Mining & Metals
Titan Logix Q2 Loss Widens Despite Revenue Growth
Titan Logix (TLA.V) reported a widened loss in its fiscal second quarter despite a surge in revenues.The company's loss in three months ended on Feb. 28 rose by $162,000 to $213,000, or $0.01 per share, compared to a loss of $51,000, or nil, in the same period last year.Revenue rose by $158,000, or 11%, to $1.65 million from $1.50 million in the year-prior quarter."We are seeing traction for our new product line for the refined petroleum market at the OEM level," said chief executive Nick Forbes. "Our focus for the second half of the fiscal year will be to expand our sales and marketing to a broader base of channel partners in these new markets."The company's shares last closed unchanged at $0.51 on RSX Venture Exchange on Monday.
$TLA.V
