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BAB, Inc. (BABB: OTCQB) | BAB, Inc. Reports Profit for Year-ended 11/30/16











Feb 03, 2017
OTC Disclosure & News Service

BAB, Inc. (OTCQB: BABB) announced its financial results for itsfiscal 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, versusrevenues 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. Theoperating expenses for 2015 included $243,000 for the settlement of alawsuit against BAB Operations, Inc., a wholly owned subsidiary of BAB,Inc.

BAB, Inc. franchises and licenses Big Apple Bagels®, My FavoriteMuffin®, SweetDuet® and Brewster’s® Coffee. The Company’s stock istraded on the OTCQB under the symbol BABB and its web site can bevisited 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

 

View source version on businesswire.com: http://www.businesswire.com/news/home/20170203005588/en/
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The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.















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