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Table Trac Reports Q2 2001 Results7 August 2001MINNEAPOLIS, Minnesota –(Press Release) --August 7, 2001 -- Table Trac, Inc. (OTC Bulletin Board: TBTC), a technology company whose patented real-time management system product automates and monitors the operation of casino table games, today reported second quarter and six months results for the period ended June 30, 2001. Second quarter revenues for the period ended June 30, 2001 were $33,121, compared to $54,387 in the comparable period. The net loss was $75,434, or $0.02 per share on 946,820 more shares outstanding, compared to a net loss of $13,913, or $0.00 per share. Six months revenues for the period ended June 30, 2001 were $49,182, compared to $61,806 in the comparable period. The net loss was $152,384, or $0.04 per share on 946,820 more shares outstanding, compared to a net loss of $68,536, or $0.02 per share. The increase in shares outstanding in both periods reflects the completion of two private placements and debt conversion. Chad B. Hoehne, president and CEO, said, ``While the second quarter reflected higher component and software sales, we experienced a decrease in license and programming fees to casino installations in Minnesota and Wisconsin. As we grow and expand our presence, increased marketing expenses are deemed necessary so as to establish Table Trac as an innovative provider of technology to the gaming industry.'' The company also cited its recently completed joint venture and distribution agreements with Global Payment Technologies, Inc. (Nasdaq: GPTX) for worldwide marketing by Global Payment of the new table gaming product, Table Trac Lite. Table Trac Lite is a combination of patented technologies of both companies incorporating Global's new ARGUS validator that accepts and validates worldwide currencies. |