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Titan Energy Worldwide (OTCBB: TEWI) is a global manufacturer, distributor, and service provider for power generation equipment, emergency power, and specialized mobile utility systems to fire stations, police stations, the military, hospitals, schools, municipalities, and businesses. Recent highlights include: 1Q08 sales of $1.2M declined by $1.4M from the year-ago period as the Company executed on its strategy to reduce the sale of low-margin equipment Strong guidance issued for 2Q08, including $2.7M revenues (+125% from 1Q08), reduction of operating losses by more than $0.4M, and profits expected for Titan Energy Systems subsidiary Recently Presented Sentry 5000 Disaster Response Mobile Utility System for the New York State Department of Transportation, Nassau County s Sheriff Department, and New York area Emergency Management Officials with high probability of future sales and business development opportunities arising from these presentations (www.titansentry.com) 16-July-2008: The Company announced preliminary financial results for Q208, in which it expects 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. 14-July-2008: The Company announced that its subsidiary, Titan Energy Systems, has been awarded three new contracts to supply commercial emergency power systems to customers in Iowa, Wisconsin & Minnesota. Titan Energy Systems is a full line sales and service provider of power generation equipment with headquarters in Minnetonka, Minnesota and satellite offices in Nebraska and Iowa. The purchase orders are expected to contribute $138,760 in revenues that will be realized when the completed systems are shipped. Titan has received an order for two 200kW diesel generator standby units to supply emergency power to the Sara Lee Foods facility located in Storm Lake, Iowa. These systems incorporate a 6.8 liter diesel engine supplied by Generac Power Systems, Inc. of Waukesha, Wisconsin and will be installed outdoors in a sound attenuated weather-proofed enclosure. These engine generators can run for 24 hours without refueling their 438 gallon double walled fuel tank. Both systems outputs will be 240 volts, controlled by Generac GTS automatic transfer switches, rated at 1000 amp. Titan has also received an order to supply emergency power to the University of Wisconsin - Superior campus library, the Jim Dan Hill Library, as part of a major renovation project starting in July of 2008. Titan will supply a natural gas 130kW standby generator system manufactured by Generac Power Systems. This unit will be installed outdoors in a Level II Sound Enclosure for quiet operation and powered by a 6.8 liter natural gas engine. There will be (2) 150 amp GE/Zenith automatic transfer switches installed with the unit to continually monitor the incoming utility to quickly restore power should an outage occur. In addition, Titan Energy Systems received an order for a natural gas 35 kW emergency power system to the Chu Vision Institute of Edina, Minnesota. The standby unit will supply back up power to the state-of- the-art eye center, and per code, will provide emergency power to the medical facility within 10 seconds of an outage. 11-June-2008: The Company reported preliminary 2Q08 revenues of $2.5 million, which is more than 2X the $1.2M recorded during 1Q08. The Company also reported a strong order backlog and favorable mix of sales toward higher margin products. 9-June-2008: The Company announced that it will supply five emergency backup engine generators to the Minnesota Department of Homeland Security & Emergency Management over the next several months. The emergency power supply will back-up radio towers used for 911 and emergency communication systems and ensure uninterrupted service for five Scott County communities during power surges, outages and rolling blackouts. 25-February-2008: The Company closed a $6.5 million private placement of Series D Convertible Preferred Stock on January 31, 2008, bringing the total amount of capital raised to $8.3 million. The total capital raised includes $1.8 million in bridge financing from the period of April to July 2007. On October 1, 2007, the bridge financing converted to 3.9 million shares of common stock, providing the Company with working capital and allowing it to retire about $3.8 million in outstanding debt. With the completion of this offering and the bridge financing, the company has 15.4 million shares of common stock issued and outstanding, 657 shares of Preferred Series D which convert to 6.6 million shares of common stock, and 7.8 million warrants, which if exercised, convert into 7.8 million shares of common stock.
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