BAB, Inc. (OTCBB: BABB), announced its financial results for the first quarter ended February 28, 2014.
For the quarter ended February 28, 2014, BAB had revenues of $537,000 and net income of $31,000, or $0.004 per share, versus revenues of $535,000 and a net loss of $65,000, or $0.009 per share, for the quarter ended February 28, 2013.
Total operating expenses were $505,000 for the quarter ended February 28, 2014, versus $599,000 for the same period in 2013 due primarily to decreases in payroll and payroll related expenses.
BAB, Inc. franchises and licenses Big Apple Bagels®, My Favorite Muffin®, SweetDuet Frozen Yogurt & Gourmet Muffins® and Brewster’s® Coffee. The Company’s stock is traded on the OTCBB under the symbol BABB and its web site 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 | ||||||||
| QUARTER ENDED | ||||||||
| 02/28/14 | 02/28/13 | % Change | ||||||
| REVENUES | ||||||||
| Royalty fees from franchised stores | 396,706 | 419,919 | -5.5 | % | ||||
| Franchise and area development fee revenue | 35,000 | 0 | N/M | |||||
| Licensing fees and other income | 105,165 | 115,160 | -8.7 | % | ||||
| 536,871 | 535,079 | 0.3 | % | |||||
| OPERATING COSTS AND EXPENSES | ||||||||
| Selling, general and administrative | 500,085 | 594,916 | -15.9 | % | ||||
| Depreciation and amortization | 4,561 | 4,344 | 5.0 | % | ||||
| 504,646 | 599,260 | -15.8 | % | |||||
| Income/(Loss) before interest, other and taxes | 32,225 | (64,181 | ) | -150.2 | % | |||
| Interest expense | (1,137 | ) | (1,482 | ) | -23.3 | % | ||
| Interest income | 148 | 307 | -51.8 | % | ||||
| Net Income/(Loss) | 31,236 | (65,356 | ) | -147.8 | % | |||
| Earnings/(Loss) per share - basic | 0.004 | (0.009 | ) | N/M | ||||
| Average number of shares outstanding | 7,263,508 | 7,263,508 | N/M | |||||
| Earnings/(Loss) per share - diluted | 0.004 | (0.009 | ) | N/M | ||||
| Average number of shares outstanding | 7,266,245 | 7,265,265 | N/M | |||||
Contacts:
Michael K. Murtaugh (847) 948-7520
Fax: (847)
405-8140
www.babcorp.com
