• Home:
• News:
• Big Apple Bagels, Inc. (BAB):

BAB, Inc. Reports Profit for 2nd Quarter FY 2014

By: Big Apple Bagels, Inc. (BAB) |  0 Shares     104 Reads

DEERFIELD, Ill. - July 07, 2014 - (BUSINESS WIRE)  BAB, Inc. (OTCBB: BABB), announced its financial results for the second quarter ended May 31, 2014.

For the quarter ended May 31, 2014, BAB had revenues of $769,000 and net income of $272,000, or $0.04 per share, versus revenues of $658,000 and net income of $125,000, or $0.02 per share, for the same quarter last year. For the quarter ended May 31, 2014, the Company received a $200,000 International Master Franchise Agreement.

For the six months ended May 31, 2014, BAB had revenues of $1,306,000 and net income of $303,000, or $0.04 per share, versus revenues of $1,193,000 and net income of $60,000, or $0.01 per share for the same period in 2013. As noted above, the Company received a $200,000 International Master Franchise Agreement in 2014 versus no such agreement in the same period in 2013.

Total operating expenses for the quarter ended May 31, 2014, were $482,000, versus $531,000, in 2013. The primary cost reduction for the second quarter 2014 compared to 2013 has been payroll and payroll related expenses. Total operating expenses for the six months ended May 31, 2014 were $986,000 versus $1,131,000 for the six months ended May 31, 2013. The primary cost reduction for 2014 has been 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.

BAB, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
		Quarter Ended									Six Months Ended
		05/31/14			05/31/13			% Change			05/31/14			05/31/13			% Change
REVENUES
Royalty fees from franchised stores		$456,007			$467,525			-2.5	%		$852,713			$887,444			-3.9	%
Franchise and area development fee revenue		200,000			10,000			1900.0	%		235,000			10,000			2250.0	%
Licensing fees and other income		113,334			180,632			-37.3	%		218,499			295,792			-26.1	%
Total Revenue		769,341			658,157			16.9	%		1,306,212			1,193,236			9.5	%
OPERATING COSTS AND EXPENSES
Selling, general and administrative		477,174			527,118			-9.5	%		977,259			1,122,034			-12.9	%
Depreciation and amortization		4,553			4,367			4.3	%		9,114			8,711			4.6	%
Total Expense		481,727			531,485			-9.4	%		986,373			1,130,745			-12.8	%
Income from operations		287,614			126,672			127.1	%		319,839			62,491			411.8	%
Interest expense		(1,137	)		(1,482	)		-23.3	%		(2,274	)		(2,964	)		-23.3	%
Interest/other income		118			248			-52.4	%		266			555			-52.1	%
Current tax		(15,000	)		0			N/M			(15,000	)		0			N/M
NET INCOME		$271,595			$125,438			116.5	%		$302,831			$60,082			404.0	%
Earnings per share - basic		$0.04			$0.02			N/M			$0.04			$0.01			N/M
Average number of shares outstanding		7,263,508			7,263,508						7,263,508			7,263,508
Earnings per share - diluted		$0.04			$0.02			N/M			$0.04			$0.01			N/M
Average number of shares outstanding		7,265,931			7,267,558						7,266,091			7,266,718

SOURCE BAB, Inc. 

Contact:

Michael K. Murtaugh
BAB, Inc.
(847) 948-7520
Fax: (847) 405-8140
www.babcorp.com

###

Comments:

comments powered by Disqus