BAB, Inc. Reports Profit for 2nd Quarter FY 2018

DEERFIELD, Ill., July 05, 2018 (GLOBE NEWSWIRE) -- BAB, Inc. (OTCQB:BABB), announced its financial results for the second quarter ended May 31, 2018.

For the quarter ended May 31, 2018, BAB had revenues of $560,000 and net income of $178,000, or $0.02 per share, versus revenues of $608,000 and net income of $136,000, or $0.02 per share, for the same quarter last year. 

For the six months ended May 31, 2018, BAB had revenues of $1,061,000 and net income of $278,000, or $0.04 per share, versus revenues of $1,101,000 and net income of $189,000, or $0.03 per share for the same period in 2017. 

Total operating expenses for the quarter ended May 31, 2018, were $383,000, versus $472,000, in 2017.  Total operating expenses for the six months ended May 31, 2018 were $768,000 versus $912,000 for the six months ended May 31, 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.

 
BAB, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                       
             
  Quarter Ended   Six Months Ended
  05/31/18   05/31/17   % Change   05/31/18   05/31/17   % Change
             
REVENUES            
             
Royalty fees from franchised stores $ 425,435   $ 447,982   -5.0 %   $ 810,486     $ 848,243   -4.5 %
Franchise and area development fee revenue   1,500     40,000   -96.3 %     1,500       40,000   -96.3 %
Licensing fees and other income   133,536     119,895   11.4 %     248,952       212,355   17.2 %
Total Revenue   560,471     607,877   -7.8 %     1,060,938       1,100,598   -3.6 %
                       
OPERATING COSTS AND EXPENSES                      
                       
Selling, general and administrative   382,656     466,726   -18.0 %     767,165       901,555   -14.9 %
Depreciation and amortization   288     5,170   -94.4 %     440       10,378   -95.8 %
Total Expense   382,944     471,896   -18.8 %     767,605       911,933   -15.8 %
                       
Income from operations   177,527     135,981   30.6 %     293,333       188,665   55.5 %
Interest expense     -       -     -         -         -     -  
Interest/other income   23     31   -25.8 %     47       63   -25.4 %
Income taxes     -       -   N/M         (15,000 )       -   N/M  
                       
NET INCOME $ 177,550   $ 136,012   30.5 %   $ 278,380     $ 188,728   47.5 %
                       
Earnings per share - basic and diluted $ 0.02   $ 0.02   N/M     $ 0.04     $ 0.03   N/M  
Average number of shares outstanding   7,263,508     7,263,508         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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