have broadened our customer base and grown our business in many critical sectors including the military, telecommunications, federal defense and healthcare. We are offering customers the most advanced distributed power generation products and delivering these systems in a timely manner. Ours sales and support teams are working at full gear now and we anticipate improving sales numbers for the next 6 to 12 months," stated Thomas Black, Chief Operating Officer of Titan Energy Worldwide, Inc.

Titan Energy provides back-up, emergency and ancillary power systems to support a wide range of critical operations in both the military and private sectors. These systems provide distributed energy during emergencies, natural disasters or during times when power from the electrical grid is suboptimal or unavailable. Titan Energy provides engineering, planning, equipment and service support on all its power systems, which range from 50kW to multiple megawatts in size.

About Titan Energy Worldwide, Inc.

Since its founding, Titan Energy Worldwide has been dedicated to helping companies meet their power generation and energy management needs. To date we have focused on providing thousands of customers with the most advanced power generation equipment to enable their operations to continue uninterrupted during times of power failures or disasters. We have also established a professional service team that helps customers to maintain and manage their power generations assets. From emergency and back-up power technologies, to demand response programs and Smart Grid applications, Titan Energy is setting a path for the future in energy management. For more information, please 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 Information

  • For more information about Titan Energy Worldwide please contact:

    Jeffrey Flannery
    Titan Energy Worldwide, Inc.
    619-988-5869
    Email Contact