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Table Trac announces 2018 year-end results

31 March 2019

(PRESS RELEASE) -- Table Trac, Inc., a developer and provider of casino information and management systems that automate and monitor the operations of casinos, announced financial results for the year ended 31 December 2018.

Year-end highlights
  • The company signed nine new customer contracts in 2018. At the end of 2018, the company had casino management systems, table games management systems and ancillary products installed with on-going support and maintenance contracts with 93 casino operators in over 140 casinos worldwide.
  • During 2018, the company delivered product with a value of approximately $5,200,000 for new contracts at the respective contract dates. Approximately $350,000 of the revenue for these system sales was deferred, and will be recognized in future periods, since a substantial amount is not due within 12 months. As a result, those contracts, along with the related maintenance, is expected to add approximately $434,000 annually to the existing recurring revenue
  • The company's CFO application for licensure was unanimously approved by the Nevada Gaming Commission during 2018.
Year-to-date financial results
Revenues increased from $6,380,367 in 2017 to $7,818,697 in 2018. The 23% increase of $1.4 million was due to larger system installations in 2018 compared to 2017 and an increase in maintenance revenue compared to 2017.

Revenues from systems sales increased from $3,926,420 in 2017 to $4,953,871 in 2017, a 26.2% increase of $1,027,451 compared to 2017.

Ongoing maintenance revenue increased from $2,269,840 in 2017 to $2,635,122 in 2018, a 16.1% increase of $365,282, due to high customer retention along with new accounts added during 2018.

Total operating expenses increased from $4,107,117 in 2017 to $4,611,097 in 2017 a 12% increase of approximately $500k. This increase was primarily a result of the company's increased sales and marketing efforts

The net income for 2018 was $514,965, compared to net income of $583,051 for 2017.

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Table Trac announces 2018 year-end results is republished from Online.CasinoCity.com.