Table Trac, Inc. Reports 2022 First Quarter Earnings

Rhea-AI Summary

Table Trac, Inc. (OTCQX: TBTC) reported significant growth for Q1 2022, with net income of $1,261,840, up from $616,007 in Q1 2021, marking a 104% increase. The company installed three new systems and expanded its presence in existing locations, leading to nine customer contracts in backlog, expected to install within two quarters. Basic net income per share rose to $0.28 from $0.14, while diluted EPS increased to $0.27 from $0.14.

Positive

• Net income increased by $645,800, representing a growth of 104% year-over-year.
• Basic net income per share rose to $0.28 compared to $0.14 in Q1 2021.
• Diluted net income per share increased from $0.14 to $0.27.

Negative

• None.

MINNETONKA, Minn., May 10, 2022 /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, 2022.

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

First Quarter 2022 Highlights

• The Company installed three systems at new locations, increased the number of games at a current customer and our distributors expanded current locations and installed our system in new locations during the quarter.
• The Company had nine customer contracts in backlog as of March 31, 2022. The company anticipates that the majority of these contracts will be installed in the next two quarters.

First Quarter 2022 Financial Results

Net Income for the quarter was $1,261,840 compared to income of $616,007 in 2021, an increase of approximately $645,800. 

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, 2022 and 2021: 

		For the Three Months Ended
		March 31,
		2022		2021
Basic and diluted earnings per share calculation:
Net income to common stockholders		$ 1,261,840		$     616,007
Weighted average number of common shares outstanding - basic		4,521,988		4,500,672
Basic net income per share		$           0.28		$           0.14
Weighted average number of common shares outstanding - diluted		4,596,037		4,505,132
Diluted net income per share		$           0.27		$           0.14

 

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-inc-reports-2022-first-quarter-earnings-301544029.html

SOURCE Table Trac, Inc.

FAQ

What are Table Trac's Q1 2022 financial results?

Table Trac reported a net income of $1,261,840 for Q1 2022, up from $616,007 in the prior year.

What is the EPS for Table Trac in Q1 2022?

The basic earnings per share (EPS) for Table Trac in Q1 2022 was $0.28, and diluted EPS was $0.27.

How many customer contracts does Table Trac have as of March 31, 2022?

Table Trac has nine customer contracts in backlog as of March 31, 2022.

What new installations did Table Trac complete in Q1 2022?

In Q1 2022, Table Trac installed three new systems at various locations and expanded existing customer locations.