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 2014, ended
February 28, 2014.


Financial Highlight Summary
(in Canadian dollars)



----------------------------------------------------------------------------
                               Three months ended          Six months ended 
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                            Feb. 28,     Feb. 28,     Feb. 28,     Feb. 28, 
                                2014         2013         2014         2013 
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Sales                    $ 3,800,893  $ 4,063,398  $ 8,233,210  $ 8,073,353 
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Gross profit (GP)        $ 1,979,829  $ 2,174,173  $ 4,241,238  $ 4,161,954 
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GP %                              52%          54%          52%          52%
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Earnings before income                                                      
 tax                     $   722,875  $ 1,218,829  $ 1,848,398  $ 2,277,389 
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Net earnings             $   539,514  $   885,175  $ 1,375,872  $ 1,666,432 
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EBITDA                   $   816,644  $ 1,249,128  $ 1,986,647  $ 2,344,619 
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EPS (diluted)            $      0.02  $      0.03  $      0.05  $      0.06 
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                                                        As at          As at
                                                 February 28,     August 31,
Financial Position                                       2014           2013
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Working capital                                 $  13,133,252  $  12,184,559
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Total assets                                    $  18,568,768  $  16,770,570
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Long-term liabilities                           $     409,456  $     366,104
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Total equity                                    $  16,520,870  $  15,041,798
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For the first six months of fiscal 2014 ended February 28, 2014, sales were
$8,233,210, up by 2% from sales of $8,073,353 in the first six months of fiscal
2013. This increase is primarily attributable increased to sales of the
Company's "On the Road" solution offerings for mobile tanker trucks and trailers
to Original Equipment Manufacturers (OEMs) and increased retrofit sales in the
first quarter of fiscal 2014, offset by the reduced sales in the second quarter
of the fiscal year. Titan's sales outside of Canada, primarily to the U.S., were
$1,880,200 in this second quarter of fiscal 2014, a decrease of 3% from sales of
$1,940,378 in the second quarter ended February 28, 2013. Sales in Canada for
the second quarter of fiscal 2014 decreased by 10% to $1,920,693 from sales of
$2,123,020 in the same period of fiscal 2013. Sales for the quarter ending
February 28, 2014 reflect a decrease from the most recent quarter and from the
comparable period of the previous year. This is primarily a result of a
short-term decrease in new oil industry tanker construction seen during the
second quarter due to an unusually longer operational shut down of a number of
original equipment manufacturers (OEMs) over the Christmas season, and a
reduction in product sales in the Saskatchewan area. 


Total expenses for the first six months of fiscal 2014 were $2,509,026 compared
to $1,912,838 in the same period a year ago. This increase is primarily due to
costs associated with increases in wages, higher than usual professional fees
related to the FGI 351 recall, network upgrades, and rent expense. During the
six months ended February 28, 2014, Titan recorded an increase to capitalized
product development costs of $466,130 compared to $378,836 in the comparable
period of fiscal 2013. This increase is a result of additional resources being
allocated to product development of new and innovative products including a next
generation burner management system. 


At February 28, 2014 cash and cash equivalents and short term investments were
$10,619,248 compared to $9,257,177 at the end of fiscal 2013. Titan does not
have any debt except for trade payables, accrued liabilities and finance lease
obligations.


Business Outlook

Early installations of our latest commercialized Stik products - Av-Stik,
Chem-Stik and UsedOil-Stik - showed the need for some minor modifications
resulting in a slower than expected product launch. With completion of these
modifications, we are seeing a growing confidence in these products resulting in
orders received from customers in the targeted markets.


Titan is committed to focused and targeted research and development. Our
continued development of new and innovative products, including additional Stik
gauges, will drive our success. Over the last three months, we have strengthened
our research and development team with the hiring of additional engineering
staff. 


North American field trials of MechTronic's advanced fluid level gauging system
for refined fuel tankers are scheduled to begin in April 2014. Titan staff will
receive installation and operational training from MechTronic's engineers. Field
performance data will be used in preparation for the full commercial launch
later this year.


While we have seen a slight increase in sales over the first six months of this
fiscal year compared to the first six months of fiscal 2013, we expect to see
sales in the upcoming quarter to remain at current levels. This will be a
decline from the same quarter last year, bringing increased urgency to the sale
of recently released products and the introduction of new products.


Additional Information

Titan Logix Corp.'s unaudited financial statements and management's discussion
and analysis for the second quarter of fiscal 2014 as well as its audited
financial statements and management's discussion and analysis for its fiscal
year ended August 31, 2013 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. 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.


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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