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 third quarter of its fiscal 2013, ended May
31, 2013.


In the third quarter of fiscal 2013 Titan Logix Corp. experienced an increase in
revenue and net earnings as compared to the previous two quarters of this fiscal
year, though this was a decrease from the third quarter of fiscal 2012. EBITDA
for the third quarter of fiscal 2013 decreased compared to the previous year
primarily due to decreased sales and additional expenditures incurred to support
upcoming new burner management products. New tanker construction in Titan's
primary market (oil industry tankers) has decreased from the peak levels of the
previous fiscal year. In spite of this decrease in market activity the Company
has sustained year to date sales and increased EBITDA compared to fiscal 2012.




                         Financial Highlight Summary                        
                            (in Canadian dollars)                           
----------------------------------------------------------------------------
                 Three months ended                Nine months ended        
------------------------------------       --------------------------       
                May 31,     May 31,      %      May 31,      May 31,      % 
                   2013        2012 Change         2013         2012 Change 
----------------------------------------------------------------------------
Sales        $4,576,469  $5,177,377    -12% $12,649,822  $12,810,370     -1%
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Gross profit                                                                
 (GP)        $2,602,604  $2,766,679     -6% $ 6,866,595  $ 6,528,840      5%
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GP %                 57%         53%     6%          54%          51%     8%
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Earnings                                                                    
 before                                                                     
 income tax  $1,279,950  $1,720,418    -26% $ 3,557,339  $ 3,351,938      6%
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Net earnings $  959,962  $1,162,132    -17% $ 2,626,394  $ 2,778,737     -5%
----------------------------------------------------------------------------
EBITDA       $1,311,702  $1,766,407    -26% $ 3,656,321  $ 3,479,923      5%
----------------------------------------------------------------------------
EPS                                                                         
 (diluted)   $     0.04  $     0.05    -20% $      0.10  $      0.11     -9%
----------------------------------------------------------------------------
                                                                            
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                                                      As at            As at
Financial Position                             May 31, 2013  August 31, 2012
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Working capital                             $    11,549,283  $     8,557,406
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Total assets                                $    15,723,905  $    13,234,683
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Long-term liabilities                                   Nil              Nil
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Total equity                                $    14,212,356  $    11,506,962
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Titan's sales outside of Canada, primarily to the U.S., were $2,452,116 in this
third quarter of fiscal 2013, a decrease of 12% from sales of $2,782,586 in the
third quarter ended May 31, 2012. This decrease is primarily a result of new
tanker construction in our primary market decreasing from the peak levels of the
previous fiscal year. Sales to the U.S. were 54% of Titan's total revenue in the
third quarter of fiscal 2013 comparable to 54% in the same period of 2012. Sales
in Canada for the quarter ended May 31, 2013 decreased by 11% to $2,124,353 from
sales of $2,394,791 in the comparable period of fiscal 2012. Reduced drilling
activity during spring break up and a reduction in new tanker construction had
an adverse impact on Canadian sales.


Total expenses for the first nine months of fiscal 2013 were $3,357,206 compared
to $3,194,855 in the same period a year ago. General and administration expenses
were $1,736,345, compared to $1,556,558 recorded in the same period of the
previous fiscal year. Engineering expense, net of product development costs, was
$413,053 compared to $564,296. During the nine months ended May 31, 2013, Titan
recorded an increase to capitalized product development costs of $717,079
compared to $179,770 in the nine 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 $1,160,860 in the previous fiscal
year's first nine months to $1,263,278 for the first nine months of fiscal 2013.



At May 31, 2013 cash and cash equivalents and short term investments were
$8,876,963 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 continues to invest in U.S. market expansion plans where increased growth
is attainable and explore opportunities to sell its products beyond North
America. Short term growth for fiscal 2013 has been constrained by a reduction
in market activity, primarily in Canada. Therefore, while new product
development presents long term opportunities for 2014 and beyond, Titan expects
to see a decrease in revenue for the fourth quarter compared with the peak
levels of 2012. 


Titan reports that it is progressing on the development and deployment of its
complete 'In the Field, On the Road, In the Office' solutions for various
markets and applications. The Rack Control Module (RCM) was launched, which
enables TD80 customers to load at loading racks, thereby expanding the use and
market reach of the TD80 solution. The Company is completing the development of
the next Stik products for new markets. Titan is in the final stages of testing
and field trials for these products.


Additional Information:

Titan Logix Corp.'s unaudited financial statements and management's discussion
and analysis for the third 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.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


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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