Table Trac net income during Q1 2022 reaches $1.3m
The company has expanded throughout the quarter due to system installations at three new locations.
Table Trac has posted its financial report for the first quarter, which ended March 31, 2022. Net income for the quarter reached close to $1.3m, almost doubling what it earned during the same period in 2021.
During Q1, the company installed three systems at new locations. The company’s distributors also added additional games to its current customer locations.
Table Trac had nine customer contracts backlogged at the end of the first quarter. The company believes that it will install most of these contracts throughout the next two quarters.
Table Trac President and CEO Chad Hoehne said: “We are solidly on the right track, expanding and supplying our customers without interruption with a full schedule of installations coming into 2022.”
Table Trac also experienced expansion during 2021. The company installed its CasinoTrac system in 10 locations during the fiscal year.
Table Trac CFO Randy Gilbert commented: “We ended 2021 with 10 new installations and eight customers in our backlog. We expect most of the backlog to be installed by the end of Q2 2022.
“Looking at our costs, the optimization measures we implemented during 2020 and continued throughout all of 2021 have made us a more nimble and efficient organization, reflected by strong margins and reduced operating expenses, we expect to continue this model in 2022.”
Table Trac was founded in 1995. It is a developer and provider of casino information and management systems designed to automate and monitor casino operations. The company has systems installed throughout North American, South America and Central America, as well as in Australia and in the Caribbean.
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