With the increased profile and prestige of the U.S. military, any new development involving our men and women in uniform and a small, building company is newsworthy. Also, at a time when individuals, companies and government agencies are choosier about the means of energy they employ, it’s significant when small companies convince those power-users that they are doing something right.
Only four years old, Titan Energy Worldwide Inc. (OTCBB:TEWI) scored something of a coup in late June when it was named to provide backup power engine generation systems to communications towers at military installations throughout the United States. The initial portion of the $600,000 contract calls for nine generators straight away, and another 30 over the next six to nine months, to be powered by diesel, liquid propane or natural gas depending on the location of the generators.
Titan Energy claims a leadership role in making, marketing and servicing energy generation products and services, including development and support for new energy-related technology to meet the growing global demand for clean, efficient, energy solutions.
The company was also in the news earlier in the week when a major retailer selected Titan to provide monitoring on backup generators at five of the retailers’ store in Minnesota (at press time, the client has not been identified).
In May, TEWI won a contract to provide preventative maintenance for a national wireless company. Titan Energy will provide repair and routine maintenance for about 95 emergency backup engine generator systems at cellular towers throughout Nebraska.
Titan, its website boasts, serves many industries that require dependable backup power, including health care facilities, financial institutions, data centers, communications companies, hotels, schools and manufacturing facilities. TEWI’s mobile utility systems were developed to support first responders, relief agencies, homeland security, the department of defense and municipalities.
And this favorable news is making its presence felt on the company’s bottom line. In the last quarter for which financials are reported – the one ending in March – Titan Energy showed gross profit $321,000 on revenues of $1.689 million, only slightly down from the final quarter of 2008, when the gross profit registered at $328,000 on more than $2 million.
The stock price of TEWI climbed last week to a new 52-week peak of 40 cents, having dropped to a depth of just over five cents in the dog days of March. In the uncertainty of the markets following that peak, the price slipped to 22 cents on the day the contract with the military was announced, something to give alert small cap watchers pause.
AllPennyStocks.com
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