DEERFIELD, ILL.--(BUSINESS WIRE)--BAB, Inc. (OTC BB: BABB), announced its financial results for the first quarter ended February 28, 2011.
For the quarter ended February 28, 2011, BAB had revenues of $720,000 and net income of $35,000, or $0.005 per share, versus revenues of $648,000 and net income of $21,000, or $0.003 per share, for the quarter ended February 28, 2010.
Total operating expenses were $684,000 for the quarter ended February 28, 2011, versus $626,000 for the same period in 2010.
BAB, Inc. operates, franchises, and licenses Big Apple Bagels ®, My Favorite Muffin ® Jacobs Bros. Bagels ® 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.
(TABLE FOLLOWS)
| BAB, INC. | |||||||||
| CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS | |||||||||
| QUARTER ENDED | |||||||||
| 02/28/11 | 02/28/10 | % Change | |||||||
| REVENUES | |||||||||
| Royalty fees from franchised stores | 399,220 | 407,615 | -2.1 | % | |||||
| Net sales by company-owned stores | 93,733 | 104,730 | -10.5 | % | |||||
| Franchise and area development fee revenue | 84,300 | 25,000 | 237.2 | % | |||||
| Licensing fees and other income | 142,359 | 110,236 | 29.1 | % | |||||
| 719,612 | 647,581 | 11.1 | % | ||||||
| OPERATING COSTS AND EXPENSES | |||||||||
| Food, beverage and paper costs | 32,862 | 29,742 | 10.5 | % | |||||
| Store payroll and other operating expenses | 67,246 | 83,812 | -19.8 | % | |||||
| Selling, general and administrative | 576,189 | 506,324 | 13.8 | % | |||||
| Depreciation and amortization | 7,423 | 6,101 | 21.7 | % | |||||
| 683,720 | 625,979 | 9.2 | % | ||||||
| Income / (loss) before interest, other and taxes | 35,892 | 21,602 | 66.2 | % | |||||
| Interest expense | (2,127 | ) | (2,427 | ) | -12.4 | % | |||
| Interest income | 1,090 | 1,579 | -31.0 | % | |||||
| Net Income / (Loss) | 34,855 | 20,754 | 67.9 | % | |||||
| Earnings per share - basic | 0.005 | 0.003 | N/M | ||||||
| Average number of shares outstanding | 7,263,508 | 7,263,508 | N/M | ||||||
| Earnings per share - diluted | 0.005 | 0.003 | N/M | ||||||
| Average number of shares outstanding | 7,264,561 | 7,263,508 | N/M | ||||||