Appco Produced Revenue of $420 Million, $406 Million, and $317 Million for the Trailing Three Years
December 04, 2007
Titan Global Holdings, Inc. (OTCBB:TTGL), a high-growth diversified holding company, filed the hindsight audit of Appalachian Oil Company ("Appco") with the Securities and Exchange Commission ("SEC"). The audit results of Appco are consistent with Titan's historical revenue guidance on Appco. Appco produced revenues of $385 Million for the eleven months ended August 31, 2007, or $420 Million on an annualized basis, and $406 Million and $317 Million for the twelve months ended September 30, 2006 and 2005, respectively.
This week Titan affirmed revenue and earnings guidance for fiscal 2008. Titan Global Energy is expected to contribute $433 million to Titan's stated overall revenue guidance with a range of $735 to $747 Million for fiscal 2008.
"We were pleased to complete our hindsight audit of the recently acquired Appalachian Oil Company and our filing with the SEC," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "These audits affirm our revenue guidance of $433 Million for fiscal year 2008. With the audit behind us, we are focused on strategic options to leverage Appco's distribution prowess with higher margin biofuel products and optimizing margins on inside sales as well."
Appco is the first acquisition of the Company's recently announced Titan Global Energy, which was formed to aggregate energy assets that can provide significant opportunities for revenue and earnings growth, such as the continued vertical integration of the supply chain, as well as future acquisitions to complement Appco's existing retail and wholesale distribution footprint.
In Late October, 2007, Titan announced its supply agreement with Tate & Lyle to advance the Company's efforts to establish secure sources of biofuels and a higher margin product channel. Tate & Lyle, based in London, is one of the world's leading manufacturers of renewable food and industrial ingredients, with approximately $6 billion in annual revenues.
The agreement was part of the strategic vision set forth by Titan Energy to expand its biofuel product lines and revenues through strategic agreements and acquisitions. The agreement is expected to enhance Titan's core profitability at wholesale and retail distribution, as well as further Titan Global Holdings' mission and commitment to environmental responsibility across its various divisions and business units.
Titan Energy has and will continue to capitalize on initiatives within the energy sector that can provide significant opportunities for revenue and earnings growth. Titan is seeking acquisitions to complement Appco's existing retail and wholesale distribution footprint, which currently reaches more than 160 petroleum and fuel product dealers in the southeastern United States, along with its 56 convenience store locations.
Appco's strong revenue base and storied 84-year history provides Titan with an ideal platform company for further expansion of its energy efforts. Furthermore, Appco's management team has more than 125 years experience in the petroleum and convenience store industry. Titan will preserve and leverage Appco's industry-leading management team.
About Titan Global Holdings
Titan Global Holdings is a diversified holding company with a dynamic portfolio of subsidiaries spanning international telecommunications, electronics and homeland security, consumer products and energy resources. The Company takes advantage of valuable synergies between its subsidiaries to maximize revenue growth, internal development and strategic acquisitions. In fiscal 2007 Titan generated in excess of $111 million in revenues on a consolidated basis and projects fiscal 2008 revenues up to $747 million.
Titan's operating divisions include the following:
Titan's Telecommunications Division addresses a range of high-growth markets in the telecommunications, wireless and mobile segments. Companies include Oblio Telecom, Inc. the second largest publicly-owned company focused on the international prepaid telecommunications segment, StartTalk, Inc., Pinless, Inc., Titan Wireless Communications, Inc. and Ready Mobile.
The Titan Global Energy Division aggregates traditional and next-generation energy and fuel assets that can provide significant opportunities for growth in one of the world's largest and most critical markets.
Titan Global Brands integrates, protects and expands brand management capabilities to leverage and optimize growth across Titan's worldwide distribution channels. We own or manage more than 100 brands that are distributed through efficient, overlapping and expansive distribution channels.
Titan Card Services capitalizes on the burgeoning multibillion dollar international prepaid money transfer sector. The Card Services division provides a seamless brand extension for Titan's growing family of prepaid products, currently sold through a nationwide network of more than 71,000 retailers.
Titan's Electronics and Homeland Security Division includes Titan PCB East, Inc. and Titan PCB West, Inc. These companies specialize in the manufacture of advanced circuit boards and other electronic products for classified military and defense department customers, and other high-tech clients.
For more information, please visit: www.titanglobalholdings.com.
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Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform 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 rates 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.
