Table Trac Announces Third Quarter 2021 Results

Rhea-AI Summary

Table Trac, Inc. (OTCQX: TBTC) reported strong financial results for the quarter ending September 30, 2021, with net income of $186,811, up from $29,513 in 2020. The company installed four new systems and expanded existing customers' games. As of September 30, 2021, there were 11 customer contracts in backlog, expected to be installed by December 31, 2021. For the nine months ended September 30, 2021, net income was $956,453, an increase from $118,913 in the prior year, and diluted earnings per share reached $0.21.

Positive

• Net income increased to $186,811 from $29,513 YoY.
• 11 customer contracts in backlog expected to be installed by December 31, 2021.
• Installed four systems at new locations during the quarter.
• Diluted earnings per share rose to $0.21 for the nine months ending September 30, 2021.

Negative

• None.

MINNETONKA, Minn., Nov. 12, 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 September 30, 2021.

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

Second Quarter Highlights

• The Company installed four systems at new locations, increased the number games at a current customer and our distributors expanded current locations and installed our system in new locations during the quarter.
• The Company had eleven customer contracts in backlog as of September 30, 2021. The company anticipates that the majority of these contracts will be installed by December 31, 2021.

Second Quarter Financial Results

Net Income for the second quarter of 2021 was $186,811 compared to income of $29,513 in 2020, an increase of approximately $157,000. 

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, 2021 and 2020: 

		For the Three Months Ended
		September 30,
		2021		2020
Basic and diluted earnings per share calculation:
Net income to common stockholders		$             186,811		$              29,513
Weighted average number of common shares outstanding - basic		4,511,988		4,486,788
Basic net income per share		$                   0.04		$                  0.01
Weighted average number of common shares outstanding - diluted		4,526,115		4,494,758
Diluted net income per share		$                   0.04		$                  0.01

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, 2021 and 2020: 

		For the Nine Months Ended
		September 30,
		2021		2020
Basic and diluted earnings per share calculation:
Net income to common stockholders		$         956,453		$         118,913
Weighted average number of common shares outstanding - basic		4,508,258		4,486,788
Basic net income per share		$               0.21		$               0.03
Weighted average number of common shares outstanding - diluted		4,522,694		4,495,569
Diluted net income per share		$               0.21		$               0.03

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

View original content:https://www.prnewswire.com/news-releases/table-trac-announces-third-quarter-2021-results-301423206.html

SOURCE Table Trac, Inc.

FAQ

What were Table Trac's financial results for Q3 2021?

Table Trac reported a net income of $186,811 for Q3 2021, up from $29,513 in Q3 2020.

How many customer contracts does Table Trac have in backlog?

As of September 30, 2021, Table Trac had 11 customer contracts in backlog.

What is Table Trac's diluted earnings per share for 2021?

Table Trac's diluted earnings per share for the nine months ending September 30, 2021, was $0.21.

How many new systems did Table Trac install in Q3 2021?

Table Trac installed four new systems during the quarter ending September 30, 2021.