Table Trac Announces First Quarter 2021 Results

Rhea-AI Summary

Table Trac, Inc. (OTCQX: TBTC) reported significant growth in its first-quarter financial results for 2021, with income before taxes increasing to $828,507, compared to $18,806 in 2020. Ongoing maintenance revenue rose by 10%, reaching $783,920. EBITDA surged to approximately $836,000 from $32,700 in the previous year. The company also installed three new CasinoTrac systems, while its Australian reseller expanded installations across 57 locations, revealing strong demand and a backlog of nine system installations.

Positive

• Income before taxes increased to $828,507 from $18,806, a rise of approximately $810,000.
• Ongoing maintenance revenue increased to $783,920, up 10% year-over-year.
• EBITDA improved to $836,000, up from approximately $32,700 in 2020.
• Installed three new CasinoTrac systems with three new customers.
• Australian reseller installed the system in 57 new customer locations.

Negative

• None.

MINNETONKA, Minn., May 17, 2021 /PRNewswire/ -- 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 quarter ending March 31, 2021.

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

First Quarter Financial Results

Income before taxes for the first quarter of 2021 was $828,507 compared to $18,806 in 2020, an increase of approximately $810,000.

Ongoing maintenance revenue increased from $710,827 in 2020 to $783,920 in 2021, an increase of approximately 10% due to an increasing number of maintenance customers.

EBITDA for the first quarter of 2021 was approximately $836,000 compared to approximately $32,700 in 2020.

The Company installed three new CasinoTrac systems for three new customers.  Our Australian reseller installed our system into 57 new customer locations.  The company currently has nine system installations in backlog.

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, 2021 and 2020:

		For the Three Months Ended
		March 31,
		2021		2020
Basic and diluted earnings per share calculation:
Net income (loss) to common stockholders		$     616,007		$     (10,194)
Weighted average number of common shares outstanding - basic		4,500,672		4,486,788
Basic net income (loss) per share		$           0.14		$         (0.00)
Weighted average number of common shares outstanding - diluted		4,505,132		4,486,788
Diluted net income (loss) per share		$           0.14		$         (0.00)

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 in 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:
Robert Siqveland
Table Trac, Inc.
952-548-8877

View original content:http://www.prnewswire.com/news-releases/table-trac-announces-first-quarter-2021-results-301292680.html

SOURCE Table Trac, Inc.

FAQ

What are the financial results of Table Trac for Q1 2021?

Table Trac reported an income before taxes of $828,507 and EBITDA of approximately $836,000 for Q1 2021.

How much did Table Trac's ongoing maintenance revenue increase in Q1 2021?

Ongoing maintenance revenue increased by 10%, reaching $783,920 in Q1 2021.

How many new CasinoTrac systems did Table Trac install in Q1 2021?

Table Trac installed three new CasinoTrac systems for new customers in Q1 2021.

What is Table Trac's stock symbol?

Table Trac's stock symbol is TBTC.

What was the net income for Table Trac in Q1 2021?

The net income for Table Trac in Q1 2021 was $616,007.