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Table Trac, Inc. Reports 2022 First Quarter Earnings

TBTC

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

Cision View original content:https://www.prnewswire.com/news-releases/table-trac-inc-reports-2022-first-quarter-earnings-301544029.html

SOURCE Table Trac, Inc.