BAB, Inc. Reports Results for 1st Quarter FY 2020
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BAB, Inc. Reports Results for 1st Quarter FY 2020

DEERFIELD, Ill., April 09, 2020 // GLOBE NEWSWIRE // - BAB, Inc. (OTCQB: BABB), announced its financial results for the first quarter ended February 29, 2020.

For the quarter ended February 29, 2020, BAB had revenues of $696,000 and net income of $43,000, or earnings of $0.01 per share, versus revenues of $712,000 and net income of $97,000, or earnings of $0.01 per share for the quarter ended February 28, 2019.

Total operating expenses were $638,000 for the quarter ended February 29, 2020 versus $611,000 for February 28, 2019. For February 29, 2020 there was a $15,000 income tax expense recorded compared to $5,000 for February 28, 2019.

Due to the impact of the Coronavirus Pandemic, the Company’s intent is to suspend future dividends. Future cash distributions/dividends will be considered after reviewing profitability expectations and financing needs and will be declared at the discretion of the Board of Directors. The Company will continue to analyze its ability to pay cash distributions/dividends on a quarterly basis.

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
www.babcorp.com

(TABLE FOLLOWS)

BAB, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
           
           
  Fiscal Quarter Ended
           
  02/29/20   02/28/19   % Change
REVENUES          
           
Royalty fees from franchised stores $ 387,339     $ 373,118     3.8 %
Franchise fees   3,650       13,413     -72.8 %
Licensing fees and other income   77,174       96,981     -20.4 %
Marketing fund revenue   227,521       228,788     -0.6 %
Total Revenue   695,684       712,300     -2.3 %
           
OPERATING COSTS AND EXPENSES          
           
Selling, general and administrative   636,854       610,301     4.4 %
Depreciation and amortization   740       399     85.5 %
Total Operating Expense   637,594       610,700     4.4 %
           
Income before interest, other and taxes   58,090       101,600     -42.8 %
           
Interest and other income   104       260     -60.0 %
           
Income tax expense   (15,000 )     (5,000 )   200.0 %
           
Net Income $ 43,194     $ 96,860     -55.4 %
           
Earnings per share - basic and diluted $ 0.01     $ 0.01      
Average number of shares outstanding   7,263,508       7,263,508      
           


SOURCE BAB, Inc.

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