DEERFIELD, Ill. - October 06, 2015 - (BUSINESS WIRE) - BAB, Inc. (OTCQB: BABB), announced its financial results for the third quarter ended August 31, 2015.
For the quarter ended August 31, 2015, BAB had revenues of $609,000 and net income of $135,000, or $0.02 per share, versus revenues of $600,000 and net income of $168,000, or $0.02 per share, for the same quarter last year.
For the nine months ended August 31, 2015, BAB had revenues of $1,669,000 and a net income of $9,000, with $0.00 (zero) earnings per share, versus revenues of $1,906,000 and net income of $471,000, or $0.06 per share for the same period in 2014. The Company recognized revenue of $200,000 from an International Master Franchise Agreement in 2014 versus no such agreement in the same period in 2015. In addition, an expense of $243,000 was incurred in 2015 relating to the settlement of a lawsuit against BAB Operations, Inc., a wholly owned subsidiary of BAB, Inc., which involved the 2001 lease assignment of a Company-owned store that was subsequently franchised.
Total operating expenses for the quarter ended August 31, 2015, were $482,000, versus $439,000, in 2014. Total operating expenses for the nine months ended August 31, 2015 were $1,668,000 versus $1,425,000 for the nine months ended August 31, 2014. The operating expenses for the nine months in 2015 include the $243,000 legal settlement as explained in the previous paragraph.
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 www.babcorp.com.
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SOURCE BAB, Inc.
Michael K. Murtaugh
BAB, Inc.
(847) 948-7520
Fax: (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.