Other OTC:TBTC
Table Trac, Inc. Reports Record Year End Results for 2022
MINNETONKA, Minn., March 27, 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 year ended December 31, 2022.
The 10-K can be found @ http://www.sec.gov
Year End Highlights
- Record $11 Million of Total Revenue, an increase of 58%.
- Record $2.18 Million of Income Before Taxes.
- Table Trac was recognized with a 2023 OTCQX Best 50 award which is given to the top 50 companies from the over 500 OTCQX listed companies for their performance during the 2022 calendar year. The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX Best Market. Table Trac ranked number 25.
- The CasinoTrac system was installed in sixteen locations during 2022. At the end of 2022, the Company had casino management systems, table games management systems and ancillary products installed with on-going support and maintenance contracts with 100 casino operators in over 280 casinos worldwide.
Year-to-Date Financial Results
Overall revenues increased to $11,056,587 in 2022 from $6,966,683, reflecting a 103% increase in system sales and a 10% increase in other sales. Recurring revenue rose 12% and represented 31.7% of total revenues.
Income from operations for 2022 was $2,019,951 compared to $1,508,947 for 2021, a 34% increase.
Management Commentary
Table Trac, Inc CFO Randy Gilbert commented: 2022 was a very strong year for Table Trac. We ended the year having installed sixteen new systems, expanding one of our current customers and we currently have eight projects in our backlog. We expect most of the backlogged projects to be installed by the end of Q2 2023. System sales increased over 103% compared to 2022. Other sales, which included DataTrac and kiosk related products grew 92% compared to 2021 and accounted for almost 10% of our total revenue in 2022.
“I wish to express my gratitude to the great group of Table Trac Inc employees, who’s focus and dedication made this a record year for Table Trac Inc.” said Chad Hoehne, President & CEO. “It is your attention to customer service, quality product design and responsiveness to customer needs that makes me optimistic about Table Trac Inc’s continued success into the future.”
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, Australia as well as 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.
CONTACT: Randy Gilbert Table Trac, Inc. 952-548-8877
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MINNETONKA, Minn., Nov. 14, 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 and nine months ending September 30, 2024.
The 10-Q can be found @ http://www.sec.gov
Third Quarter 2024 Highlights
- The Company installed two systems.
- The Company had five installations in backlog as of September 30, 2024. The company anticipates that the majority of these contracts will be installed in the fourth quarter. As of the filing date of this report, the Company has signed one new contract.
Financial Results
Total revenue for the nine months ending September 30, 2024, was $8M compared to $6.6M in 2023, an increase of approximately 22%.
Gross profit for the three months ending was $1.8M as compared to $1.4M in 2023.
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, 2024 and 2023:
| For the Three Months Ended | ||||||||
| September 30, | ||||||||
| 2024 |
2023 |
|||||||
| Basic and diluted earnings per share calculation: | ||||||||
| Net income | $ | 292,379 | $ | 171,988 | ||||
| Weighted average number of common shares outstanding – basic | 4,575,068 | 4,552,988 | ||||||
| Basic net income per share | $ | 0.06 | $ | 0.04 | ||||
| Weighted average number of common shares outstanding – diluted | 4,622,938 | 4,606,488 | ||||||
| Diluted net income per share | $ | 0.06 | $ | 0.04 | ||||
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, 2024 and 2023:
| For the nine Months Ended | ||||||||
| September 30, | ||||||||
| 2024 |
2023 |
|||||||
| Basic and diluted earnings per share calculation: | ||||||||
| Net income to common stockholders | $ | 1,110,610 | $ | 1,079,239 | ||||
| Weighted average number of common shares outstanding – basic | 4,575,068 | 4,552,481 | ||||||
| Basic net income per share | $ | 0.24 | $ | 0.24 | ||||
| Weighted average number of common shares outstanding – diluted | 4,621,840 | 4,610,786 | ||||||
| Diluted net income per share | $ | 0.24 | $ | 0.23 | ||||
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. develops, sells and leases information and management systems and provides technical support to casinos. The open architecture of CasinoTrac is designed to provide operators with a secure, scalable, and flexible system that interconnects and operates with most third-party software and hardware. Key products and services include modules that drive player tracking programs, kiosk promotions, and provide vault and cage controls. The Company’s systems are designed to meet strict auditing, accounting and regulatory requirements applicable to the gaming industry.
Additionally, the Company has developed a patented, real-time system that automates and monitors the operations of casino gaming tables.
The Company’s suite of management systems and kiosks are installed with on-going support and maintenance contracts in over 115 casino operators in over 300 casinos worldwide. The Company continues to increase its market share by expanding its product offerings to include new system features, and ancillary products. 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
MINNETONKA, Minn., Nov. 08, 2024 (GLOBE NEWSWIRE) — On November 8, 2024, The Board of Directors of Table Trac Inc. (the “Company”) (OTCQX: TBTC) approved a cash dividend on the Company’s common stock of $0.01 per share. The dividend is payable on December 13, 2024 to shareholders of record at the close of business on November 29, 2024.
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.
CONTACT: For more information: Randy Gilbert Table Trac, Inc. 952-548-8877
MINNETONKA, Minn., Oct. 03, 2024 (GLOBE NEWSWIRE) — On October 3, 2024, The Board of Directors of Table Trac Inc. (the “Company”) (OTCQX: TBTC) the producer of CasinoTrac, a Secure, Unified and Stable Casino Management system, approved the addition of Andrew T. Berger to its Board of Directors.
“We are very pleased and excited to have Andrew join our Board of Directors” commented Chad Hoehne, President and CEO of Table Trac, Inc.
Mr. Berger has served as a director of Autoscope Technologies Corporation (and/or its predecessor subsidiary Image Sensing Systems Inc.) since October 2015 and as its Executive Chair since June 2016. He was also its CEO from April 2021 to November 2022. Mr. Berger was appointed Chief Executive Officer of Tuesday Morning Corporation, an off-price retailer of home goods and décor from November 2022 through May 2023, where he assisted in the sale of its assets to Hilco. In 2024, Mr. Berger acquired the IP of Tuesday Morning and relaunched its digital operations. Mr. Berger is currently the Managing Member of AB Value Management LLC, which serves as the General Partner of AB Value Partners, LP., an investment partnership. In addition, Mr. Berger provides business consultancy services through Walker’s Manual, Inc., served as an equity analyst for Value Line, Inc., was the Chief Executive Officer of Cosi, a fast-causal restaurant chain, and served on the board of directors of Rocky Mountain Chocolate Factory, Inc., an international franchisor and confectionery manufacturer.
“I look forward to the opportunity to be a member of the Table Trac Board. I believe it is a great time to join the Table Trac team, and I am excited to contribute to the expansion and growth of their business,” commented Mr. Berger.
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/.
CONTACT: For more information: Randy Gilbert Table Trac, Inc. 952-548-8877
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