In This Story
Table Trac, Inc. (TBTC0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in revenues to $2,547,600 from $1,836,204 in the same quarter the previous year. The increase is attributed to the delivery of two new systems during the quarter.
Cost of sales for the quarter was $747,293, representing 29.3% of revenues, compared to 23.3% in the same quarter of the previous year. This increase in cost ratio is due to a greater number of hardware items installed.
The company reported a gross profit of $1,800,307 for the quarter, compared to $1,407,404 in the previous year, with the margin decrease attributed to increased labor and equipment costs.
Selling, general, and administrative expenses increased to $1,531,810 from $1,292,263, primarily due to increased sales and marketing efforts.
Net income for the quarter was $292,379, up from $171,998 in the previous year. The basic and diluted income per share was $0.06, compared to $0.04 in the previous year.
Cash provided by operating activities was $1,689,903, while cash used in investing and financing activities was $3,079,655 and $92,696, respectively.
Table Trac had a working capital of $11,214,780 as of September 30, 2024. The company reports having adequate cash to meet its obligations for the next 12 months.
The filing details the company's product offerings, including its CasinoTrac system, and highlights its operations in 17 U.S. states and various international locations.
Table Trac has a revolving credit line of $500,000, with no borrowings outstanding as of September 30, 2024.
The company announced a cash dividend of $0.01 per share payable on December 13, 2024, to shareholders of record on November 29, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Table Trac, Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.