BAB, Inc. Reports Profit for Year-ended 11/30/15
January 29, 2016 01:54 PM Eastern Standard Time
DEERFIELD, Ill.--(BUSINESS WIRE)--BAB, Inc. (OTCQB: BABB) announced its financial results for its fiscal year ended November 30, 2015, reporting net income of $110,000, or $0.02 per share.
For the year-ended November 30, 2015, BAB, Inc. had revenues of $2,216,000 and net income of $110,000, or
$0.02 per share, versus revenues of $2,535,000 and net income of $512,000, or $0.07 per share, for the same period in 2014. The Company received a $200,000 International Master Franchise Agreement in 2014 versus no such agreement in the same period in 2015.
Total operating expenses for the year ended November 30, 2015, were $2,113,000 versus $1,997,000 for the year ended November 30, 2014. The operating expenses for 2015 included $243,000 for the settlement of a lawsuit against BAB Operations, Inc., a wholly owned subsidiary of BAB, Inc.
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 web site can be visited at www.babcorp.com.
(TABLE FOLLOWS)
BAB, INC. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS2015 | 2014 | % Change | |
REVENUES | |||
Royalty fees from franchised stores | $ 1,714,881 | $1,746,991 | -1.8% |
Franchise and area development fee revenue | 85,000 | 277,500 | -69.4% |
Licensing fees and other income | 415,899 | 510,099 | -18.5% |
Total Revenue | 2,215,780 | 2,534,590 | -12.6% |
OPERATING COSTS AND EXPENSES | |||
Selling, general and administrative | 2,095,628 | 1,978,609 | 5.9% |
Depreciation and amortization | 17,145 | 17,983 | -4.7% |
Total Operating Expense | 2,112,773 | 1,996,592 | 5.8% |
Income before interest, other and taxes | 103,007 | 537,998 | -80.9% |
Interest expense | (2,850) | (4,308) | -33.8% |
Interest and other income | 1,705 | 673 | 153.3% |
Current tax (benefit)/expense | (8,500) | 22,417 | -137.9% |
Net Income | $ 110,362 | $ 511,946 | -78.4% |
Earnings per share - basic and diluted | 0.02 | 0.07 | |
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 |
BAB Inc. issued this content on 29 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 January 2016 15:51:11 UTC
Original Document: http://www.babcorp.com/pdf/press/2016-01-29.pdf
