Table Trac Announces Second Quarter 2015 Results

Aug 14, 2015, 12:54 ET from Table Trac, Inc.

MINNETONKA, Minn., Aug. 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 second quarter of 2015.

For the three months ended June 30, 2015, revenues totaled $726,135 compared to $907,302 for the same period in 2014, a decrease of 19.9%.  Net loss from operations was $319,198 for the three months ended June 30, 2015 compared to a net income from operations of $55,148 for the same period in 2014. 

For the six months ended June 30, 2015, revenues totaled $2,073,619 compared to $2,075,512 for the same period in 2014, a decrease of 0.9%.  Net loss from operations was $191,624 for the six months ended June 30, 2015 compared to a net income from operations of $150,980 for the same period in 2014. 

As of June 30, 2015 deferred revenue was $2,639,224 which is an increase of $1,684,668 from the balance of $954,556 at March 31, 2015.

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

Second Quarter Highlights

In the second quarter, the Company signed three Purchase Agreements, delivered one system, and continued to install systems in South America.  Most of the revenue for the projects delivered during the quarter was deferred, and will be recurring revenue in future periods. 

As of August 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 June 30, 2015 and 2014:




For the Three Months Ended June 30,



For the Six Months Ended June 30,



2015


2014



2015


2014

Basic earnings per share calculation:










Net income to common stockholders

$

(194,782)

$

47,607


$

(107,620)

$

124,052

Weighted average number of common shares outstanding


4,614,517


4,775,876



4,637,187


4,775,344

Basic net income per share

$

(0.04)

$

0.01


$

(0.02)

$

0.03











Diluted earnings per share calculation:










Net income

$

(194,782)

$

47,607


$

(107,620)

$

124,052

Weighted average number of common shares outstanding


4,614,517


4,775,876



4,637,187


4,775,344











Common stock equivalents:










Stock options


(1)


(2)



(1)


(2)

Weighted average diluted shares outstanding


4,614,517


4,775,876



4,637,187


4,775,344

Diluted net income per share

$

(0.04)

$

0.01


$

(0.02)

$

0.03


Stock options outstanding of (1) 10,000 and (2) 60,000 were not included in the calculation as the stock price is greater than the fair market price.

 

During the six month period ending June 30, 2015, the Company repurchased 119,649 shares, and retired 50,000 of those shares while retaining 69,649 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