BAB, Inc. Reports Profit for Year-ended 11/30/16

DEERFIELD, Ill.--()--BAB, Inc. (OTCQB: BABB) announced its financial results for its fiscal year ended November 30, 2016, reporting net income of $449,000, or $0.06 per share.

For the year-ended November 30, 2016, BAB, Inc. had revenues of $2,386,000 and net income of $449,000, or $0.06 per share, versus revenues of $2,216,000 and net income of $110,000, or $0.02 per share, for the same period in 2015.

Total operating expenses for the year ended November 30, 2016, were $1,926,000 versus $2,113,000 for the year ended November 30, 2015. The operating expenses for 2015 included $243,000 for the settlement of a lawsuit against BAB Operations, Inc., a wholly owned subsidiary of BAB, Inc.

BAB, Inc. franchises and licenses Big Apple Bagels®, My Favorite Muffin®, SweetDuet® and Brewster’s® Coffee. The Company’s stock is traded on the OTCQB under the symbol BABB and its web site can be visited at www.babcorp.com.

(TABLE FOLLOWS)

   
BAB, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
 
         
Fiscal Year Ended
 
  2016       2015     % Change  
REVENUES
 
Royalty fees from franchised stores $ 1,744,640 $ 1,714,881 1.7 %
Franchise and area development fee revenue 113,000 85,000 32.9 %
Licensing fees and other income   528,527       415,899   27.1 %
Total Revenue 2,386,167 2,215,780 7.7 %
 
OPERATING COSTS AND EXPENSES
 
Selling, general and administrative 1,906,294 2,095,628 -9.0 %
Depreciation and amortization   20,152       17,145   17.5 %
Total Operating Expense 1,926,446 2,112,773 -8.8 %
     
Income before interest, other and taxes   459,721       103,007   346.3 %
 
Interest expense (1,323 ) (2,850 ) -53.6 %
Interest and other income 502 1,705 -70.6 %
 
Current tax expense/(benefit) 9,500 (8,500 ) -211.8 %
     
Net Income $ 449,400     $ 110,362   307.2 %
 
Earnings per share - basic and diluted 0.06 0.02
Average number of shares outstanding 7,263,508 7,263,508
 

Contacts

BAB, Inc.
Michael K. Murtaugh (847) 948-7520
Fax: (847) 405-8140
www.babcorp.com

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Release Summary

BAB, Inc. reports profit for the year ended November 30, 2016.

BAB, Inc.