BAB, Inc. Reports Profit for Year-ended 11/30/2013
DEERFIELD, Ill. - February 19, 2014 - (BUSINESS WIRE) - BAB, Inc. (OTCBB: BABB) announced its financial results for its fiscal year ended November 30, 2013, reporting net income of $351,000, or $0.05 per share.
For the year-ended November 30, 2013, BAB had revenues of $2,450,000 and net income of $351,000, or $0.05 per share, versus revenues of $2,675,000 and net income of $419,000, or $0.06 per share, for the same period in 2012.
Total operating expenses for the year ended November 30, 2013, were 2,065,000 versus $2,236,000 for the year ended November 30, 2012.
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.
|CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS|
|Fiscal Year Ended|
|Royalty fees from franchised stores||1,785,921||1,859,064||-3.9||%|
|Franchise and area development fee revenue||60,000||102,500||-41.5||%|
|Licensing fees and other income||604,273||713,258||-15.3||%|
|OPERATING COSTS AND EXPENSES|
|Selling, general and administrative||2,047,370||2,217,332||-7.7||%|
|Depreciation and amortization||17,493||18,924||-7.6||%|
|Total Operating Expense||2,064,863||2,236,256||-7.7||%|
|Income before interest, other and taxes||385,331||438,566||-12.1||%|
|Interest and other income||968||2,542||-61.9||%|
|Current tax expense||(30,067||)||(15,000||)||N/M|
|Earnings per share - basic||0.05||0.06||N/M|
|Average number of shares outstanding||7,263,508||7,263,508||N/M|
|Earnings per share - diluted||0.05||0.06||N/M|
|Average number of shares outstanding||7,268,608||7,265,860||N/M|
Michael K. Murtaugh
Fax: (847) 405-8140