Table Trac announces financial results for 2018
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Table Trac Inc., a developer and provider of casino information and management systems that automate and monitor the operations of casinos announced financial results for 2018.
The company signed nine new customer contracts in 2018. During 2018, the company delivered product with a value of approximately $5,200,000 for new contracts at the respective contract dates.
Revenues increased from $6,380,367 in 2017 to $7,818,697 in 2018. The 23 per cent increase of $1.4M was due to larger system installations in 2018 compared to 2017 and an increase in maintenance revenue compared to 2017. Revenues from systems sales increased from $3,926,420 in 2017 to $4,953,871 in 2017, a 26.2 per cent increase of $1,027,451 compared to 2017. Ongoing maintenance revenue increased from $2,269,840 in 2017 to $2,635,122 in 2018, a 16.1 per cent increase of $365,282, due to high customer retention along with new accounts added during 2018.
Total operating expenses increased from $4,107,117 in 2017 to $4,611,097 in 2017 a 12 per cent increase of approximately $500k. This increase was primarily a result of the company’s increased sales and marketing efforts. The net income for 2018 was $514,965 compared to net income of $583,051 for 2017.
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. designs, develops and sells casino information and management systems. The company has systems installed in North, South, and Central America, as well as the Caribbean. More information is available at http://www.tabletrac.com/.
Source: Latest News on European Gaming Media Network
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