Table Trac, Inc. Announces First Quarter 2014 Financial Results - CBS46 News

Table Trac, Inc. Announces First Quarter 2014 Financial Results

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SOURCE Table Trac, Inc.

For the three months ended March 31, 2014, revenues totaled $1,168,210 compared to $909,323 for 2013. For the three months ended March 31, 2014, the Company reported income from operations of $95,832 compared to a loss ($17,098) in 2013. 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., May 14, 2014 /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 first quarter of 2014.

First Quarter Highlights

In the first quarter, the Company completed the installation of one casino management system it had in backlog. The Company also placed two CountR cash redemption kiosks with customers in the U.S.  At the end of the quarter, the Company had casino management systems, table games management systems and ancillary products installed with on-going support and maintenance contracts at forty-seven casinos worldwide and has its products in ten U.S. states, as well as countries in Central and South America, and the Caribbean.

The Company has one installation project for a casino management system in its backlog as of May 14, 2014.

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, 2014 and 2013:



 Three Months Ended
March 31,



2014


2013

Basic earnings (loss) per share calculation:





Net income (loss) to common stockholders

$

76,445

$

(256)

Weighted average number of common shares outstanding


4,774,805


4,759,805

Basic net income (loss) per share

$

0.02

$

(0.00)






Diluted earnings (loss) per share calculation:





Net income (loss)

$

76,445

$

(256)

Weighted average number of common shares outstanding


4,774,805


4,759,805






Common stock equivalents:





Stock options


(1)


(1)

Weighted average diluted shares outstanding


4,774,805


4,759,805

Diluted net income (loss) per share

$

0.02

$

(0.00)






(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

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