TLA Titan Logix Corp

Titan Logix Corp., (TSX VENTURE:TLA) ("Titan" or the "Company"), an advanced
technology industrial instrumentation and controls company today reported its
unaudited financial results for the second quarter of its fiscal 2013, ended
February 28, 2013.


Financial results for the second quarter of fiscal 2013 reflect Titan Logix
Corp.'s continued successful execution of its strategic plan (including a
concerted effort to further penetrate the crude oil tanker market industry in
the U.S.), its operational strength, and the ongoing customer demand for its
oilfield fluid transport products.


Financial Highlights Summary 

(in Canadian dollars)



                                    Three months ended                    % 
--------------------------------------------------------------              
                                Feb.28, 2013     Feb.29, 2012        Change 
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Sales                         $    4,063,398   $    4,234,301            -4%
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Gross profit (GP)             $    2,227,414   $    2,182,268             2%
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GP %                                      55%              52%            6%
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Earnings before income tax    $    1,218,829   $    1,001,434            22%
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Net earnings                  $      885,175   $      994,368           -11%
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EBITDA                        $    1,249,128   $    1,042,973            20%
----------------------------------------------------------------------------
EPS (diluted)                          $0.03            $0.04           -25%
----------------------------------------------------------------------------
                                                                            

                                     Six months ended                     % 
--------------------------------------------------------------              
                                Feb.28, 2013     Feb.29, 2012        Change 
----------------------------------------------------------------------------
Sales                         $    8,073,353   $    7,632,993             6%
----------------------------------------------------------------------------
Gross profit (GP)             $    4,263,991   $    3,762,161            13%
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GP %                                      53%              49%            8%
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Earnings before income tax    $    2,277,389   $    1,631,520            40%
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Net earnings                  $    1,666,432   $    1,616,605             3%
----------------------------------------------------------------------------
EBITDA                        $    2,344,619   $    1,713,516            37%
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EPS (diluted)                          $0.06   $         0.06             0%
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                                      As at February 28,    As at August 31,
Financial Position                                  2013                2012
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Working capital                         $     10,504,820    $      8,557,406
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Total assets                            $     14,327,163    $     13,234,683
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Long-term liabilities                                Nil                 Nil
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Total equity                            $     13,252,395    $     11,506,962
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Titan's sales outside of Canada, primarily to the U.S., were $1,940,378 in this
second quarter of fiscal 2013, an increase of 2% from sales of $1,895,369 in the
second quarter ended February 29, 2012. This increase is a result of Titan's
concerted effort to further penetrate the fluid transportation tanker market in
the U.S. with its TD80 product. Sales to the U.S. were 48% of Titan's total
revenue in the second quarter of fiscal 2013 compared to 45% in the comparable
period of 2012. Sales in Canada for the quarter ended February 28, 2013
decreased by 10% to $2,123,020 from sales of $2,347,932 in the comparable period
of fiscal 2012.


Total expenses for the first six months of fiscal 2013 were $2,014,875 compared
to $2,143,688 in the same period a year ago. General and administration expenses
were $1,039,211, compared to $1,012,042 recorded in the same period of the
previous fiscal year. Engineering and development expense was $251,936 compared
to $377,168. During the six months ended February 28, 2013, Titan recorded an
increase to capitalized product development costs of $378,836 compared to
$139,805 in the six months of the previous fiscal year. This increase is a
result of additional resources being allocated to new product development as
Titan focuses on the completion and launch of new products. Marketing and sales
expense increased from $730,993 in the previous fiscal year's first six months
to $798,403 for the first six months of fiscal 2013. As a percentage of sales,
operating expenses are 25% for the six month period ended February 28, 2013
compared to 28% for the same period of fiscal 2012. The reduction of operating
expenses as a percentage of sales is primarily due to the increase in revenues
and also the continued focus on controlling of operating costs.


At February 28, 2013 cash and cash equivalents and short term investments were
$7,325,314 compared to $5,760,318 at the end of fiscal 2012. Titan does not have
any debt except for trade and accrued payables.


Business Outlook:

Titan Logix continues to see strong growth in the U.S. markets while the
Canadian market has slowed slightly. Much of the U.S. growth is a result of end
users recognizing the need to have gauging technology that is reliable and
versatile. Titan's TD80 addresses this need.


The Company grew its profits for the first two quarters of fiscal 2013 as
compared to last year. This was due in part to the effective execution of its
strategic plan, resulting in increased market share. New tanker construction in
the Company's primary market has decreased from the peak levels of the previous
fiscal year. It was noted last quarter that this market trend that began at the
end of the last fiscal year was expected to have an impact on Titan's sales.
However, due to the Company's success at increasing market share combined with
an earlier than expected return of stronger OEM sales, the second quarter's
results mirrored the results of the first quarter of this fiscal year. The
Company continues to watch the market's performance and seeks to grow its
business through increased market share.


Titan reports that it is pleased with the results of product testing as the
Company completes the development of new Stiks and other products for release
into current and new markets. The Company is progressing on the development and
deployment of its complete 'In the Field, On the Road, In the Office' solutions
for various markets. Titan is in a strong financial position to advance its R&D
initiatives and to make progress on its diversification strategy through the
purchase of a strategically aligned company. Titan is currently evaluating
specific acquisition and licensing opportunities.


Additional Information:

Titan Logix Corp.'s unaudited financial statements and management's discussion
and analysis for the second quarter of fiscal 2013 as well as its audited
financial statements and management's discussion and analysis for its fiscal
year ended August 31, 2012 are available on SEDAR at www.sedar.com and on the
Company's website, www.titanlogix.com.


About Titan Logix Corp.:

Founded in 1979, Titan Logix Corp. ("Titan" or "the Company") is a high
technology company specializing in Research and Development (R&D), manufacturing
and marketing of advanced technology fluid management solutions. The Company's
products include Guided Wave Radar (GWR) gauges for level measurement and
overfill prevention (particularly for use in mobile tanker applications), level
gauges for storage tanks, burner management for oilfield heaters, and
communication systems for remote alarming and control. The products are
currently used in the oil and gas, waste fluid collection, chemical and aviation
industries. These technologies and their derivatives under development are
applicable to a variety of additional markets which Titan plans to expand into
at the appropriate time. A common practice in many of these markets is the use
of manual methods for measurement and control. Due to safety considerations, the
rising cost of many fluids, awareness and concerns about the environment and
technological advancements enabling better operational efficiencies, we are
experiencing an increased demand for our advanced technology products. We
anticipate this demand will continue as we pursue expansion into other markets.


The products we manufacture are part of a complete asset management solution.
The full solution consists of our own market leading products integrated with
best-in-class third party solutions to enable our customers to benefit from
complete fluid management, throughout each stage of their fluid handling
processes.


This is captured by our slogan "Advanced Technology Fluid Management Solutions,
In the Field, On the Road, In the Office"(TM).




--  In the Field: "In the Field" refers to Titan's solution offerings for
    storage tanks and process vessels. 
--  On the Road: "On the Road" refers to Titan's solution offerings for
    mobile tanker trucks and trailers. 
--  In the Office: "In the Office" refers to Titan's solution offerings that
    enable customers to monitor their fluid assets from the convenience of
    their dispatch center or other back office environment through a wired
    or wireless connection. 



Titan Logix Corp. is a public Company listed on the Toronto Venture Stock
Exchange and its shares trade under the symbol, TLA.


This news release contains certain statements with information that may be
forward-looking and subject to unknown risks and uncertainties. The actual
results, performance and achievements of Titan Logix Corp. may differ materially
from the results, performance and achievements expressed or implied by such
forward-looking statements. These forward-looking statements may not relate
strictly to historical or current facts. They represent management's views as of
the date of this press release and we assume no obligation to update them. We
caution you not to place undue reliance on these forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Titan Logix Corp.
Greg McGillis, P.Eng.
President and Chief Executive Officer
(780) 462-4085
invest@titanlogix.com
www.titanlogix.com

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