BAB, Inc. Reports Profit for Year-ended 11/30/16

BAB, Inc. Reports Profit for Year-ended 11/30/16

DEERFIELD, Ill. - February 03, 2017 - (BUSINESS WIRE) - BAB, Inc. (OTCQB: BABB) announced its financial results for its fiscal year ended November 30, 2016, reporting net income of $449,000, or $0.06 per share.

For the year-ended November 30, 2016, BAB, Inc. had revenues of $2,386,000 and net income of $449,000, or $0.06 per share, versus revenues of $2,216,000 and net income of $110,000, or $0.02 per share, for the same period in 2015.

Total operating expenses for the year ended November 30, 2016, were $1,926,000 versus $2,113,000 for the year ended November 30, 2015. 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.

BAB, Inc. franchises and licenses Big Apple Bagels®, My Favorite Muffin®, SweetDuet® 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.

(TABLE FOLLOWS)

           
BAB, INC.          
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS        
           
           
  Fiscal Year Ended
           
    2016       2015     % Change  
REVENUES          
           
Royalty fees from franchised stores $ 1,744,640     $ 1,714,881     1.7 %
Franchise and area development fee revenue   113,000       85,000     32.9 %
Licensing fees and other income   528,527       415,899     27.1 %
Total Revenue   2,386,167       2,215,780     7.7 %
           
OPERATING COSTS AND EXPENSES          
           
Selling, general and administrative   1,906,294       2,095,628     -9.0 %
Depreciation and amortization   20,152       17,145     17.5 %
Total Operating Expense   1,926,446       2,112,773     -8.8 %
           
Income before interest, other and taxes   459,721       103,007     346.3 %
           
Interest expense   (1,323 )     (2,850 )   -53.6 %
Interest and other income   502       1,705     -70.6 %
           
Current tax expense/(benefit)   9,500       (8,500 )   -211.8 %
           
Net Income $ 449,400     $ 110,362     307.2 %
           
Earnings per share - basic and diluted   0.06       0.02      
Average number of shares outstanding   7,263,508       7,263,508      
                   

Contact:

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

SOURCE BAB, Inc.

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