Skip to main content

Table Trac, Inc. Reports 2023 Second Quarter Earnings

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

MINNETONKA, Minn., Aug. 10, 2023 (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 six months ending June 30, 2023.

The 10-Q can be found @ http://www.sec.gov

Second Quarter 2023 Highlights

  • The Company installed four systems, expanded the services at two existing customer and our distributors expanded our system in new and current locations during the quarter.
     
  • The Company had eight customer contracts in backlog as of June 30, 2023. The company anticipates that the majority of these contracts will be installed in the next two quarters. As of the filing date of this report, the Company has not signed any new contracts.

Financial Results

Maintenance revenue for the quarter was $1.2M compared to $837K in 2022, an increase of approximately 48%.

Net income for the quarter was $571,380 verse a loss of $242,324 in 2022.

The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the three months ended June 30, 2023 and 2022:

 For the Three Months Ended
 June 30,
  2023   2022 
Basic and diluted earnings per share calculation:   
Net income$571,380  $(242,324)
Weighted average number of common shares outstanding – basic 4,569,450   4,521,988 
Basic net income per share$0.13  $(0.05)
Weighted average number of common shares outstanding – diluted 4,634,648   4,521,988 
Diluted net income per share$0.12  $(0.05)

The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the six months ended June 30, 2023 and 2022:

 For the Six Months Ended
 June 30,
  2023   2022 
Basic and diluted earnings per share calculation:   
Net income to common stockholders$907,241  $1,019,516 
Weighted average number of common shares outstanding – basic 4,551,720   4,521,988 
Basic net income per share$0.20  $0.23 
Weighted average number of common shares outstanding – diluted 4,624,436   4,548,449 
Diluted net income per share$0.20  $0.22 


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, CFO
Table Trac, Inc.
952-548-8877

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.