BAB, Inc. Reports Profit for Year-ended 11/30/15

By: Big Apple Bagels, Inc. (BAB) | 0 Shares 191 Reads

DEERFIELD, Ill. - January 29, 2016 - (BUSINESS WIRE) - 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.

About 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 t www.babcorp.com.

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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