Table Trac reports 59% annual revenue increase for Q3
Its year-to-date financial results are also positive, showing a 60% rise to $8.1m.
Table Trac has announced its Q3 results, reporting revenue of $2.3m, a 59% increase from its 2021 third-quarter results. Meanwhile, its total revenue for the first three quarters of the year, ending September 30, was $8.1m, a 60% annual increase.
Net income results were also favorable for Table Trac in Q3, posting $290,126, a 55% increase from the $186,811 returned in the prior-year period. The company’s weighted average number of common shares was stable compared to Q3 of 2021, reporting at $4.5m.
Looking at the financial year to date, net income totaled $1.3m for the first nine months of 2022, compared to $956,453 for last year’s first three quarters.
Table Trac outlined a number of highlights that contributed to this positive Q3 performance. The company installed three systems at new locations and increased the number of games supplied to an existing client.
Its distributors also expanded their locations and installed systems at over 30 new locations this quarter. In June, Table Trac inked a deal with the Wisconsin casino Lake of the Torches Resort. Other operations this year included an expansion with Stagecoach Hotel & Casino in Death Valley, Nevada in January.
There is plenty on the horizon for Q4 of this year and beyond, with 10 system contracts and one current system expansion in the backlog – scheduled for installation over the next six months.
Founded in 1995, Table Trac designs, develops and sells casino information and proprietary management systems. The company has focused its systems installations in the Americas, as well as Australia and the Caribbean.
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