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BAB, Inc. Reports Results for 1st Quarter FY 2018

March 29, 2018 | About:

DEERFIELD, Ill., March 29, 2018 (GLOBE NEWSWIRE) -- BAB, Inc. (BABB), announced its financial results for the first quarter ended February 28, 2018.

For the quarter ended February 28, 2018, BAB had revenues of $500,000 and net income of $101,000, or earnings of $0.01 per share, versus revenues of $493,000 and net income of $53,000, or earnings of $0.01 per share for the quarter ended February 28, 2017.

Total operating expenses were $385,000 for the quarter ended February 28, 2018, versus $440,000 for February 28, 2017. For quarter ended February 28, 2018 a $15,000 current tax expense was recorded versus none in 2017.

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 website 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
Fiscal Quarter Ended
02/28/18 02/28/17 % Change
REVENUES
Royalty fees from franchised stores$385,051 $400,261 -3.8%
Licensing fees and other income 115,416 92,460 24.8%
Total Revenue 500,467 492,721 1.6%
OPERATING COSTS AND EXPENSES
Selling, general and administrative 384,509 434,829 -11.6%
Depreciation and amortization 152 5,208 -97.1%
Total Operating Expense 384,661 440,037 -12.6%
Income before interest, other and taxes 115,806 52,684 119.8%
Interest and other income 24 32 -25.0%
Current tax expense (15,000) - 100.0%
Net Income$100,830 $52,716 91.3%
Earnings per share - basic and diluted$0.01 $0.01
Average number of shares outstanding 7,263,508 7,263,508

Contact:

BAB, Inc.

Michael K. Murtaugh (847) 948-7520

Fax: (847) 405-8140

www.babcorp.com

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