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

By: Big Apple Bagels, Inc. (BAB) | 0 Shares 245 Reads

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.

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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