MINNEAPOLIS, July 9, 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 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.
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.
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