Titan Division Continues Forward Progress Entering Fiscal 2008 With Strong Management and Growing Customer Base
Sep 10, 2007 - Titan Global Holdings, Inc. ("Titan") (OTCBB:TTGL), a high growth diversified holding company, announced today record bookings of $7.6 Million for its Electronics and Homeland Security Division in the fourth quarter of fiscal 2007. Titan previously announced revenue guidance indicating this division will generate revenues of $30 million with a net operating income of $1 million for the fiscal year ended August 31, 2008.
Titan's Electronics and Homeland Security Division includes Titan PCB East, Inc. and Titan PCB West, Inc. These companies specialize in the manufacturing of advanced circuit boards and other high-tech products for military and other major clients. Titan announced that the division will realize this record performance through continued efforts to increase its market share in the quick-turn market through its successful "rep-centric" sales organization. Additionally, the division expects to grow is valued military spec business as well.
"We closed our fourth quarter of fiscal year 2007 with record bookings for the quarter and record bookings in the month of August as well," said Curtis Okumura, President of Titan's Electronics and Homeland Security Division. "Our team has worked tirelessly in reducing operating costs and enhancing operations. This has enabled our dedicated sales force to increase our presence in key markets."
During fiscal 2007 Titan Electronics and Homeland Security Division added three proven industry veterans to its seasoned management team. Titan hired Mike Kadlec as Senior Vice President of Sales during the second quarter of 2007, Mike Berg as Vice President of Operations at Titan East during the third quarter of 2007 and Ed Peterson as Vice President of Operations at Titan PCB West during the fourth quarter of 2007.
"Titan's success as a diversified holding company is a direct result of the tremendous talent and energy of our teams in each business unit," said Bryan Chance, President and Chief Executive Officer. "Curtis and his team have expanded their footprint in difficult market conditions. Additionally, Titan PCB has improved operations and on-time deliveries creating more value for our customers and shareholders alike. We look forward to a profitable 2008 in the Electronics and Homeland Security Division."
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.
