Table Trac, Inc. Reports 2024 Third Quarter Earnings

(MENAFN- GlobeNewsWire - Nasdaq) MINNETONKA, Minn., Nov. 14, 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 and nine months ending September 30, 2024.

The 10-Q can be found @

Third Quarter 2024 Highlights

The Company installed two systems.
The Company had five installations in backlog as of September 30, 2024. The company anticipates that the majority of these contracts will be installed in the fourth quarter. As of the filing date of this report, the Company has signed one new contract.

Financial Results

Total revenue for the nine months ending September 30, 2024, was $8M compared to $6.6M in 2023, an increase of approximately 22%.

Gross profit for the three months ending was $1.8M as compared to $1.4M in 2023.

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, 2024 and 2023:

	For the Three Months Ended
	September 30,
	2024		2023
Basic and diluted earnings per share calculation:
Net income	$	292,379		$	171,988
Weighted average number of common shares outstanding - basic		4,575,068			4,552,988
Basic net income per share	$	0.06		$	0.04
Weighted average number of common shares outstanding - diluted		4,622,938			4,606,488
Diluted net income per share	$	0.06		$	0.04

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, 2024 and 2023:

	For the nine Months Ended
	September 30,
	2024		2023
Basic and diluted earnings per share calculation:
Net income to common stockholders	$	1,110,610		$	1,079,239
Weighted average number of common shares outstanding - basic		4,575,068			4,552,481
Basic net income per share	$	0.24		$	0.24
Weighted average number of common shares outstanding - diluted		4,621,840			4,610,786
Diluted net income per share	$	0.24		$	0.23

About Table Trac, Inc.

Founded in 1995, Table Trac, Inc. develops, sells and leases information and management systems and provides technical support to casinos. The open architecture of CasinoTrac is designed to provide operators with a secure, scalable, and flexible system that interconnects and operates with most third-party software and hardware. Key products and services include modules that drive player tracking programs, kiosk promotions, and provide vault and cage controls. The Company's systems are designed to meet strict auditing, accounting and regulatory requirements applicable to the gaming industry.

Additionally, the Company has developed a patented, real-time system that automates and monitors the operations of casino gaming tables.

The Company's suite of management systems and kiosks are installed with on-going support and maintenance contracts in over 115 casino operators in over 300 casinos worldwide. The Company continues to increase its market share by expanding its product offerings to include new system features, and ancillary products. More information is available at .

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

MENAFN14112024004107003653ID1108887276

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.