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Table Trac, Inc. Reports 2023 Third Quarter Earnings

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table-trac,-inc.-reports-2023-third-quarter-earnings

MINNETONKA, Minn., Nov. 13, 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 nine months ending September 30, 2023.

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

Third Quarter 2023 Highlights

  • The Company installed four systems and our distributors expanded our system in new and current locations during the quarter.
     
  • The Company had six customer contracts in backlog as of September 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 signed two new contracts.

Financial Results

Maintenance revenue for the quarter was $1.3M compared to $883K in 2022, an increase of approximately 48%.

Gross profit for the nine months ending was $5.16M as compared to $4.98M in 2022.

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Net income for the nine months ending was $1,079,239 as compared to $1,309,642 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 September 30, 2023 and 2022:

  For the Three Months Ended
  September 30,
    2023       2022  
Basic and diluted earnings per share calculation:      
Net income $ 171,998     $ 290,126  
Weighted average number of common shares outstanding – basic   4,552,988       4,521,988  
Basic net income per share $ 0.04     $ 0.06  
Weighted average number of common shares outstanding – diluted   4,606,488       4,566,679  
Diluted net income per share $ 0.04     $ 0.06  

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

  For the nine Months Ended
  September 30,
    2023       2022  
Basic and diluted earnings per share calculation:      
Net income to common stockholders $ 1,079,239     $ 1,309,642  
Weighted average number of common shares outstanding – basic   4,552,481       4,521,988  
Basic net income per share $ 0.24     $ 0.29  
Weighted average number of common shares outstanding – diluted   4,610,786       4,560,604  
Diluted net income per share $ 0.23     $ 0.29  


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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

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Other OTC:TBTC

Sac & Fox Casino and CasinoTrac™ Partner for CMS Upgrade

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MINNETONKA, Minn., July 16, 2024 (GLOBE NEWSWIRE) — Table Trac, Inc. (OTCQX: TBTC) announced a new agreement to replace a competitor’s system with the CasinoTrac™ casino management system at Sac & Fox Casino in Powhattan, KS.

Eric Wright, General Manager of Sac & Fox Casino, stated, “CasinoTrac has come a long way since I first worked with the system. It should easily accomplish what we need at our property. “

Chad Hoehne, President of Table Trac, Inc., stated, “Eric and his team really put us to the test, drilling deep into the CasinoTrac revenue audit and accounting functions for compliance with their audit standards.” Hoehne also mentioned, “These exercises were diligent and necessary in earning the trust, business, and our 41st Native American tribal partnership.”

Sac & Fox Casino will deploy PlayerLINQ™- CasinoTrac’s 6.2” touchscreen player tracking interface, CTLoyalty™ for all patron marketing, promotions, and bonusing administration and management, KioskTrac™ promotional games with account management, and slot accounting solutions.

About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. designs, develops, and sells software and casino management systems for casino gaming operators. CasinoTrac is operational in more than 300 casinos and 41 Native American tribes across 13 countries, including the United States, Central and South America, the Caribbean and Australia. More information is available at https://www.CasinoTrac.com/.

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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.

CONTACT: Investor Relations contact:
Randy Gilbert
[email protected]
952-548-8877

Media/Sales contact:
Jeff Baldi
[email protected]
702-521-0317

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Other OTC:TBTC

Stillwater Gaming & CasinoTrac Expand Again at Tahoe Nugget Casino

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MINNETONKA, Minn., June 12, 2024 (GLOBE NEWSWIRE) — Table Trac, Inc. (OTCQX: TBTC) announced today that the Tahoe Nugget Casino, located in South Lake Tahoe, Nevada, will soon have its CasinoTrac casino management system installed.

Stillwater Gaming owns and operates multiple casino properties throughout Nevada, in Churchill and Lyon counties and the Carson Valley. These locations feature slot machines, entertainment, hotels, bars, and restaurants.

“We are excited again to be the system of choice for Stillwater Gaming as they continue their expansion into the Lake Tahoe area,” said Chad Hoehne, President of Table Trac, Inc.

“When I think about CasinoTrac, I see great value.   The system is developed and supported by professionals who are truly focused on the end user – casino guests.” Said Scott Tate, Stillwater Gaming, LLC. “I am impressed with the stability of the CasinoTrac system as we have utilized in many of our casinos.   Additionally, I particularly like the fact that Table Trac is a company dedicated completely to gaming systems.   That focus appears to be what drives the quality of the system and the culture of the Table Trac Team.”

About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. designs, develops and sells casino management systems and software. CasinoTrac CMS is operational in more than 300 casinos and 41 Native American tribes across 13 countries, including the United States, Central and South America, the Caribbean, and Australia. More information is available at https://www.CasinoTrac.com/.

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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.

CONTACT: For more information:
Investor Relations contact:
Randy Gilbert
[email protected]
952-548-8877

Media/Sales contact:
Jeff Baldi
[email protected]
702-521-0317

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Other OTC:TBTC

Table Trac, Inc. Reports 2024 First Quarter Earnings

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MINNETONKA, Minn., May 10, 2024 (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 months ending March 31, 2024.

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

First Quarter 2024 Highlights

  • The Company installed two systems at new customer locations, expanded the services at an existing customer and our distributors expanded our systems in new and current locations during the quarter.
     
  • The Company had two customer contracts in backlog as of March 31, 2024. The company anticipates that these contracts will be installed during the second quarter of 2024. As of the filing date of this report, the Company signed two new contracts and has expansion plans with an existing customer.

First Quarter 2024 Financial Results

Maintenance revenue for the quarter was $1.28M compared to $1.21M in 2023, an increase of approximately 6%.

Service and other revenue for the quarter was $435K compared to $280K in 2023, an increase of approximately 55%.

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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 March 31, 2024 and 2023:

    For the Three Months Ended
    March 31,
      2024     2023
Basic and diluted earnings per share calculation:        
Net income   $ 11,661   $ 335,861
Weighted average number of common shares outstanding – basic     4,574,365     4,551,988
Basic net income per share   $ 0.00   $ 0.07
Weighted average number of common shares outstanding – diluted     4,601,471     4,626,930
Diluted net income per share   $ 0.00   $ 0.07
             

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.

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For more information:
Randy Gilbert, CFO
Table Trac, Inc.
952-548-8877

 

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