Table Trac, Inc. Reports 2024 First Quarter Earnings
Table Trac, Inc. reported its 2024 first quarter financial results, showing growth and expansion in customer contracts and revenue. The company installed new systems, expanded services, and saw an increase in maintenance and service revenue compared to the previous year. With new contracts signed and expansion plans in place, Table Trac, Inc. is positioned for further growth in the coming quarters.
The company installed two systems at new customer locations and expanded services at an existing customer, indicating growth and customer satisfaction.
Maintenance revenue for the quarter increased by approximately 6%, from $1.21M in 2023 to $1.28M in 2024, showing a positive revenue trend.
Service and other revenue for the quarter saw a significant increase of approximately 55%, from $280K in 2023 to $435K in 2024, reflecting strong revenue growth.
The company signed two new contracts and has expansion plans with an existing customer, demonstrating continued business development and growth opportunities.
- None.
MINNETONKA, Minn., May 10, 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 three months ending March 31, 2024.
The 10-Q can be found @ http://www.sec.gov
First Quarter 2024 Highlights
- The Company installed two systems at new customer locations, expanded the services at an existing customer and our distributors expanded our systems in new and current locations during the quarter.
- The Company had two customer contracts in backlog as of March 31, 2024. The company anticipates that these contracts will be installed during the second quarter of 2024. As of the filing date of this report, the Company signed two new contracts and has expansion plans with an existing customer.
First Quarter 2024 Financial Results
Maintenance revenue for the quarter was
Service and other revenue for the quarter was
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, 2024 and 2023:
| For the Three Months Ended | ||||||
| March 31, | ||||||
| 2024 | 2023 | |||||
| Basic and diluted earnings per share calculation: | ||||||
| Net income | $ | 11,661 | $ | 335,861 | ||
| Weighted average number of common shares outstanding - basic | 4,574,365 | 4,551,988 | ||||
| Basic net income per share | $ | 0.00 | $ | 0.07 | ||
| Weighted average number of common shares outstanding - diluted | 4,601,471 | 4,626,930 | ||||
| Diluted net income per share | $ | 0.00 | $ | 0.07 | ||
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
FAQ
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