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

By: Big Apple Bagels, Inc. (BAB) |  0 Shares     137 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.

(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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