Table Trac Announces First Quarter 2020 Results

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MINNETONKA, Minn., May 12, 2020 /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, 2020.

The 10-Q can be found @ http://www.sec.gov

First Quarter Financial Results

Income before taxes for the first quarter of 2020 was $30,812 compared with a loss of $8,045 in 2019, an increase of approximately $39,000.

Ongoing maintenance revenue increased from $672,569 in 2019 to $710,827 in 2020, an increase of approximately $38,000 due to an increasing number of maintenance customers.

The gross margin for the first quarter of 2020 was $932,790 compared with $1,061,508 in 2019. a 12% decrease due to our Australian reseller installing eight new systems in Q1 2019.

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, 2020 and 2019: 



For the Three Ended March 31,



2020


2019

Basic and diluted earnings per share calculation:





Net income to common stockholders

$

(1,188)

$

7,955

Weighted average number of common shares outstanding – basic


4,486,788


4,496,494

Basic net income per share

$

(0.00)

$

0.00

Weighted average number of common shares outstanding – diluted


4,486,788


4,504,503

Diluted net income per share

$

(0.00)

$

0.00

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/.

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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
Chief Financial Officer
Table Trac, Inc.
952-548-8877

SOURCE Table Trac, Inc.

Related Links

http://www.tabletrac.com/

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