Titan Shareholders Told of Plans for Continued Expansion of Sales, Profits
14 May 1999
Titan Shareholders Told of Plans for Continued Expansion of Sales, Profits . . . Revenue of $40 - 45 Million Anticipated in 1999PHOENIX, May 13 -- In his informal remarks following the company's annual shareholders' meeting on Wednesday, May 12, Chairman and Chief Executive Officer Frank Keery said that Titan is planning to continue its major growth in sales and profits in 1999. "We expect sales to reach the $40- to $45-million level, with operating profits projected in excess of $2 million," said Keery. Keery emphasized that Titan's basic philosophy was to continue to build strength and value at the company with the expectation that, over the long term, the investment community will come to appreciate the potential represented in Titan. At the meeting, shareholders elected Messrs. Frank Keery, Patrick Keery, Tony Turner, Harry Birkenruth and Mrs. Barbara Keery as company directors. In addition, the accounting firm of PricewaterhouseCoopers was confirmed as independent auditors. Founded in 1994, Titan Motorcycle Co. of America is a premier designer, manufacturer and distributor of high-end, American-made, V-twin engine motorcycles marketed under various Titan trademarks. Titan's unique, hand-built configurations, including the Gecko(TM), Roadrunner(TM), and Sidewinder(TM) represent the finest available in custom-designed, volume-produced, performance motorcycles. Manufactured at the company's 64,000 square-foot corporate headquarters and manufacturing facility, and available with a variety of customized options and design, Titan large displacement motorcycles are sold through a network of over 80 domestic and international dealers. NOTE: Any statements released by Titan Motorcycle Co. of America that are forward-looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements invoke risks and uncertainties that may affect the company's business prospects and performance. These include economic, competitive, governmental, technological and other factors discussed in the statements and/or in the company's filings with the Securities and Exchange Commission.