MINNEAPOLIS, May 14, 2012 /PRNewswire/ -- Titan Energy
Worldwide, Inc. (OTC:TEWI), a leader in distributed power
generation products and intelligent energy management services,
today announced that the Company has posted a profit for the month
of April on record revenues of nearly $2
million. Last year, the company averaged a little less
than $1.2 million in monthly
sales. For April, equipment sales were more than $1.5 million and service sales were a record
$500,000 for the month.
Stated Jeffrey Flannery, Chief
Executive Officer of Titan Energy Worldwide, Inc., "Titan Energy
has opened the second quarter in very strong fashion, posting our
first profitable month in the Company's history. Sales in
both equipment and service segments are reaching record highs, in
service we recorded our first month of $500,000 or more in sales. We expect these
record sales numbers in April to be followed by equally strong
results in May and June."
Especially strong sales of equipment in the Midwest has been
largely responsible for the record revenues and profits. The
Company has also experienced a broad expansion of its national
accounts business with major retail operators across the United
States.
"Equipment sales in the Midwest are breaking the $1 million mark in both April and May, a sign of
what we believe is a warming up of the economy and a growing
acceptance of the Generac Power Systems generators that we
exclusively sell and service in this territory. We believe
strongly in the quality and innovation that Generac brings to the
generator marketplace, and its leadership in
developing natural gas fueled generators. The natural gas
generators are finding a niche among many industrial and commercial
business segments," stated Tom
Vagts, President of Titan Energy Services, Inc.
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 backup
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.
For more information about Titan Energy Worldwide please
contact:
Jeffrey Flannery
Titan Energy Worldwide, Inc.
952-960-2381
jflannery@titanenergy.com
SOURCE Titan Energy Worldwide, Inc.