DEERFIELD, Ill., Feb. 06, 2018 (GLOBE NEWSWIRE) -- BAB, Inc. (OTCQB:BABB) announced its financial results for its fiscal year ended November 30, 2017, reporting net income of $454,000, or $0.06 per share.
For the year-ended November 30, 2017, BAB, Inc. had revenues of $2,220,000 and net income of $454,000, or $0.06 per share, versus revenues of $2,386,000 and net income of $449,000, or $0.06 per share, for the same period in 2016.
Total operating expenses for the year ended November 30, 2017, were $1,761,000 versus $1,926,000 for the year ended November 30, 2016.
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 | |||||||||||
| 2017 | 2016 | % Change | |||||||||
| REVENUES | |||||||||||
| Royalty fees from franchised stores | $ | 1,726,976 | $ | 1,744,640 | -1.0% | ||||||
| Franchise and area development fee revenue | 50,000 | 113,000 | -55.8% | ||||||||
| Licensing fees and other income | 443,917 | 528,527 | -16.0% | ||||||||
| Total Revenue | 2,220,893 | 2,386,167 | -6.9% | ||||||||
| OPERATING COSTS AND EXPENSES | |||||||||||
| Selling, general and administrative | 1,749,791 | 1,906,294 | -8.2% | ||||||||
| Depreciation and amortization | 11,536 | 20,152 | -42.8% | ||||||||
| Total Operating Expense | 1,761,327 | 1,926,446 | -8.6% | ||||||||
| Income before interest, other and taxes | 459,566 | 459,721 | 0.0% | ||||||||
| Interest expense | - | (1,323 | ) | -100.0% | |||||||
| Interest and other income | 107 | 502 | -78.7% | ||||||||
| Current tax expense | (5,500 | ) | (9,500 | ) | -42.1% | ||||||
| Net Income | $ | 454,173 | $ | 449,400 | 1.1% | ||||||
| Earnings per share - basic and diluted | 0.06 | 0.06 | |||||||||
| Average number of shares outstanding | 7,263,508 | 7,263,508 | |||||||||
Contact:
BAB, Inc.
Michael K. Murtaugh (847) 948-7520
Fax: (847) 405-8140
www.babcorp.com