Table Trac Announces Third Quarter 2022 Results
MINNETONKA, Minn., Nov. 10, 2022 (GLOBE NEWSWIRE) — Table Trac, Inc. (OTCQX: TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos, announced financial results for the three and nine months ending September 30, 2022.
The 10-Q can be found @ http://www.sec.gov
Third Quarter Highlights
- The Company installed three systems at new locations, increased the number games at a current customer and our distributors expanded current locations and installed our system in over 30 new locations during the quarter.
- The Company had ten system contracts and one current system expansion in backlog as of September 30, 2022 which are scheduled for installation over the next six months.
Financial Results
Revenue for the third quarter of 2022 was $2,301,328 compared to revenue of $1,449,881 in 2021, an increase of approximately $850,000, or 59%.
Revenue for the nine months ending September 30, 2022 was $8,112,167 compared to revenue of $2,301,329 for the same period in 2021, an increase of approximately $3,000,000 or 60%.
The following table provides the numerators and denominators used in calculating basic and diluted earnings per share for the three months ended September 30, 2022 and 2021:
| For the Three Months Ended | ||||||
| September 30, | ||||||
| 2022 | 2021 | |||||
| Basic and diluted earnings per share calculation: | ||||||
| Net income | $ | 290,126 | $ | 186,811 | ||
| Weighted average number of common shares outstanding – basic | 4,521,988 | 4,511,988 | ||||
| Basic net income per share | $ | 0.06 | $ | 0.04 | ||
| Weighted average number of common shares outstanding – diluted | 4,566,679 | 4,526,115 | ||||
| Diluted net income per share | $ | 0.06 | $ | 0.04 | ||
The following table provides the numerators and denominators used in calculating basic and diluted earnings per share for the nine months ended September 30, 2022 and 2021:
| For the Nine Months Ended | ||||||
| September 30, | ||||||
| 2022 | 2021 | |||||
| Basic and diluted earnings per share calculation: | ||||||
| Net income | $ | 1,309,648 | $ | 956,453 | ||
| Weighted average number of common shares outstanding – basic | 4,521,988 | 4,508,258 | ||||
| Basic net income per share | $ | 0.29 | $ | 0.21 | ||
| Weighted average number of common shares outstanding – diluted | 4,560,604 | 4,522,694 | ||||
| Diluted net income per share | $ | 0.29 | $ | 0.21 | ||
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. designs, develops and sells casino information and management systems. The company has systems installed in North, South, and Central America, as well as Australia and the Caribbean. More information is available at http://www.tabletrac.com/.
Forward Looking Statements
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company’s filings with the Securities and Exchange Commission.
For more information:
Randy Gilbert
Table Trac, Inc.
952-548-8877
