BAB, Inc. Reports Profit for 3rd Quarter FY 2017

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| Source: BAB, Inc.

DEERFIELD, Ill., Oct. 05, 2017 (GLOBE NEWSWIRE) -- BAB, Inc. (OTCQB:BABB), announced its financial results for the third quarter ended August 31, 2017.

For the quarter ended August 31, 2017, BAB had revenues of $564,000 and net income of $132,000, or $0.02 per share, versus revenues of $616,000 and net income of $165,000, or $0.02 per share, for the same quarter last year. 

For the nine months ended August 31, 2017, BAB had revenues of $1,664,000 and net income of $321,000, or $0.04 per share, versus revenues of $1,761,000 and net income of $386,000, or $0.05 per share for the same period in 2016. 

Total operating expenses for the quarter ended August 31, 2017, were $432,000, versus $451,000, in 2016.  Total operating expenses for the nine months ended August 31, 2017 were $1,344,000 versus $1,375,000 for the nine months ended August 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.

Contact:

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

BAB, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
             
                 
  Quarter Ended Nine Months Ended
  08/31/17 08/31/16 % Change 08/31/17 08/31/16 % Change
        
REVENUES       
        
Royalty fees from franchised stores $446,778 $441,949  1.1% $1,295,021 $1,298,562  -0.3%
Franchise and area development fee revenue  10,000  60,000  -83.3%  50,000  78,000  -35.9%
Licensing fees and other income  107,049  114,181  -6.2%  319,404  384,885  -17.0%
Total Revenue  563,827  616,130  -8.5%  1,664,425  1,761,447  -5.5%
             
OPERATING COSTS AND EXPENSES            
             
Selling, general and administrative  431,161  445,412  -3.2%  1,332,716  1,359,475  -2.0%
Depreciation and amortization  617  5,167  -88.1%  10,995  15,183  -27.6%
Total Expense  431,778  450,579  -4.2%  1,343,711  1,374,658  -2.3%
             
Income from operations  132,049  165,551  -20.2%  320,714  386,789  -17.1%
Interest expense    -  (396) -100.0%    -  (1,190) -100.0%
Interest/other income  24  90  -73.3%  87  423  -79.4%
Income taxes    -    -  N/M    -    -  N/M
             
NET INCOME $132,073  $165,245   -20.1% $320,801  $386,022   -16.9%
             
Earnings per share - basic and diluted $0.02 $0.02  N/M $0.04 $0.05  N/M
Average number of shares outstanding  7,263,508  7,263,508     7,263,508  7,263,508