BAB, Inc. (OTCQB: BABB), announced its financial results for the second quarter ended May 31, 2017.
For the quarter ended May 31, 2017, BAB had revenues of $608,000 and net income of $136,000, or $0.02 per share, versus revenues of $564,000 and net income of $132,000, or $0.02 per share, for the same quarter last year.
For the six months ended May 31, 2017, BAB had revenues of $1,101,000 and net income of $189,000, or $0.03 per share, versus revenues of $1,145,000 and net income of $221,000, or $0.03 per share for the same period in 2016.
Total operating expenses for the quarter ended May 31, 2017, were $472,000, versus $433,000, in 2016. Total operating expenses for the six months ended May 31, 2017 were $912,000 versus $924,000 for the six months ended May 31, 2016.
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.
| BAB, INC. | |||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||
| Quarter Ended | Six Months Ended | ||||||||||||||||
| 05/31/17 | 05/31/16 | % Change | 05/31/17 | 05/31/16 | % Change | ||||||||||||
| REVENUES | |||||||||||||||||
| Royalty fees from franchised stores | $447,982 | $449,713 | -0.4 | % | $848,243 | $856,613 | -1.0 | % | |||||||||
| Franchise and area development fee revenue | 40,000 | 3,000 | 1233.3 | % | 40,000 | 18,000 | 122.2 | % | |||||||||
| Licensing fees and other income | 119,895 | 111,727 | 7.3 | % | 212,355 | 270,704 | -21.6 | % | |||||||||
| Total Revenue | 607,877 | 564,440 | 7.7 | % | 1,100,598 | 1,145,317 | -3.9 | % | |||||||||
| OPERATING COSTS AND EXPENSES | |||||||||||||||||
| Selling, general and administrative | 466,726 | 427,371 | 9.2 | % | 901,555 | 914,063 | -1.4 | % | |||||||||
| Depreciation and amortization | 5,170 | 5,167 | 0.1 | % | 10,378 | 10,016 | 3.6 | % | |||||||||
| Total Expense | 471,896 | 432,538 | 9.1 | % | 911,933 | 924,079 | -1.3 | % | |||||||||
| Income from operations | 135,981 | 131,902 | 3.1 | % | 188,665 | 221,238 | -14.7 | % | |||||||||
| Interest expense | - | (397 | ) | -100.0 | % | - | (794 | ) | -100.0 | % | |||||||
| Interest/other income | 31 | 147 | -78.9 | % | 63 | 333 | -81.1 | % | |||||||||
| Income taxes | - | - | N/M | - | - | N/M | |||||||||||
| NET INCOME | $136,012 | $131,652 | 3.3 | % | $188,728 | $220,777 | -14.5 | % | |||||||||
| Earnings per share - basic and diluted | $0.02 | $0.02 | N/M | $0.03 | $0.03 | N/M | |||||||||||
| Average number of shares outstanding | 7,263,508 | 7,263,508 | 7,263,508 | 7,263,508 | |||||||||||||
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