BAB, Inc. Reports Results for 1st Quarter FY 2017
DEERFIELD, Ill.–(BUSINESS WIRE)–BAB, Inc. (OTCQB: BABB), announced its financial results for the
first quarter ended February 28, 2017.
For the quarter ended February 28, 2017, BAB had revenues of $493,000
and net income of $53,000, or earnings of $0.01 per share, versus
revenues of $581,000 and net income of $89,000, or earnings of $0.01 per
share for the quarter ended February 29, 2016.
Total operating expenses were $440,000 for the quarter ended February
28, 2017, versus $492,000 for February 29, 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 STATEMENT OF OPERATIONS | ||||||||||
| Fiscal Quarter Ended | ||||||||||
| 02/28/17 | 02/29/16 | % Change | ||||||||
| REVENUES | ||||||||||
| Royalty fees from franchised stores | $ | 400,261 | $ | 406,900 | -1.6 | % | ||||
| Franchise and area development fee revenue | – | 15,000 | -100.0 | % | ||||||
| Licensing fees and other income | 92,460 | 158,977 | -41.8 | % | ||||||
| Total Revenue | 492,721 | 580,877 | -15.2 | % | ||||||
| OPERATING COSTS AND EXPENSES | ||||||||||
| Selling, general and administrative | 434,829 | 486,692 | -10.7 | % | ||||||
| Depreciation and amortization | 5,208 | 4,849 | 7.4 | % | ||||||
| Total Operating Expense | 440,037 | 491,541 | -10.5 | % | ||||||
| Income before interest, other and taxes | 52,684 | 89,336 | -41.0 | % | ||||||
| Interest expense | – | (397 | ) | -100.0 | % | |||||
| Interest and other income | 32 | 186 | -82.8 | % | ||||||
| Net Income | $ | 52,716 | $ | 89,125 | -40.9 | % | ||||
| Earnings per share – basic and diluted | $ | 0.01 | $ | 0.01 | ||||||
| Average number of shares outstanding | 7,263,508 | 7,263,508 | ||||||||
Contacts
BAB, Inc.
Michael K. Murtaugh (847) 948-7520
Fax: (847)
405-8140
www.babcorp.com
