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12.08.2020 23:41:00
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Table Trac Announces Second Quarter 2020 Results
MINNETONKA, Minn., Aug. 12, 2020 /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, 2020.
The 10-Q can be found @ http://www.sec.gov
Second Quarter Highlights
- The Company delivered four systems during the quarter.
- The Company had three new customer contracts in backlog as of June 30, 2020 that are scheduled for delivery in the third quarter of 2020.
Second Quarter Financial Results
Net Income for the second quarter of 2020 was $33,574 compared to income of $266,763 in 2019, a decrease of approximately $233,000. This decrease is due to the COVID-19 induced industry shutdown.
Operating expenses for the second quarter of 2020 were $1,037,504 compared with $1,217,112 in 2019. a 15% decrease.
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, 2020 and 2019:
For the Three Months Ended | |||||
2020 | 2019 | ||||
Basic and diluted earnings per share calculation: | |||||
Net income to common stockholders | $ | 33,574 | $ | 266,763 | |
Weighted average number of common shares outstanding - basic | 4,486,788 | 4,498,668 | |||
Basic net income per share | $ | 0.01 | $ | 0.06 | |
Weighted average number of common shares outstanding - diluted | 4,492,435 | 4,505,354 | |||
Diluted net income per share | $ | 0.01 | $ | 0.06 | |
The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the six months ended June 30, 2020 and 2019:
For the Six Months Ended | |||||
2020 | 2019 | ||||
Basic and diluted earnings per share calculation: | |||||
Net income to common stockholders | $ | 32,386 | $ | 274,718 | |
Weighted average number of common shares outstanding - basic | 4,486,788 | 4,498,668 | |||
Basic net income per share | $ | 0.01 | $ | 0.06 | |
Weighted average number of common shares outstanding - diluted | 4,493,684 | 4,507,736 | |||
Diluted net income per share | $ | 0.01 | $ | 0.06 | |
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, CFO
Table Trac, Inc.
952-548-8877
View original content:http://www.prnewswire.com/news-releases/table-trac-announces-second-quarter-2020-results-301111379.html
SOURCE Table Trac, Inc.
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