Titan Global Holdings PCB Divisions achieve record June shipments of $2.1M
Jul 12, 2006
Increase in plant capacity contributed to sales & marketing successes
Titan Global Holdings, Inc. ("Titan") (OTCBB: TTGL) announced that its PCB divisions achieved a significant record by shipping in excess of $2.1 million during the month of June, 2006. This is a substantial increase over recent months and a substantial increase over the comparable year ago period.
Later this week, Titan will report its consolidated financial results for the third quarter ending May 31, 2006, which will include the operating results of its much larger Oblio Telecom division.
Last month, Titan announced that Titan's PCB West division had increased production capacity by approximately 20% through process redesign and expanded use of automation to support its increased bookings. The increased capacity enabled Titan PCB West to capture incremental business.
In recent months, Titan PCB continued to diversify its customer base by adding twelve new customers that are leading innovation in various industries. Titan's Amesbury, Massachusetts plant, which is one of a limited number of PCB manufacturers with the US Department of Defense 31032 certification, continues to add new customers within the U.S. defense industry.
"Various changes we made over the last year to personnel, facilities, and our customer mix are continuing to bear fruit. I am delighted with these operating and financial results and expect to achieve even better results in the future," said Curtis Okumura, Chief Executive Officer of Titan Global Holdings, Inc. "These recent successes will enable us to continue to improve our operating and financial efficiencies as a leading quick-turn printed circuit board manufacturer while we continue to deliver high quality service to our customers."
"Titan PCB continues to build momentum," added Bryan Chance, Chief Financial Officer of Titan Global Holdings, Inc. "Given our significant financial progress, Titan PCB is poised to exploit opportunities for both organic and strategic growth. Our team is committed to the pursuit of all opportunities that create shareholder value."