MINNETONKA, Minn., May 14, 2019 /PRNewswire/ -- Table Trac, Inc. (OTCQB: TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos, announced financial results for the quarter ending March 31, 2019.
The 10-Q can be found @ http://www.sec.gov
First Quarter Highlights
- The Company's reseller in Australia began installing systems.
- The Company delivered three systems during the quarter.
- The Company had three new customer contracts in backlog as of March 31, 2019 that are scheduled for delivery in the second quarter of 2019.
First Quarter Financial Results
Revenues increased from $1,081,268 in 2018 to $1,368,630 in 2019.
Ongoing maintenance revenue increased from $627,018 in 2018 to $672,569 in 2019, a 7.3% increase of approximately $46,000 due to an increasing number of maintenance customers.
The gross margin for the first quarter of 2019 was $1,115,165 compared with $777,573 in 2018, a 43.4% increase of $337,592 due to our Australian reseller installing eight new systems.
The net income for 2019 was $7,955 compared to net loss of $179,836 for 2018.
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, 2019 and 2018:
For the Three Months Ended
Basic and diluted earnings per share calculation:
Net income (loss) to common stockholders
Weighted average number of common shares outstanding - basic
Basic net income (loss) per share
Weighted average number of common shares outstanding - diluted
Diluted net income (loss) per share
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:
Table Trac, Inc.
SOURCE Table Trac, Inc.