SOURCE: Titan Energy Worldwide

April 16, 2009 09:39 ET

Titan Energy Worldwide Reports 1st Quarter 2009 Sales Revenues Up 45% Over Same Quarter Last Year

Revenues for March 2009 Increase 140% Compared to March 2008

MINNEAPOLIS, MN--(Marketwire - April 16, 2009) - Titan Energy Worldwide, Inc. (OTCBB: TEWI), a leader in the manufacturing, marketing and servicing of energy generation products and services, today released preliminary financial results for the month of March 2009 and the first quarter ended March 31, 2009.

The company reported March 2009 sales revenues of $800,000, a 140% improvement over March 2008. Revenues for the 1st quarter of 2009 totaled $1.7 million, an increase of 45% over the 1st quarter of 2008. These figures are subject to review by the Company's auditors. The Company expects to release its audited 2009 Form 10-Q annual report on or before May 15, 2009.

John Tastad, Chief Executive Officer of Titan Energy Worldwide, stated, "Titan Energy was able to post impressive sales revenues in what is traditionally one of our slowest months of the year. As a result we were able to end the first quarter far ahead of last year. We are clearly demonstrating an ability to perform at a high level during these challenging economic times. We are looking forward to a great year in sales."

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 Information

  • For more information about Titan Energy Worldwide please contact:

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