Titan Energy Worldwide, which has been playing a lead role in improving nation's electrical utility grid, has announced the preliminary financial results for the second quarter of 2010. An important player in distributed power generation products and intelligent energy management services, Titan Energy reported a record quarter of more than $4 million in gross sales, which according to the company is a straight 92 percent increase over 2009’s second quarter. June proved to be a record month for the company in terms of revenue, which was estimated at a hopping $2 million. The Company plans to file its complete quarterly financial statements on or before Aug. 15, 2010.

Titan also reported that its operations proved cash flow positive for the second quarter of 2010. The company informed that this is first time in its history, that the Company's has achieved this milestone.

Titan Energy officials disclosed that cash provided by operations in the 2nd Q of 2010 was $3,496, compared to a cash burn of $214,053 in the same quarter last year. The company attributed this improvement in cash flow mainly to the increased sales revenues and higher margins overall on sales.

The company that set out a tough goal of becoming cash flow positive within 6 months, has successfully accomplished its goals. Naturally, the top management has every reason to be proud of.

“We are proud to announce another outstanding month and quarter for Titan Energy, including meeting the goal we set out to achieve 6 months ago, which was to be cash flow positive by June 30, 2010. This is a very important step for Titan Energy as we seek to achieve profitability,” Jeffrey Flannery, CEO of Titan Energy Worldwide.

“The first two quarters of the year have historically been slower for the company due to weather and construction activity in the Midwest. Looking ahead we have a strong backlog of projects in all of our territories, and still believe we are on course to end the year with triple digit growth over 2010. At the halfway mark through the year, we have recorded $7 million in revenues, an 86 percent increase over the first half of 2009. Looking ahead, in the Midwest we are closing some of the largest single contracts to date. We are seeing tremendous advancements in our Florida and our New York/New Jersey operations have established a strong backlog of projects we hope to fulfill this year. The second half of the year is going to be very exciting for Titan Energy,” added Mr. Flannery.