BAB, Inc. Reports Profit for 1st Quarter FY 2014

By: Big Apple Bagels, Inc. (BAB) | 0 Shares 67 Reads

DEERFIELD, Ill. - April 07, 2014 - (BUSINESS WIRE) - BAB, Inc. (OTCBB: BABB), announced its financial results for the first quarter ended February 28, 2014.

For the quarter ended February 28, 2014, BAB had revenues of $537,000 and net income of $31,000, or $0.004 per share, versus revenues of $535,000 and a net loss of $65,000, or $0.009 per share, for the quarter ended February 28, 2013.

Total operating expenses were $505,000 for the quarter ended February 28, 2014, versus $599,000 for the same period in 2013 due primarily to decreases in payroll and payroll related expenses.

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

Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “forecast,” “estimate,” “project,” “intend,” “expect,” “should,” “would,” “believe” and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the company’s actual results, performance (financial or operating), or achievements to differ from the future results, performance (financial or operating), or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the company’s SEC filings.

BAB, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS


	QUARTER ENDED

	02/28/14		02/28/13		% Change

REVENUES

Royalty fees from franchised stores	396,706		419,919		-5.5	%
Franchise and area development fee revenue	35,000		0		N/M
Licensing fees and other income	105,165		115,160		-8.7	%
	536,871		535,079		0.3	%

OPERATING COSTS AND EXPENSES

Selling, general and administrative	500,085		594,916		-15.9	%
Depreciation and amortization	4,561		4,344		5.0	%
	504,646		599,260		-15.8	%

Income/(Loss) before interest, other and taxes	32,225		(64,181	)	-150.2	%

Interest expense	(1,137	)	(1,482	)	-23.3	%
Interest income	148		307		-51.8	%

Net Income/(Loss)	31,236		(65,356	)	-147.8	%

Earnings/(Loss) per share - basic	0.004		(0.009	)	N/M
Average number of shares outstanding	7,263,508		7,263,508		N/M

Earnings/(Loss) per share - diluted	0.004		(0.009	)	N/M
Average number of shares outstanding	7,266,245		7,265,265		N/M