Titan’s Updated Guidance to Include Strategic Outlook and Projected Fiscal 2008 Revenues Following Latest Strategic Achievements
Sep 04, 2007 - Titan Global Holdings, Inc. (OTCBB:TTGL), a high-growth diversified holding company, announced today that on September 5, 2007 the Company will updated its fiscal 2008 revenue guidance and define the Company's strategic vision for the 2008 fiscal year. Titan's updated revenue guidance will reflect the Company's recent strategic achievements, including the launch of Titan Card Services and the pending acquisitions of Appalachian Oil Company (Appco) and USA Detergents.
Titan previously issued revenue guidance for fiscal 2008, projecting record-setting revenues in excess of $580 million following the formation of Titan Global Energy Division and the announced milestone acquisition of Appco, an established petroleum product distribution company that generated revenues of approximately $400 million in fiscal 2006.
"Within the next several weeks we expect to close the acquisition of Appalachian Oil Company and likely the acquisition of USA Detergents," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "In addition, this morning we announced the formation of Titan Card Services, which we expect to have a profound impact on our financial performance for the fiscal year 2008. We expect 2008 to be a transformative year for Titan as we continue to capitalize on high-growth revenue opportunities that we believe will build significant and long-term shareholder value."
The forecasted growth also reflects the continued expansion of Titan's Communications division and technology portfolio of companies, through both internal growth and growth achieved through acquisitions.
"We have spent a considerable amount of energy with our divisional management to explore fiscal 2008 budgets, opportunities for growth and cross divisional opportunities to leverage our family of brands and talented management team," said Scott Hensell, Chief Financial Officer of Titan Global Holdings.
Titan Global Brands
Titan recently announced the formation of Titan Global Brands to integrate, protect and expand brand management capabilities and to leverage and optimize growth from the Company's distribution channels. Through its diverse family of subsidiaries, Titan owns or manages more than 100 trusted brands that are distributed through efficient, overlapping and expansive distribution channels. Titan's distribution channels reach over 65,000 retail locations throughout the United States and in over 200 countries around the world.
About USA Detergents
USAD distributes mixed truckloads of nationally-recognized laundry, cleaner and candle brands at attractive prices and in unique merchandising configurations by leveraging brand extensions and licensing agreements with consumer product conglomerates. USAD's brands include Xtra, Arm & Hammer, Aim, Close-up, Pepsodent, Betty Crocker, Snapple, Fine Care, Brillo, Touch of Glass, Fabulous and Oxymax. USAD's distribution footprint serves small and mid-sized retailers, wholesalers and distributors that serve metropolitan areas in the U.S. and internationally.
USAD generated revenues of $56.8 Million in 2006. As of today, USAD's backlog is $3.6 Million and its sales trend is positive. USAD manufactures its products at a plant of 206,000 square feet in Hillside, New Jersey. USAD distributes its products from a 175,000 square foot warehouse in Brunswick, New Jersey. Its corporate headquarters is in offices of 10,000 square feet in Brunswick, New Jersey. USAD has 71 employees.
About Titan Global Holdings
Titan Global Holdings, Inc. is a high-growth diversified holding company with a dynamic portfolio of companies engaged in emerging telecommunications markets, advanced technologies and energy. In its last fiscal year Titan generated in excess of $109 million in revenues on a consolidated basis.
Titan's Oblio Telecom Inc. ("Oblio") telecommunications subsidiary, based in Richardson, Texas, is a market leader in prepaid telecommunications products and the second largest publicly-owned international telecommunications company focused on the prepaid space. Oblio leverages strategic agreements with Tier 1 telecommunications leaders Sprint and Level3 to supply its brand-name prepaid calling cards. Annually Oblio sells an estimated 35 million of its brand-name prepaid calling cards through its established distribution channels estimated at more than 60,000 retail outlets.
Titan Wireless, Inc. ("T Wireless") is Titan's wireless subsidiary and is a mobile virtual network operator ("MVNO"). T Wireless sells its MVNO prepaid wireless products and wireless services through Oblio's established distribution channels. Titan's Electronics and Homeland Security division specializes in advanced manufacturing processes to provide commercial production runs and quick-turn delivery of printed circuit board prototypes for high-margin markets including Homeland Security and high-tech clients.
For more information, please visit: www.titanglobalholdings.com. For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/titan/ or http://www.b2i.us/irpass.asp?BzID=1314&to=ea&s=0. To view current stock quotes and news, visit http://www.trilogy-capital.com/tcp/titan/quote.html. To view an investor fact sheet about the company, visit http://www.trilogy-capital.com/tcp/titan/factsheet.html.
Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TTGL could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
