Table Trac, Inc. Announces Third Quarter 2012 Financial Results
For the three months ended September 30, 2012, revenues totaled $994,818 compared to $968,833 for 2011. For the three months ended September 30, 2012, the Company reported a loss from operations of $46,804 compared to a profit of $52,931 for 2011. 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 @ http://www.sec.gov
MINNETONKA, Minn., Nov. 13, 2012 /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 third quarter of 2012.
Third Quarter Highlights
In the third quarter 2012, Table Trac signed two contracts and installed its casino management system at five casinos. The contracts were signed with the Delaware Nation for its property, Casino Oklahoma, in Hinton, Oklahoma; and with Thunderbird Resorts in Peru, representing four casinos, including Luxor Lima, Luxor Tacna, Mystic Slots in Cusco, and the El Dorado Maynes. Table Trac's system in Peru is an interconnected computerized system in real-time with a connection to the Peru government's Ministry of Foreign Trade and Tourism and the National Superindence of Tax Administration. This contract brings the total number of casinos in Peru using Table Trac's casino management system to five.
At the end of the third quarter the Company had no System installations in backlog and is now providing casino management and table games management system to 43 casinos worldwide.
The Company also showcased its products and technologies at the Oklahoma Indian Gaming Association trade show and conference in Oklahoma City.
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 September 30, 2012 and 2011:
| Three Months Ended September 30, |
Nine Months Ended September 30, |
||||||||
| 2012 |
2011 |
2012 |
2011 |
||||||
| Basic earnings (loss) per share calculation: |
|||||||||
| Net income (loss) |
$ |
(4,371) |
$ |
45,569 |
$ |
(198,570) |
$ |
(435,888) |
|
| Weighted average number of common shares outstanding |
4,744,305 |
4,699,892 |
4,718,904 |
4,634,884 |
|||||
| Basic net income (loss) per share |
$ |
(0.00) |
$ |
0.01 |
$ |
(0.04) |
$ |
(0.09) |
|
| Diluted earnings (loss) per share calculation: |
|||||||||
| Net income (loss) |
$ |
(4,371) |
$ |
45,569 |
$ |
(198,570) |
$ |
(435,888) |
|
| Weighted average number of common shares outstanding |
4,744,305 |
4,699,892 |
4,718,904 |
4,634,884 |
|||||
| Common stock equivalents: |
|||||||||
| Stock options |
(1) |
(1) |
(1) |
(1) |
|||||
| Weighted average diluted shares outstanding |
4,744,305 |
4,699,892 |
4,718,904 |
4,634,884 |
|||||
| Diluted net Income (loss) per share |
$ |
(0.00) |
$ |
0.01 |
$ |
(0.04) |
$ |
(0.09) |
|
| (1) Stock options outstanding of 70,000 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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