DEERFIELD, Ill.--(BUSINESS WIRE)--BAB, Inc. (OTCQB: BABB) announced its financial results for its fiscal year ended November 30, 2016, reporting net income of $449,000, or $0.06 per share.
For the year-ended November 30, 2016, BAB, Inc. had revenues of $2,386,000 and net income of $449,000, or $0.06 per share, versus revenues of $2,216,000 and net income of $110,000, or $0.02 per share, for the same period in 2015.
Total operating expenses for the year ended November 30, 2016, were $1,926,000 versus $2,113,000 for the year ended November 30, 2015. 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® 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 | ||||||||||
| 2016 | 2015 | % Change | ||||||||
| REVENUES | ||||||||||
| Royalty fees from franchised stores | $ | 1,744,640 | $ | 1,714,881 | 1.7 | % | ||||
| Franchise and area development fee revenue | 113,000 | 85,000 | 32.9 | % | ||||||
| Licensing fees and other income | 528,527 | 415,899 | 27.1 | % | ||||||
| Total Revenue | 2,386,167 | 2,215,780 | 7.7 | % | ||||||
| OPERATING COSTS AND EXPENSES | ||||||||||
| Selling, general and administrative | 1,906,294 | 2,095,628 | -9.0 | % | ||||||
| Depreciation and amortization | 20,152 | 17,145 | 17.5 | % | ||||||
| Total Operating Expense | 1,926,446 | 2,112,773 | -8.8 | % | ||||||
| Income before interest, other and taxes | 459,721 | 103,007 | 346.3 | % | ||||||
| Interest expense | (1,323 | ) | (2,850 | ) | -53.6 | % | ||||
| Interest and other income | 502 | 1,705 | -70.6 | % | ||||||
| Current tax expense/(benefit) | 9,500 | (8,500 | ) | -211.8 | % | |||||
| Net Income | $ | 449,400 | $ | 110,362 | 307.2 | % | ||||
| Earnings per share - basic and diluted | 0.06 | 0.02 | ||||||||
| Average number of shares outstanding | 7,263,508 | 7,263,508 | ||||||||