Table Trac Announces 2nd Quarter 2014 Results - KALB-TV News Channel 5 & CBS 2

Table Trac Announces 2nd Quarter 2014 Results

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SOURCE Table Trac, Inc.

Company posts fifth consecutive profitable quarter

For the three months ended June 30, 2014, revenues totaled $907,302 while income from operations was $55,148. The major components of revenues, cost of sales, selling, general and administrative expenses are discussed in the 10-Q

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

MINNETONKA, Minn., Aug. 13, 2014 /PRNewswire/ -- Table Trac, Inc. (OTCBB: 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 second quarter of 2014, marking the 5th consecutive quarter of net income.

Second Quarter Highlights

In the second quarter, the Company completed the installation of one casino management system and provided hardware and software to support several exiting casinos in their expansion efforts in Latin America, the Caribbean and the U.S. At the end of the second quarter, the Company had one casino management system installations in backlog. 

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, 2014 and 2013:




 Three Months Ended 

June 30,



Six Months Ended

June 30,



2014


2013



2014


2013

Basic earnings (loss) per share calculation:










Net income (loss) to common stockholders

$

47,607

$

195,515


$

124,052

$

195,259

Weighted average number of common shares outstanding


4,775,876


4,760,794



4,775,344


4,760,302

Basic net income (loss) per share

$

0.01

$

0.04


$

0.03

$

0.04











Diluted earnings (loss) per share calculation:










Net income (loss)

$

47,607

$

195,515


$

124,052

$

195,259

Weighted average number of common shares outstanding


4,775,876


4,760,794



4,775,344


4,760,302











Common stock equivalents:










Stock options


(1)


(1)



(1)


(1)

Weighted average diluted shares outstanding


4,775,876


4,760,794



4,775,344


4,760,302

Diluted net income (loss) per share

$

0.01

$

0.04


$

0.03

$

0.04












(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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