Table Trac, Inc. Announces Second Quarter 2013 Financial Results
For the three months ended June 30, 2013, revenues totaled $1,425,043 compared to $981,637 for 2012. For the three months ended June 30, 2013, the income from operations was $292,568 compared to a loss of $162,568 for 2012.
The major components of revenues, cost of sales, and selling, general and administrative expenses are discussed in the 10-Q.
The 10-Q can be found at http://www.sec.gov
MINNETONKA, Minn., Aug. 13, 2013 /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 2013.
Second Quarter Highlights
In the second quarter, the Company announced a customer expansion as well as the signing of a casino management systems contract with North Dakota's Turtle Mountain Band of Chippewa. The Company also completed the installation of its casino management system with one of two California casinos that were signed in the first quarter of 2013. At the end of the second quarter, the Company had two casino management system installations in backlog.
The Company placed two CountR cash redemption kiosks with customers in the U.S. These cash redemption kiosks represent ancillary revenues for the Company and are a result of the strategic distribution agreement with CountR, announced in 2012.
The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the three and six months ended June 30, 2013 and 2012:
| Three Months Ended June 30, |
Six Months Ended June 30, |
||||||||
| 2013 |
2012 |
2013 |
2012 |
||||||
| Basic earnings (loss) per share calculation: |
|||||||||
| Net income (loss) to common stockholders |
$ |
195,515 |
$ |
(97,044) |
$ |
195,259 |
$ |
(194,199) |
|
| Weighted average number of common shares outstanding |
4,760,794 |
4,707,821 |
4,760,302 |
4,706,063 |
|||||
| Basic net income (loss) per share |
$ |
0.04 |
$ |
(0.02) |
$ |
0.04 |
$ |
(0.04) |
|
| Diluted earnings (loss) per share calculation: |
|||||||||
| Net income (loss) |
$ |
195,515 |
$ |
(97,044) |
$ |
195,259 |
$ |
(194,199) |
|
| Weighted average number of common shares outstanding |
4,760,794 |
4,707,821 |
4,760,302 |
4,706,063 |
|||||
| Common stock equivalents: |
|||||||||
| Stock options |
(1) |
(1) |
(1) |
(1) |
|||||
| Weighted average diluted shares outstanding |
4,760,794 |
4,707,821 |
4,760,302 |
4,706,063 |
|||||
| Diluted net income (loss) per share |
$ |
0.04 |
$ |
(0.02) |
$ |
0.04 |
$ |
(0.04) |
|
| (1) Stock options outstanding of 60,000 were not included in the calculation as they would have been anti-dilutive. |
|||||||||
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.
For More Information
| Glenn Goulet, CEO |
| Table Trac, Inc. |
| Phone: (952) 548-8877 |
SOURCE Table Trac, Inc.
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