BAB, Inc. : Reports Profit for Year-ended 11/30/11
January 24, 2012 at 11:20 am EST
By
Share
BAB, Inc. (OTCBB: BABB), announced its financial results for its
fiscal year-ended November 30, 2011, reporting net income of $394,000,
or $0.05 per share.
For the year ended November 30, 2011, BAB had revenues of $3,023,000 and
net income of $394,000, or $0.05 per share, versus revenues of
$2,914,000 and net income of $410,000, or $0.06 per share for the same
period in 2010.
Total operating expenses for the year ended November 30, 2011, were
$2,620,000 versus $2,502,000 for year ended November 30, 2010.
BAB, Inc. operates, franchises, and licenses Big Apple Bagels ®, My
Favorite Muffin ® Jacobs Bros. Bagels ® and Brewster's ® Coffee. The
Company's stock is traded on the OTCBB under the symbol BABB and its web
site 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 Year Ended
2011
2010
% Change
REVENUES
Royalty fees from franchised stores
1,760,240
1,737,361
1.3
%
Franchise and area development fee revenue
281,200
105,000
167.8
%
Net sales by company-owned stores
403,006
445,157
-9.5
%
Licensing fees and other income
578,830
626,223
-7.6
%
3,023,276
2,913,741
3.8
%
OPERATING COSTS AND EXPENSES
Food, beverage and paper costs
137,676
134,957
2.0
%
Store payroll and other operating expenses
259,472
285,436
-9.1
%
Selling, general and administrative
2,196,083
2,053,430
6.9
%
Depreciation and amortization
26,389
28,404
-7.1
%
2,619,620
2,502,227
4.7
%
Income before interest and other
403,656
411,514
-1.9
%
Interest expense
(8,296
)
(9,507
)
-12.7
%
Interest and other income
3,703
7,521
-50.8
%
Income tax provision
(5,000
)
-
N/M
Income (loss) before provision for income taxes
394,063
409,528
N/M
Deferred income tax benefit
-
-
N/M
Net Income (loss)
394,063
409,528
N/M
Earnings per share - basic
0.05
0.06
N/M
Average number of shares outstanding
7,263,508
7,263,508
N/M
Earnings per share - diluted
0.05
0.06
N/M
Average number of shares outstanding
7,264,965
7,263,508
N/M
BAB, Inc. Michael K. Murtaugh, (847) 948-7520 Fax: (847)
405-8140 www.babcorp.com
BAB, Inc. franchises and licenses bagel and muffin retail units under the BAB, MFM and SweetDuet (SD) trade names. The Company has approximately 63 franchise units and four licensed units in operation in 20 states. The BAB franchised brand consists of units operating as Big Apple Bagels, featuring daily baked bagels, flavored cream cheeses, premium coffees, gourmet bagel sandwiches and other related products. BAB units are concentrated in the Midwest and Western United States. The MFM brand consists of units operating as My Favorite Muffin Gourmet Muffin Bakery (MFM Bakery), featuring a variety of freshly baked muffins and coffees and units operating as My Favorite Muffin Your All Day Bakery Cafe, featuring these products and a variety of specialty bagel sandwiches and related products. The SweetDuet is a branded self-serve frozen yogurt that can be added as an additional brand in a BAB location. Its subsidiaries include BAB Systems, Inc., BAB Operations, Inc. and BAB Investments, Inc.