Robert (& Others),
My company handles Asian stockholder relations for Titan. I'd like to correct a couple of errors, and provide some additional information.
First, Titans do not sell for 50k minimum. Titan's standard models range from $23,995 to $28,495. Custom order jobs, which take 6-8 weeks to produce, range considerably higher.
Second, the figures given have several inaccuracies. Correct revenue figures are:
1995 - $625,000 (first year of operation)
1996 - $5.0M
1997 - $13M
1998 - $33.54M (Projected)
1997 income dipped slightly into the negative, due to heavy expenditures necessary to increase production capacity. Titan added 64,000 square feet of manufacturing space in 1997, including a state of the art paint facility, which brings all finishing in-house. (Titan offers 400 paint finish choices and 20 different frame powder coatings.) The new manufacturing plant will accommodate sales projections through the end of 1999.
The company also established a full R&D facility. This division has engineered proprietary components, including a high-torque clutch assembly, new front ends, transmissions, and machined billet aluminum parts that will become standard on all Titans in 1998. This will eliminate the single greatest restraint on manufacturing - availability of parts that meet Titan's very high quality standards.
Titan expects to move into solid profitability in 1998. President Patrick Keery has explicitly stated that this goal could have been reached in 1997, but not without compromising quality and manufacturing capacity goals. It should be noted that Titan is positioning for long term growth and profitability, not instant bucks.
I could quote dozens of product reviews for Titan, but will stick to one: in March 1998, Cycle World published the results of a test covering a full range of V-twin motorcycles. The verdict - The Titan Gecko was declared "the best of the American Twins".
Please note that Titan will enter NASDAQ level 1 (full reporting) status by mid-1998. This will give the stock much greater exposure.
Sorry to take up so much space here, but I think it's important to provide accurate information. If you would like a full investor's information package, please e-mail me at steven@newprint.com |
