Table Trac, Inc. Reports 2024 First Quarter Earnings

MINNETONKA, Minn., May 10, 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 months ending March 31, 2024.

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

First Quarter 2024 Highlights

• The Company installed two systems at new customer locations, expanded the services at an existing customer and our distributors expanded our systems in new and current locations during the quarter.
   
• The Company had two customer contracts in backlog as of March 31, 2024. The company anticipates that these contracts will be installed during the second quarter of 2024. As of the filing date of this report, the Company signed two new contracts and has expansion plans with an existing customer.

First Quarter 2024 Financial Results

Maintenance revenue for the quarter was $1.28M compared to $1.21M in 2023, an increase of approximately 6%.

Service and other revenue for the quarter was $435K compared to $280K in 2023, an increase of approximately 55%.

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, 2024 and 2023:

		For the Three Months Ended
		March 31,
			2024			2023
Basic and diluted earnings per share calculation:
Net income		$	11,661		$	335,861
Weighted average number of common shares outstanding - basic			4,574,365			4,551,988
Basic net income per share		$	0.00		$	0.07
Weighted average number of common shares outstanding - diluted			4,601,471			4,626,930
Diluted net income per share		$	0.00		$	0.07

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 Australia and 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:
Randy Gilbert, CFO
Table Trac, Inc.
952-548-8877