Table Trac, Inc. Announces Second Quarter 2011 Financial Results

MINNETONKA, Minn., Aug. 15, 2011 /PRNewswire/ -- Table Trac, Inc. (OTCQB: 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 2011.

Second Quarter Highlights

During the second quarter of 2011, the Company completed four casino management system installations in Oklahoma and Montana.  During the quarter, the Company had one additional casino management system contract in backlog that is anticipated being complete in the third quarter 2011. The Company's backlog generally consists of future system installations and expansion of offerings for currently installed and supported systems.

In the second quarter the Company hired a Chief Financial Officer and elected two new members to its Board of Directors.

The Company also participated in several industry events including the Southern Gaming Summit in Biloxi, Mississippi; CasinoFest in Catoosa, Oklahoma; and G2E Asia in Macau, where the company unveiled its latest table games management system. In the third quarter, the company is planning to participate in the Oklahoma Indian Gaming Association trade show and conference in Tulsa.

In 2010, the Company began offering certain new customers a rental contract. Revenues are billed monthly based on a per game per day basis. There is an option to purchase the system after the rental agreement at a pre-determined residual value. In essence, rental agreements provide a predictable longer term revenue stream which differs from the single payment recognition that results in the historical up and down financial effect from quarter to quarter. The Company currently has three customers under rental contracts.

The Company has casino management systems operational in gaming establishments in six U.S. states, as well as countries in Central and South America and the Caribbean.

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, 2011 and 2010:

The Company will host a conference call beginning at 4:30 p.m. ET (3:30 p.m. CT) on Monday, August 22, 2011. The call is open to the general public.

The conference call number is 877-652-0046 with a conference ID code of 91691114.

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

Statements made in this press release, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute "forward-looking statements" within the meaning of the federal securities laws. These certain statements are based on our assumptions and estimates and are subject to risks and uncertainties. You can identify these forward-looking statements by words like "strategy," "expects," "plans," "believes," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. For these statements, we claim the protection of the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995.

For further information on factors that could impact Table Trac and statements contained in this press release, reference should be made to Table Trac's filings with the Securities and Exchange Commission, including quarterly reports on Forms 10-Q, current reports on Form 8-K and annual reports on Form 10-K. You can access such filings at http://www.sec.gov.

SOURCE Table Trac, Inc.