Edmonton, Alberta, March 27, 2007 - Titan Logix Corp. (TSX Venture: TLA) today announced financial results for its fiscal 2007 second quarter ended February 28, 2007.
For the first half of fiscal 2007, Titan Logix Corp. posted revenue of $4,379,673 and a net profit of
$544,429. These results compare to revenue of $3,381,006 and a net profit of $263,961 for the
first six months of fiscal 2006. This is an increase of 30% in sales revenue and 106% in net
In keeping up with its target, the gross margin was 42.2% for the first six months of fiscal 2007,
up from 40.3% in the same period of fiscal 2006. Titan Logix Corp. is also pleased to state that
expansion into the U.S. market continued at a good pace with 17% of the total sales in this fiscal
half accounted for in the U.S. as compared to 9% in the first half of fiscal 2006.
In the second quarter ended February 28, 2007, the Company posted revenue of $2,069,985 and
a net quarterly profit of $242,020. These results compare to revenue of $1,717,957 and a net
profit of $116,869 in the previous year’s second quarter.
Titan Logix Corp. reported total expenses of $687,602 for this quarter compared to $569,937 for
the second quarter of fiscal 2006.
Working capital on February 28, 2007 was $3,713,203, an increase of $743,468 (up 25%) from
the August 2006 year-end balance of $2,969,735. Cash and cash equivalents on February 28,
2007 were $1,691,881, an increase of $238,959 from the balance of $1,452,922 as at August 31,
“We have a strong revenue picture and a strengthened balance sheet”, said Les Evans, Titan
Logix Corp.’s CEO. “This is due to our improved gross margin, the elimination of the Company’s
debt and an amended agreement with the National Research Council of Canada. Looking to the
future, we are in excellent shape to complement our successful organic growth with strategic
alliances, partnerships and technological exchanges”.
The Company’s unaudited second quarter financial results, its management discussion and
analysis as well as its fiscal 2006 annual report are available on SEDAR at www.sedar.com.
About Titan Logix Corp.:
Titan Logix Corp. is an advanced technology industrial instrumentation and controls company
focused on the design, manufacturing, distribution, product support and servicing of its
instrumentation and automation technologies for the oil and gas, chemical and transportation
industries. The Company’s mission is to be the global market share leader in mobile tank level
measurement and control while maintaining its market interests in burner management and level
Titan Logix Corp.’s range of products includes:
- Guided wave radar liquid gauging and control systems for mobile tankers;
- Electronic burner control systems for atmospheric industrial heaters;
- Mechanical and electronic liquid level gauging systems for storage tanks and process
- Communication and control systems enabling remote telemetry management of site
- Mud level monitoring for oil and gas drilling well control
For further information, please contact:
Investor Relations and Corporate Communications Coordinator
Ph: (780) 462-4085
TSX Venture, TLA
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained in this news release is forward-looking and is subject to unknown risks and
uncertainties. The actual results, performance or achievements of the Company may differ materially from the
results, performance or achievements of the Company expressed or implied by such forward-looking statements.
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