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 $243,000 for the settlement of a lawsuit against BAB Operations, Inc., a wholly owned subsidiary of BAB, Inc.
BAB, Inc. franchises and licenses Big Apple Bagels®, My Favorite Muffin®, SweetDuet® and Brewster’s® Coffee. The Company’s stock is traded on the OTCQB under the symbol BABB and its web site can be visited at www.babcorp.com.
|CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS|
|Fiscal Year Ended|
|Royalty fees from franchised stores||$||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||%|
|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 and other income||502||1,705||-70.6||%|
|Current tax expense/(benefit)||9,500||(8,500||)||-211.8||%|
|Earnings per share - basic and diluted||0.06||0.02|
|Average number of shares outstanding||7,263,508||7,263,508|