Source: Titan Logix Corp.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Titan Logix Corp. (TLA) released its results for its fiscal Q3 ending May 31st, 2022
  • Revenues increased by $227,904 or 21 per cent, to $1,292,204, from the $1,064,300 in Q2
  • Gross profit for the third quarter of fiscal 2022 increased by $155,333 to $713,497 or 55 per cent of revenue compared to $558,164 or 52 per cent of revenue in Q2
  • Total expenses in the third quarter of fiscal 2022 decreased by $132,160 to $566,073 as compared with $698,233 in Q2
  • Titan was trading 10.59 per cent higher at $0.47 a share as of 2:15 pm ET

Titan Logix Corp. (TLA) released its results for its fiscal Q3 ending May 31st, 2022.

Revenues increased by $227,904 or 21 per cent, to $1,292,204, from the $1,064,300 in the comparative prior period.

The company pointed to increased demand and volume for the GWR product line from the crude oil sector as the primary contributor to this growth. This was due to increased confidence in the global supply chain for tanker original equipment manufacturers.

Gross profit for the third quarter of fiscal 2022 increased by $155,333 to $713,497 or 55 per cent of revenue compared to $558,164 or 52 per cent of revenue in the comparative period. 

Total expenses in the third quarter of fiscal 2022 decreased by $132,160 to $566,073 compared with $698,233 in the prior period.

Titan’s CEO, Nick Forbes called Q3 a strong quarter for the company, and a move in the right direction.

“Our OEM partners are reporting an increase in demand for new tanker builds, while industry-wide supply chain issues continue to stifle sales velocities. We will continue to support our market partners through these sporadic conditions by ensuring our gauging products are on-hand and ready to ship.”

Titan Logix Corp. (TLA) is a technology company specializing in advanced measurement solutions.

Titan (TLA) was trading 10.59 per cent higher at $0.47 a share as of 2:15 pm ET.

More From The Market Herald
Datable - CEO, Robert Craig.

" Datable (TSXV:DAC) signs agreement with leading ad agency

Datable (DAC) will join a leading advertising agency to enable a high-profile marketing program.

" Mobi724 Global Solutions (TSXV:MOS) closes private placement

Mobi724 Global Solutions (MOS) has closed its previously announced non-brokered private placement financing for gross proceeds of $500,000.

" Plurilock’s (TSXV:PLUR) Aurora System receives US$3 million in purchase orders

Plurilock’s (PLUR) subsidiary, Aurora Systems Consulting, received purchase orders from several organizations in July 2022, totalling US$2,984,599.