BAB, Inc. Reports Profit for 3rd Quarter FY 2018

DEERFIELD, Ill. - Oct. 03, 2018 // GLOBE NEWSWIRE // - BAB, Inc. (OTCQB: BABB), announced its financial results for the third quarter ended August 31, 2018.

For the quarter ended August 31, 2018, BAB had revenues of $556,000 and net income of $173,000, 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 nine months ended August 31, 2018, BAB had revenues of $1,617,000 and net income of $451,000, or $0.06 per share, versus revenues of $1,664,000 and net income of $321,000, or $0.04 per share for the same period in 2017.

Total operating expenses for the quarter ended August 31, 2018, were $384,000, versus $432,000, in 2017. Total operating expenses for the nine months ended August 31, 2018 were $1,151,000 versus $1,344,000 for the nine months ended August 31, 2017.

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.

Contact:

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

(Table Follows)

BAB, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                       
                             
  Quarter Ended   Nine Months Ended
  08/31/18   08/31/17   % Change   08/31/18   08/31/17   % Change
             
REVENUES            
             
Royalty fees from franchised stores $ 431,786   $ 446,778   -3.4 %   $ 1,242,272   $ 1,295,021   -4.1 %
Franchise and area development fee revenue   18,000     10,000   80.0 %     19,500     50,000   -61.0 %
Licensing fees and other income   106,402     107,049   -0.6 %     355,354     319,404   11.3 %
Total Revenue   556,188     563,827   -1.4 %     1,617,126     1,664,425   -2.8 %
                       
OPERATING COSTS AND EXPENSES                      
                       
Selling, general and administrative   383,362     431,161   -11.1 %     1,150,527     1,332,716   -13.7 %
Depreciation and amortization   288     617   -53.3 %     728     10,995   -93.4 %
Total Expense   383,650     431,778   -11.1 %     1,151,255     1,343,711   -14.3 %
                       
Income from operations   172,538     132,049   30.7 %     465,871     320,714   45.3 %
Interest expense   -     -         -     -    
Interest/other income   17     24   -29.2 %     64     87   -26.4 %
Income taxes   -     -   N/M       15,000     -   N/M  
                       
NET INCOME $ 172,555   $ 132,073   30.7 %   $ 450,935   $ 320,801   40.6 %
                       
Earnings per share - basic and diluted $ 0.02   $ 0.02   N/M     $ 0.06   $ 0.04   N/M  
Average number of shares outstanding   7,263,508     7,263,508         7,263,508     7,263,508    

SOURCE BAB, Inc.

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