SOURCE: Titan Energy Worldwide

July 16, 2008 10:10 ET

Titan Energy Worldwide Expects Strong Second Quarter Sales Results

2nd Quarter Revenues Up 125%, Operating Losses Cut in Half Compared to 1st Quarter

MINNEAPOLIS, MN--(Marketwire - July 16, 2008) - Titan Energy Worldwide, Inc. (OTCBB: TEWI), a leader in the manufacturing, marketing and servicing of energy generation products and services, announced today preliminary financial results for the 2nd Quarter of 2008.

The Company expects second quarter revenues to be $2.7 million compared to first quarter revenues of $1.2 million, an increase of 125%. Additionally, Management expects to report that the Company's operating losses were reduced by more than $400,000 from the prior quarter. Finally, the company also plans to record a profit for its power generation marketing subsidiary, Titan Energy Systems, in the second quarter.

"These second quarter results demonstrate that our sales efforts are back on track and improving, and that our sales operations are now running more efficiently as planned. We fully expect to finish strongly in 2008," stated Thomas Black, President of Titan Energy Worldwide.

More information on the Titan Energy Systems and its product line can be found at www.titanenergysystems.com

About Titan Energy WorldWide, Inc.

Titan Energy is a leader in the manufacturing, marketing and servicing of energy generation products and services, a major participant in the distributed, renewable, and alternative energy industries, and a leader in 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.

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 please contact:
    Julie Kane
    Titan Energy Worldwide, Inc.
    (248) 446-8557