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Table Trac Announces Second Quarter 2018 Results

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Table Trac Announces Second Quarter 2018 Results

Income from operations tops $577,000

PR Newswire

MINNETONKA, Minn., Aug. 14, 2018 /PRNewswire/ -- Table Trac, Inc. (OTCQB:TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos, announced financial results for the quarter ending June 30, 2018.

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

Second Quarter Highlights

  • The Company delivered five systems during the quarter.
  • The Company had three new customer contracts in backlog as of June 30, 2018 that are scheduled for delivery in the third quarter of 2018. Most of the revenues from these new contracts will be recognized after installation has been completed.

Second Quarter Financial Results

Revenues increased from $2,183,787 in 2017 to $3,003,135 in 2018.

Ongoing maintenance revenue increased from $550,363 in 2017 to $626,690 in 2018, a 13.9% increase of $76,327 due to high customer retention rate.

The gross margin for the second quarter of 2018 was $1,196,531 compared with $753,931 in 2017. 

The net income for 2018 was $410,538 compared to net income of $164,988 for 2017.

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 31, 2018 and 2017:  The decrease of the weighted shares outstanding is due primarily to the company actively repurchasing its stock.



For the Three Months Ended
June30,



2018


2017

Basic and diluted earnings per share calculation:





Net income (loss) to common stockholders

$

410,538

$

164,988

Weighted average number of common shares outstanding - basic


4,468,630


4,511,965

Basic net income (loss) per share

$

0.09

$

0.04

Weighted average number of common shares outstanding - diluted


4,529,828


4,511,965

Diluted net income (loss) per share

$

0.09

$

0.04

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 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

 

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SOURCE Table Trac, Inc.

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