DEERFIELD, Ill. - January 29, 2016 - (BUSINESS WIRE) - BAB, Inc. (OTCQB: BABB) announced its financial results for its fiscal year ended November 30, 2015, reporting net income of $110,000, or $0.02 per share.
For the year-ended November 30, 2015, BAB, Inc. had revenues of $2,216,000 and net income of $110,000, or $0.02 per share, versus revenues of $2,535,000 and net income of $512,000, or $0.07 per share, for the same period in 2014. The Company received a $200,000 International Master Franchise Agreement in 2014 versus no such agreement in the same period in 2015.
Total operating expenses for the year ended November 30, 2015, were $2,113,000 versus $1,997,000 for the year ended November 30, 2014. The operating expenses for 2015 included $243,000 for the settlement of a lawsuit against BAB Operations, Inc., a wholly owned subsidiary of BAB, Inc.
BAB, Inc. franchises and licenses Big Apple Bagels®, My Favorite Muffin®, SweetDuet® frozen yogurt and Brewster’s® coffee. The Company’s stock is traded on the OTCQB under the symbol BABB and its web site can be visited at t www.babcorp.com.
|CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS|
|Fiscal Year Ended|
|Royalty fees from franchised stores||$||1,714,881||$||1,746,991||-1.8||%|
|Franchise and area development fee revenue||85,000||277,500||-69.4||%|
|Licensing fees and other income||415,899||510,099||-18.5||%|
|OPERATING COSTS AND EXPENSES|
|Selling, general and administrative||2,095,628||1,978,609||5.9||%|
|Depreciation and amortization||17,145||17,983||-4.7||%|
|Total Operating Expense||2,112,773||1,996,592||5.8||%|
|Income before interest, other and taxes||103,007||537,998||-80.9||%|
|Interest and other income||1,705||673||153.3||%|
|Current tax (benefit)/expense||(8,500||)||22,417||-137.9||%|
|Earnings per share - basic and diluted||0.02||0.07|
|Average number of shares outstanding||7,263,508||7,263,508|
SOURCE BAB, Inc.
Michael K. Murtaugh
O: (847) 948-7520
F: (847) 405-8140
Big Apple Bagels, Inc. (BAB) operates, franchises, and licenses Big Apple Bagels ®, My Favorite Muffin ®, Jacobs Bros. Bagels ® and Brewster's ® Coffee.