Titan Logix Corp.
TSX VENTURE : TLA

Titan Logix Corp.

December 05, 2007 10:00 ET

Titan Logix Corp. Reports Record Sales and Profits for Fiscal 2007

EDMONTON, ALBERTA--(Marketwire - Dec. 5, 2007) - Titan Logix Corp., (TSX VENTURE:TLA), today released its financial results for its fiscal year ended August 31, 2007.

Sales revenues for the 2007 fiscal year rose by 26% to $8,922,386 from $7,071,349 in fiscal 2006.

The company realized a substantial tax recovery for fiscal 2007 and now reports net earnings before and after income tax. Net earnings before income taxes in fiscal 2007 were higher by 186% as they escalated to $1,260,946 from $440,882 in fiscal 2006. Net earnings after income taxes were $2,930,088 after recognizing a substantial future income tax recovery of $1,669,142 for the 2007 fiscal year. The gross margin grew from $2,801,541 in 2006 to $4,075,683 in 2007. Basic earnings per share rose from $0.03 in the previous year to $0.13.

"Our sales revenues, profits and margins have grown at a good pace over the past four years," said Les J. Evans, President and CEO of Titan Logix Corp. "We are proud of our achievements and confident about the future. This steep rise in our gross margin and net earnings in 2007 though abnormal (see 2007 annual report's management discussion and analysis pages 8 to 11), puts us in an even better position for future growth. The focus on our vision - to be the global market share leader in advanced mobile tank level measurement, control and asset management while growing our market interests in burner management and level gauging - is sharper than ever."

Total expenses for fiscal 2007 rose to $2,914,283 from $2,412,789 a year ago. These increases were due to but not limited to the following:

- General and administrative expenses, increased staffing and management remuneration;

- Marketing and sales expense, higher promotional activities in targeted market areas;

- Product development expense, accelerated research and development costs some of which were offset by contributions from the Industrial Research Assistance Program;

- Other expenses of note were a drop in interest expenses in fiscal 2007 due to elimination of long term debt. The company's loss on foreign currency exchange due to income from United States operations and the rise of the Canadian dollar against the U.S. dollar grew from $22,389 in fiscal 2006 to $48,085.



Selected Annual Information:

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Years ended August 31
(audited) 2007 2006
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Canadian Dollars $ $
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Sales 8,922,386 7,071,349
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Gross profit 4,075,683 2,801,541
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Earnings before income taxes 1,260,946 440,882
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Net earnings after income taxes 2,930,088 440,882
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Basic earnings per share 0.13 0.03
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Diluted earnings per share 0.12 0.02
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Total assets 7,623,875 4,327,231
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Long-term liabilities nil 345,218
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Titan Logix Corp.'s 2007 annual report including its audited financial statements and management discussion and analysis are available on SEDAR at www.sedar.com and on www.titanlogix.com.

About Titan Logix Corp.:

Titan Logix Corp. is an advanced technology industrial instrumentation and controls company focused on the design, manufacturing, distribution and servicing of instrumentation and automation technologies, primarily for the oil and gas, chemical and transportation industries. For many years, these industries have operated with significant dependence on manual intervention. Today, however, the automation technology market has grown significantly creating a demand for the products in which we specialize. Detailed information on Titan Logix Corp. is available on the company's website www.titanlogix.com.

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 Titan Logix Corp. may differ materially from the results, performance or achievements of the Titan Logix Corp. expressed or implied by such forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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