Table Trac, Inc. Reports Record Year End Results for 2022
Table Trac, Inc. (OTCQX: TBTC) reported strong financial results for the year ended December 31, 2022, marking a record total revenue of $11 million, a 58% increase from the previous year. Income before taxes reached $2.18 million. The company received a 2023 OTCQX Best 50 award for ranking 25th among over 500 listed companies. Key achievements include the installation of 16 casino management systems and a 103% increase in system sales. Recurring revenue rose 12%, making up 31.7% of total revenue. Management expresses optimism for continued growth as backlogged projects are expected to be completed by Q2 2023.
- Record total revenue of $11 million, a 58% increase.
- Income before taxes of $2.18 million.
- Ranked 25th in the 2023 OTCQX Best 50 award.
- Installed 16 new casino management systems.
- 103% increase in system sales.
- None.
MINNETONKA, Minn., March 27, 2023 (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 year ended December 31, 2022.
The 10-K can be found @ http://www.sec.gov
Year End Highlights
- Record
$11 Million of Total Revenue, an increase of58% . - Record
$2.18 Million of Income Before Taxes. - Table Trac was recognized with a 2023 OTCQX Best 50 award which is given to the top 50 companies from the over 500 OTCQX listed companies for their performance during the 2022 calendar year. The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX Best Market. Table Trac ranked number 25.
- The CasinoTrac system was installed in sixteen locations during 2022. At the end of 2022, the Company had casino management systems, table games management systems and ancillary products installed with on-going support and maintenance contracts with 100 casino operators in over 280 casinos worldwide.
Year-to-Date Financial Results
Overall revenues increased to
Income from operations for 2022 was
Management Commentary
Table Trac, Inc CFO Randy Gilbert commented: 2022 was a very strong year for Table Trac. We ended the year having installed sixteen new systems, expanding one of our current customers and we currently have eight projects in our backlog. We expect most of the backlogged projects to be installed by the end of Q2 2023. System sales increased over
“I wish to express my gratitude to the great group of Table Trac Inc employees, who’s focus and dedication made this a record year for Table Trac Inc.” said Chad Hoehne, President & CEO. “It is your attention to customer service, quality product design and responsiveness to customer needs that makes me optimistic about Table Trac Inc’s continued success into the future.”
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, Australia 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.
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