Table Trac Announces First Quarter 2015 Results

May 14, 2015, 14:30 ET from Table Trac, Inc.

MINNETONKA, Minn., May 14, 2015 /PRNewswire/ -- Table Trac, Inc. (OTCBB: TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos, today announced financial results for its first quarter of 2015.

For the three months ended March 31, 2015, revenues totaled $1,347,484 compared to $1,168,210 for the same period in 2014, an increase of 15.3%.  Net income from operations was $127,574 for the three months end March 31, 2015 compared to $95,832 for the same period in 2014, an increase of 33.1%.  The major components of revenues, cost of sales, and selling, general and administrative expenses are discussed in the 10Q.

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

First Quarter Highlights

In the first quarter, the Company completed the sale of one casino management system to an existing customer, and began installation of several new casinos in South America.  

As of May 14, 2015, the Company also has one signed contract in the process of delivery.

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, 2015 and 2014:




For the Three Months Ended March 31,



2015


2014

Basic earnings per share calculation:





Net income to common stockholders

$

87,162

$

76,445

Weighted average number of common shares outstanding


4,660,109


4,774,805

Basic net income per share

$

0.02

$

0.02






Diluted earnings per share calculation:





Net income

$

87,162

$

76,445

Weighted average number of common shares outstanding


4,660,109


4,774,805






Common stock equivalents:





Stock options


(1)


(2)

Weighted average diluted shares outstanding


4,660,109


4,774,805

Diluted net income per share

$

0.02

$

0.02






Stock options outstanding of (1) 10,000 and (2) 60,000 were not included in the calculation as they would have been anti-dilutive.

During the three month period ending March 31, 2015, the Company repurchased 90,217 shares, and retired 50,000 of those shares while retaining 40,217 shares in its treasury. 

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:
Brian Hinchley
Table Trac, Inc.
952-548-8877

 

SOURCE Table Trac, Inc.



RELATED LINKS

http://www.tabletrac.com