EDMONTON, Alberta, January 19, 2007 - Titan Logix Corp. (TSX Venture: TLA), is pleased
to announce its unaudited financial results for the first quarter ended November 30, 2006.
In its first quarter ended November 30, 2006, Titan reported net earnings of $302,409 compared
to net earnings of $147,092 in the same period in fiscal 2006 – an increase of $155,317. Sales
revenues for the first quarter were $2,309,688 in comparison to $1,663,049 for the same period in
fiscal 2006 – an increase of $646,639. This increase in revenue and profits is attributable to
increased sales of its flagship products.
Titan Logix Corp. reported expenses for the first quarter of $655,066, an increase of $146,833
over expenses for the same period in fiscal 2006 of $508,233. This increase was primarily the
result of a continuation of increased spending on initiatives focused on the Company’s growth
including expansion of its research and development department. Working capital at
November 30, 2006 was $3,552,710, an increase of $582,975 from $2,969,735 at year-end on
August 31, 2006. The Company’s strengthened working capital position is a result of its increase
in net earnings and the issuance of shares through its short form offering enabling the Company
to accelerate the research and development and marketing required to support its objective of
becoming the North American leader in mobile tank level measurement and control.
Titan’s management continues its commitment to maintaining its growth and profitability through
its market penetration and new market development.
The Company’s first quarter un-audited financial results, its management discussion and analysis
as well as its 2006 annual report are available on SEDAR at www.sedar.com.
Titan Logix Corp. also reports that on January 9, 2007 additional incentive options were approved
for an aggregate of 50,000 shares (10,000 shares for each director) exercisable over a five-year
period at a price of $0.25 per share. The exercise price of the options was determined as the
market price of the Company's shares at the time when the options were approved, and all options
have been granted, subject to and in accordance with the Company's Stock Option Plan, as
approved by the shareholders on January 17, 2003.
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 primarily for the oil and gas, chemical and
transportation industries. The Company’s mission is to be the North American market share
leader in mobile tank level measurement and control while maintaining its market interests in
burner management and level gauging.
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:
Les J. Evans, President& Chief Executive Officer
Ph: 780 462-4085 (Edmonton)
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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