Table Trac ( (TBTC) ) has released its Q3 earnings. Here is a breakdown of the information Table Trac presented to its investors.
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Table Trac, Inc. is a company based in Minnetonka, Minnesota, that specializes in developing and selling casino management systems, catering primarily to the casino industry, with a focus on system sales, installation, and technical support.
In its latest quarterly earnings report for the period ending September 30, 2024, Table Trac, Inc. reported notable growth in its financial performance. The company’s revenues increased significantly compared to the previous year, highlighting a positive trajectory in system sales and maintenance services.
The company achieved a revenue of $2.55 million for the quarter, marking a substantial increase from $1.84 million in the same period last year. This growth was driven by a 24.1% contribution from system sales, while maintenance services accounted for 54.5% of the total revenues. The company’s net income also rose to $292,379, up from $171,998, reflecting improved profitability.
One of the key highlights was the increase in short-term investments and a reduction in inventory levels, demonstrating efficient management of assets and liabilities. The company’s operating expenses grew slightly, but this was offset by higher revenues and interest income. The company also maintained a solid balance sheet with total assets amounting to $13.17 million.
Looking ahead, Table Trac’s management remains focused on expanding its market presence and continuing its growth trajectory. The company aims to leverage its innovative casino management solutions to strengthen its position in the industry, while maintaining a strong financial footing to support future developments.
