$TEWI Titan Energy Worldwide Continues to Show Rec
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$TEWI Titan Energy Worldwide Continues to Show Record Profits in May 2012
MINNEAPOLIS, July 9, 2012 /PRNewswire via COMTEX/ -- Titan Energy Worldwide, Inc. (OTC: TEWI ), a leader in distributed power generation products and intelligent energy management services, today announced that the Company posted record sales of more than $2.1 million in the month of May and its largest profit to date of nearly $100,000. Service sales continued to grow rapidly and closed near $600,000 for the month of May, an increase of 20% over the $501,000 we generated in April, the previous company high.
Stated Jeffrey Flannery, Chief Executive Officer of Titan Energy Worldwide, Inc., "We are fully executing on our growth strategy which is to increase our equipment sales and expand our higher margin service programs on a national basis. We have successfully developed our national accounts business into a program that has grown from $40,000 in January to more than $300,000 in monthly revenues in the month of May.
"The Titan Energy brand is beginning to take hold in the onsite power industry. We now service two major retail companies nationwide, managing onsite power at nearly 2000 stores. The technological innovations that we have brought to this industry have made us one of the most efficient and cost effective service providers in the industry. Now that our service infrastructure is in place and our reputation as a leader in onsite power management is established, our goal is to bring on more national accounts," added Mr. Flannery.
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 .