BAB, Inc. Reports Profit for Year-ended 11/30/15

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.

About 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.

(TABLE FOLLOWS)

BAB, INC.        
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS        
             
             
    Fiscal Year Ended
             
    2015   2014   % Change
REVENUES            
             
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 %
Total Revenue     2,215,780       2,534,590     -12.6 %
             
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 expense     (2,850 )     (4,308 )   -33.8 %
Interest and other income     1,705       673     153.3 %
             
Current tax (benefit)/expense     (8,500 )     22,417     -137.9 %
             
Net Income   $ 110,362     $ 511,946     -78.4 %
             
Earnings per share - basic and diluted     0.02       0.07      
Average number of shares outstanding     7,263,508       7,263,508      
                     

SOURCE BAB, Inc.

Contact: 

Michael K. Murtaugh
BAB, Inc.
O: (847) 948-7520
F: (847) 405-8140

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