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13.08.2019 23:01:00
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Table Trac Announces Second Quarter 2019 Results
MINNETONKA, Minn., Aug. 13, 2019 /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 June 30, 2019.
The 10-Q can be found @ http://www.sec.gov
Second Quarter Highlights
- The Company's reseller in Australia continued installing systems
- The Company delivered three systems during the quarter.
- The Company had four new customer contracts in backlog as of June 30, 2019 that are scheduled for delivery in the third quarter of 2019.
Second Quarter Financial Results
Revenues were $2,254,339 in 2019 compared to $3,003,135 in 2018.
Ongoing maintenance revenue increased from $626,690 in 2018 to $691,703 in 2019, a 10.4% increase of approximately $65,000 due to an increasing number of maintenance customers.
The gross margin for the second quarter of 2019 was $1,533,361 compared with $1,806,604 in 2018.
The net income for 2019 was $266,763 compared to net income of $410,538 for 2018.
The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the three and six months ended June 30, 2019 and 2018, respectively:
For the Three Months Ended | For the Six Months Ended | ||||||||
2019 | 2018 | 2019 | 2018 | ||||||
Basic and diluted earnings per share calculation: | |||||||||
Net income to common stockholders | $ | 266,763 | $ | 410,538 | $ | 274,718 | $ | 230,701 | |
Weighted average number of common shares outstanding - basic | 4,498,668 | 4,477,545 | 4,498,668 | 4,468,630 | |||||
Basic net income per share | $ | 0.06 | $ | 0.09 | $ | 0.06 | $ | 0.05 | |
Weighted average number of common shares outstanding - diluted | 4,507,736 | 4,477,545 | 4,505,354 | 4,468,630 | |||||
Diluted net income per share | $ | 0.06 | $ | 0.09 | $ | 0.06 | $ | 0.05 | |
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 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
Table Trac, Inc.
952-548-8877
View original content:http://www.prnewswire.com/news-releases/table-trac-announces-second-quarter-2019-results-300901124.html
SOURCE Table Trac, Inc.
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