Titan Energy Worldwide, Inc., a leading manufacturer, marketer and servicer of energy generation products and services, announced record equipment bookings and new service contracts for the month of May. The company reported approximately $608,000 in equipment bookings, a 37% increase over the previous highest month in 2009.
The Company also told investors that the value of new service contracts reached a record high for 2009 with approximately $190,000 of new contracts, a 40% increase over April, which previously held the record. Now, monthly new service contracts in 2009 are almost double the average monthly figures reported during last year.
Tom Vagts, Chief Operations Officer of Titan Energy Systems, stated, “These impressive results for May demonstrate that Titan Energy continues to operate strongly, even during these challenging times. Customers are trusting in Titan to provide and service the power systems that support their critical operations. We believe this is a good sign that we will have strong third and fourth quarters.”
Kyle Gillett, Service Manager for Titan Energy Systems, commented, “We have been experiencing strong growth in new service contracts for several months now. At this rate, we expect to surpass total numbers for 2008 within the next few months. We have been gaining the attention and trust by many of the larger regional and national customers, a testament to the quality of work and commitment that our service team delivers.”