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BAB, Inc. Reports Profit for 1st Quarter FY 2012

By: Big Apple Bagels, Inc. (BAB) |  5 Shares     160 Reads

DEERFIELD, Ill.--(BUSINESS WIRE)--BAB, Inc. (OTCBB: BABB), announced its financial results for the first quarter ended February 29, 2012.

For the quarter ended February 29, 2012, BAB had revenues of $567,000 and net income of $10,000, or $0.001 per share, versus revenues of $720,000 and net income of $35,000, or $0.005 per share, for the quarter ended February 28, 2011.

Revenues for the quarter ended February 29, 2012 were down $153,000 from the prior year's same quarter. Of this decrease, $94,000 was due to the fact that on November 30, 2011 BAB converted its Company-owned store to a franchise unit, resulting in no Company-owned store sales in 2012.

Total operating expenses were $557,000 for the quarter ended February 29, 2012, versus $684,000 for the same period in 2011. Of the $127,000 decrease in expenses in 2012 vs. 2011, $100,000 was due to the conversion of the Company-owned store to a franchise unit.

BAB, Inc. operates, franchises, and licenses Big Apple Bagels ®, My Favorite Muffin ® Jacobs Bros. Bagels ® 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.

BAB, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
		QUARTER ENDED
		02/29/12			02/28/11			% Change
REVENUES
Royalty fees from franchised stores		442,921			399,220			10.9	%
Net sales by company-owned stores		0			93,733			N/M
Franchise and area development fee revenue		5,000			84,300			-94.1	%
Licensing fees and other income		119,571			142,359			-16.0	%
		567,492			719,612			-21.1	%
OPERATING COSTS AND EXPENSES
Food, beverage and paper costs		0			32,862			N/M
Store payroll and other operating expenses		0			67,246			N/M
Selling, general and administrative		551,781			576,189			-4.2	%
Depreciation and amortization		4,784			7,423			-35.6	%
		556,565			683,720			-18.6	%
Income before interest, other and taxes		10,927			35,892			-69.6	%
Interest expense		(1,812	)		(2,127	)		-14.8	%
Interest income		706			1,090			-35.2	%
Net Income		9,821			34,855			-71.8	%
Earnings per share - basic		0.001			0.005			N/M
Average number of shares outstanding		7,263,508			7,263,508			N/M
Earnings per share - diluted		0.001			0.005			N/M
Average number of shares outstanding		7,265,265			7,264,561			N/M

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