BAB, Inc. Reports Profit for 1st Quarter FY 2011
DEERFIELD, ILL.--(BUSINESS WIRE)-- BAB, Inc. (OTC BB:BABB.ob - News), announced its financial results for the first quarter ended February 28, 2011.
For the quarter ended February 28, 2011, BAB had revenues of $720,000 and net income of $35,000, or $0.005 per share, versus revenues of $648,000 and net income of $21,000, or $0.003 per share, for the quarter ended February 28, 2010.
Total operating expenses were $684,000 for the quarter ended February 28, 2011, versus $626,000 for the same period in 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.
(TABLE FOLLOWS)
BAB, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
QUARTER ENDED
02/28/11 02/28/10 % Change
REVENUES
Royalty fees from franchised stores 399,220 407,615 -2.1 %
Net sales by company-owned stores 93,733 104,730 -10.5 %
Franchise and area development fee revenue 84,300 25,000 237.2 %
Licensing fees and other income 142,359 110,236 29.1 %
719,612 647,581 11.1 %
OPERATING COSTS AND EXPENSES
Food, beverage and paper costs 32,862 29,742 10.5 %
Store payroll and other operating expenses 67,246 83,812 -19.8 %
Selling, general and administrative 576,189 506,324 13.8 %
Depreciation and amortization 7,423 6,101 21.7 %
683,720 625,979 9.2 %
Income / (loss) before interest, other and taxes 35,892 21,602 66.2 %
Interest expense (2,127 ) (2,427 ) -12.4 %
Interest income 1,090 1,579 -31.0 %
Net Income / (Loss) 34,855 20,754 67.9 %
Earnings per share - basic 0.005 0.003 N/M
Average number of shares outstanding 7,263,508 7,263,508 N/M
Earnings per share - diluted 0.005 0.003 N/M
Average number of shares outstanding 7,264,561 7,263,508 N/M
Contact:
BAB, Inc.
Michael K. Murtaugh (847) 948-7520
Fax: (847) 405-8140
www.babcorp.com
