BAB, Inc. Reports Profit for 2nd Quarter FY 2017

DEERFIELD, Ill. - July 06, 2017 - (BUSINESS WIRE) - BAB, Inc. (OTCQB: BABB), announced its financial results for the second quarter ended May 31, 2017.

For the quarter ended May 31, 2017, BAB had revenues of $608,000 and net income of $136,000, or $0.02 per share, versus revenues of $564,000 and net income of $132,000, or $0.02 per share, for the same quarter last year.

For the six months ended May 31, 2017, BAB had revenues of $1,101,000 and net income of $189,000, or $0.03 per share, versus revenues of $1,145,000 and net income of $221,000, or $0.03 per share for the same period in 2016.

Total operating expenses for the quarter ended May 31, 2017, were $472,000, versus $433,000, in 2016. Total operating expenses for the six months ended May 31, 2017 were $912,000 versus $924,000 for the six months ended May 31, 2016.

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 website can be visited at www.babcorp.com.

Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “forecast,” “estimate,” “project,” “intend,” “expect,” “should,” “would,” “believe” and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the company’s actual results, performance (financial or operating), or achievements to differ from the future results, performance (financial or operating), or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the company’s SEC filings.

(TABLE FOLLOWS)

 
BAB, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                           
                           
    Quarter Ended     Six Months Ended
    05/31/17   05/31/16   % Change     05/31/17   05/31/16   % Change
                           
REVENUES                          
                           
Royalty fees from franchised stores   $447,982   $449,713     -0.4 %     $848,243   $856,613     -1.0 %
Franchise and area development fee revenue   40,000   3,000     1233.3 %     40,000   18,000     122.2 %
Licensing fees and other income   119,895   111,727     7.3 %     212,355   270,704     -21.6 %
Total Revenue   607,877   564,440     7.7 %     1,100,598   1,145,317     -3.9 %
                           
OPERATING COSTS AND EXPENSES                          
                           
Selling, general and administrative   466,726   427,371     9.2 %     901,555   914,063     -1.4 %
Depreciation and amortization   5,170   5,167     0.1 %     10,378   10,016     3.6 %
Total Expense   471,896   432,538     9.1 %     911,933   924,079     -1.3 %
                           
Income from operations   135,981   131,902     3.1 %     188,665   221,238     -14.7 %
Interest expense   -   (397 )   -100.0 %     -   (794 )   -100.0 %
Interest/other income   31   147     -78.9 %     63   333     -81.1 %
Income taxes   -   -     N/M       -   -     N/M  
                           
NET INCOME   $136,012   $131,652     3.3 %     $188,728   $220,777     -14.5 %
                           
Earnings per share - basic and diluted   $0.02   $0.02     N/M       $0.03   $0.03     N/M  
Average number of shares outstanding   7,263,508   7,263,508           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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