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Titan Global Holdings Inc. ("Titan") (OTC BB: TTGL) today announced that its PCB divisions shipped a record $1.8 million during the month of July, 2006. The strong sales were delivered during a usually seasonally slow summer month with four fewer business days. In addition, bookings continue to rise as nine new customers were added during the month of July. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Titan recently 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. During the month of July, Titan PCB West captured nine new customers due to increased capacity and continues to be exposed to additional revenue and customer opportunities.
Titan's <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Amesbury, Massachusetts plant, which is one of a limited number of PCB manufacturers with the US Department of Defense 31032 certification, recently received an additional order from a large existing customer within the U.S. defense industry.
"The changes we made over the last year to personnel, facilities, and our customer mix continue to bear fruit," said Curtis Okumura, Chief Executive Officer of Titan Global Holdings, Inc. "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. "Despite four fewer production days and a summer month that is historically speaking usually 'soft', we maintained strong shipments and increased bookings while maintaining strong profit margins. Our team is committed to the pursuit of all organic and strategic opportunities that create shareholder value."
About Titan Global Holdings Inc. www.titanglobalholdings.com
Titan Global Holdings Inc. (OTCBB:TTGL) is an emerging growth telecommunications and technology company. The company is best known for its Picante and TCC brands marketed through its Oblio Telecom division (www.obliotel.com) which is a market leader in prepaid telecommunications services based in Richardson, Texas. Oblio Telecom provides a broad array of prepaid international calling cards through a distribution network covering an estimated 60,000 retail locations nationwide and in Puerto Rico. The Company is currently strategic partners with two tier one communications providers for its prepaid calling card services and is expanding its capacity to terminate calls internally. Additionally, the Company successfully launched BRAVO Cellular, a prepaid wireless communications division, in its second fiscal quarter of 2006. BRAVO Cellular offers prepaid wireless solutions to a rapidly expanding market segment through a mobile virtual network operator agreement with a tier one communications provider.
The Company also operates Titan PCB, a leading manufacturer of printed circuit boards with facilities in California and Massachusetts. The Massachusetts facility (www.titaneast.com) is 31032 certified by the United States Department of Defense. This facility specializes in military production and rigid flex production. The California facility (www.titanems.com) focuses primarily on innovative prototype, quick-turn and pre-production of high layer count printed circuit boards.
The Company employs more than 200 people in Amesbury, Massachusetts; Fremont, California and Richardson, Texas.