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.

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 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