Table Trac, Inc. Reports 2024 Second Quarter Earnings

MINNETONKA, Minn., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Table Trac, Inc. (OTCQX: TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos, announced financial results for the three and six months ending June 30, 2024.

The 10-Q can be found @ http://www.sec.gov

Second Quarter 2024 Highlights

• The Company installed two systems, our distributors expanded our system in new and current locations during the quarter.

• The Company has four customer contracts in backlog as of June 30, 2024. The company anticipates that the majority of these contracts will be installed in the next two quarters. As of the filing date of this report, the Company has signed one new contract.

Financial Results

System revenue for the quarter was $2M compared to $907K in 2023, an increase of approximately 125%.

Net income for the quarter was $806,570 compared to $571,380 in 2023.

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, 2024 and 2023:

		For the Three Months Ended
		June 30,
			2024				2023
Basic and diluted earnings per share calculation:
Net income		$	806,570			$	571,380
Weighted average number of common shares outstanding - basic			4,574,365				4,552,450
Basic net income per share		$	0.18			$	0.13
Weighted average number of common shares outstanding - diluted			4,627,039				4,617,648
Diluted net income per share		$	0.17			$	0.12