BAB, Inc. Reports Loss for 1st Quarter FY 2013

By: Big Apple Bagels, Inc. (BAB) | 0 Shares 208 Reads

DEERFIELD, Ill. - (BUSINESS WIRE) - BAB, Inc. (OTCBB: BABB), announced its financial results for the first quarter ended February 28, 2013.

For the quarter ended February 28, 2013, BAB had revenues of $535,000 and a net loss of $65,000, or $0.009 per share, versus revenues of $567,000 and net income of $10,000, or $0.001 per share, for the quarter ended February 29, 2012.

Revenues of $535,000 for the quarter ended February 28, 2013 were down $32,000 from the prior year’s revenues of $567,000 for the same quarter.

Total operating expenses were $599,000 for the quarter ended February 28, 2013, versus $557,000 for the same period in 2012 due to increases in occupancy, payroll and advertising expenses.

BAB, Inc. operates, franchises, and licenses Big Apple Bagels ®, My Favorite Muffin ® SweetDuet Frozen Yogurt & Gourmet Muffins™ 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.

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

	02/28/13		02/29/12		% Change

REVENUES

Royalty fees from franchised stores	419,919		442,921		-5.2	%
Franchise and area development fee revenue	0		5,000		-100.0	%
Licensing fees and other income	115,160		119,571		-3.7	%
	535,079		567,492		-5.7	%

OPERATING COSTS AND EXPENSES

Selling, general and administrative	594,916		551,781		7.8	%
Depreciation and amortization	4,344		4,784		-9.2	%
	599,260		556,565		7.7	%

(Loss) / Income before interest, other and taxes	(64,181	)	10,927		-687.4	%

Interest expense	(1,482	)	(1,812	)	-18.2	%
Interest income	307		706		-56.5	%

Net (Loss) / Income	(65,356	)	9,821		-765.5	%

(Loss) / Earnings per share - basic	(0.009	)	0.001		N/M
Average number of shares outstanding	7,263,508		7,263,508		N/M

(Loss) / Earnings per share - diluted	(0.009	)	0.001		N/M
Average number of shares outstanding	7,265,701		7,265,265		N/M