September 4, 2008
Titan Energy Worldwide Subsidiary, Titan Energy Systems, Reports Record Bookings for August
Titan Energy Worldwide (OTCBB: TEWI) announced today that its wholly owned subsidiary, Titan Energy Systems (TESI), has reported that new bookings for equipment sales in the month of August are the highest on record for the company since its acquisition in 2006. TESI reported new bookings of $923,613 for the month of August compared to $696,000 recorded for the previous highest month.
John Tastad, CEO of Titan Energy Worldwide, stated, "2008 bookings of new equipment through August have nearly equaled our bookings for the entire year of 2007. With our current pipeline of new projects, we are expecting a record year for Titan Energy. This ties into our strategy to sell larger, more complex projects, which brings not only greater revenues but potentially higher margins to the Company. We believe this will help us achieve our goals for 2008 which is to show strong growth for the company and improve our margins."
TESI is an authorized dealer and provides sales and support for generators and other products in four states in the Midwest. TESI offers a full range of gas and diesel powered products including standby power systems, modular power systems, residential, light commercial and telecommunications systems.
More information on Titan Energy Worldwide Inc. and Titan Energy Services can be found 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 TEWW has no specific intention to update these statements.
Contact: Julie Kane Titan Energy Worldwide, Inc. (248) 446-8557
SOURCE: Titan Energy Worldwide