Other OTC:TBTC
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.
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 |
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
Other OTC:TBTC
Saddle West selects CasinoTrac™ CMS
MINNETONKA, Minn., April 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 Saddle West Hotel Casino & RV Resort, in Pahrump, NV.
Executive management at Saddle West expressed excitement about working with CasinoTrac, selecting the CMS because it, “seems like a perfect fit their operations. The a la carte features, security offered through the lightweight server footprint, solid warranties, upgrades, and lifetime licensing set CasinoTrac head and shoulders above the competition.”
Chad Hoehne, President of Table Trac, Inc., stated, “Thank you Saddle West, we are grateful for being recognized by such a reputable operator.” Hoehne continued, “This is a significant step in our expansion plans, adding an additional operator in southern Nevada. We look forward to a long, beneficial relationship.”
Saddle West Casino will deploy PlayerLINQ™-CasinoTrac’s 6.2” touchscreen player tracking interface, CTLoyalty™ for all patron marketing, promotions administration & management, and slot accounting solutions.
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. designs, develops, and sells casino management systems and software. CasinoTrac is operational in more than 300 casinos, 40 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/.
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
Other OTC:TBTC
Table Trac, Inc. Reports Year End Results for 2023
MINNETONKA, Minn., March 29, 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 year ended December 31, 2023.
The 10-K can be found @ http://www.sec.gov
Year End Highlights
- Record $7 Million in Gross Profit
- Gross Margin percentage exceeds 74%
- Record reoccurring revenue of $4.9 Million a 42% increase over the prior year
- Table Trac declared and paid three quarterly dividends of $0.01/share.
- The CasinoTrac system was installed in thirteen locations during 2023. At the end of 2023, the Company had casino management systems, table games management systems and ancillary products installed with 110 casino operators in over 300 casinos worldwide.
- Table Trac established an office/showroom in Las Vegas
Year-to-Date Financial Results
Earnings per share remained strong at $0.35/share – diluted, which was consistent with 2022.
Recurring revenue accounted for 52.6% of total revenues.
Net Income for 2023 was $1,675,717 compared to $1,624,453 for 2022.
Management Commentary
Table Trac, Inc CFO Randy Gilbert commented: 2023 was another very strong year for Table Trac. We ended the year having installed thirteen new systems, expanding one of our current customers and we currently have four projects in our backlog. We expect most of the backlogged projects to be installed by the end of Q2 2024. Our reoccurring revenue continues to increase. Other sales, which included DataTrac and kiosk related products increased over 9% compared to 2022 and accounted for over 12% of our total revenue in 2023.
“Once again, Table Trac Inc. continues to add product offerings while expanding our customer base. The result is building more ways we can sustain and deliver shareholder value and per share earnings.”, said Chad Hoehne, President & CEO
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
Other OTC:TBTC
Table Trac Announces Quarterly Dividend
MINNETONKA, Minn., March 18, 2024 (GLOBE NEWSWIRE) — On March 14, 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 April 19, 2024 to shareholders of record at the close of business on April 5, 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
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