Aug 13, 2019   SOURCE: PR NewsWire

Table Trac Announces Second Quarter 2019 Results

MINNETONKA, Minn., Aug. 13, 2019 /PRNewswire/ -- 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 quarter ending June 30, 2019.

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

Second Quarter Highlights

    --  The Company's reseller in Australia continued installing systems
    --  The Company delivered three systems during the quarter.
    --  The Company had four new customer contracts in backlog as of June 30,
        2019 that are scheduled for delivery in the third quarter of 2019.

Second Quarter Financial Results

Revenues were $2,254,339 in 2019 compared to $3,003,135 in 2018.

Ongoing maintenance revenue increased from $626,690 in 2018 to $691,703 in 2019, a 10.4% increase of approximately $65,000 due to an increasing number of maintenance customers.

The gross margin for the second quarter of 2019 was $1,533,361 compared with $1,806,604 in 2018.

The net income for 2019 was $266,763 compared to net income of $410,538 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 and six months ended June 30, 2019 and 2018, respectively:


                                                   For the Three Months Ended                           For the Six Months Ended
                                          June 30,                                June 30,



                                             2019                            2018                  2019                      2018



                Basic and diluted
                 earnings per
                 share
                 calculation:


     Net income to
      common
      stockholders                $
          266,763               $
            410,538       $
          274,718         $
            230,701



     Weighted average
      number of common
      shares
      outstanding -
      basic                             4,498,668                       4,477,545             4,498,668                 4,468,630


     Basic net income
      per share                      $
          0.06                  $
            0.09          $
          0.06            $
            0.05



     Weighted average
      number of common
      shares
      outstanding -
      diluted                           4,507,736                       4,477,545             4,505,354                 4,468,630


     Diluted net
      income per share               $
          0.06                  $
            0.09          $
          0.06            $
            0.05

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

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SOURCE Table Trac, Inc.