DEERFIELD, Ill., Feb. 06, 2019 (GLOBE NEWSWIRE) -- BAB, Inc. (OTCQB: BABB) announced its financial results for its fiscal year ended November 30, 2018, reporting net income of $508,000, or $0.07 per share.
For the year-ended November 30, 2018, BAB, Inc. had revenues of $2,173,000 and net income of $508,000, or $0.07 per share, versus revenues of $2,221,000 and net income of $454,000, or $0.06 per share, for the same period in 2017.
Total operating expenses for the year ended November 30, 2018, were $1,636,000 versus $1,761,000 for the year ended November 30, 2017.
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 .
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Contact:
BAB, Inc. Michael K. Murtaugh (847) 948-7520 Fax: (847) 405-8140 www.babcorp.com
| BAB, INC. | |||||||||||
| CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS | |||||||||||
| Fiscal Year Ended | |||||||||||
| 2018 | 2017 | % Change | |||||||||
| REVENUES | |||||||||||
| Royalty fees from franchised stores | $ | 1,665,016 | $ | 1,726,976 | -3.6 | % | |||||
| Franchise and area development fee revenue | 34,500 | 50,000 | -31.0 | % | |||||||
| Licensing fees and other income | 473,815 | 443,917 | 6.7 | % | |||||||
| Total Revenue | 2,173,331 | 2,220,893 | -2.1 | % | |||||||
| OPERATING COSTS AND EXPENSES | |||||||||||
| Selling, general and administrative | 1,634,405 | 1,749,791 | -6.6 | % | |||||||
| Depreciation and amortization | 1,210 | 11,536 | -89.5 | % | |||||||
| Total Operating Expense | 1,635,615 | 1,761,327 | -7.1 | % | |||||||
| Income before interest, other and taxes | 537,716 | 459,566 | 17.0 | % | |||||||
| Interest and other income | 159 | 107 | 48.6 | % | |||||||
| Current tax expense | (30,000 | ) | (5,500 | ) | 445.5 | % | |||||
| Net Income | $ | 507,875 | $ | 454,173 | 11.8 | % | |||||
| Earnings per share - basic and diluted | 0.07 | 0.06 | |||||||||
| Average number of shares outstanding | 7,263,508 | 7,263,508 | |||||||||
