Outstanding BuyWhat's there not to like.
$0.50 per share in cash and no debt .
Titan continues to maintain its market share for level measurement and control devices in a significantly smaller crude oil tanker construction market in the face of the dramatic downturn in the upstream crude oil market.
Oil prices show every indication that stabilization around $55 to $65 seems likely.
Natural gas prices are at a 3 year high
Titan's proprietary TD80/Finch II/RCM technologies continue to be widely accepted. Due to the large install base and market share of these products Titan is focused on new market opportunities including existing tanker retrofit sales, gauging sales in the upstream storage tank market, as well as gauging sales in mobile and storage tanks in downstream markets.
Titan has taken a number of steps to position itself in this new market reality:
- It has a priority in the short term to preserve its balance sheet and has undertaken cost-reduction measures which include a significant reduction in its work force over the course of the last two fiscal quarters.
- It is in the process of closing its Saskatchewan warehouse and service facility and transitioning to a new value-added reseller program in that market.
- It has performed an intensive review of its research-and-development program and has rationalized the program focusing only on high-potential strategic initiatives.
- It is continuing to develop its core technologies and new products and partnerships that will allow it to expand into new markets.
- It continues to pursue new business opportunities to leverage Titan's expertise and capital.
The last time oil was in $60 range, Titan traded in the $1.20 range.
Lean and mean with loads of cash, TLA is very undervalued and might be sold soon..