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 OPERATIONS | |||||||||||
| Fiscal Year Ended | |||||||||||
| 2015 | 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 | |||||||||
View source version on businesswire.com: http://www.businesswire.com/news/home/20160129005871/en/
Contacts:
Michael K. Murtaugh, (847) 948-7520
Fax: (847)
405-8140
www.babcorp.com
