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BAB, Inc. Reports Profit for Year-ended 11/30/12

2013-01-29

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BAB, Inc. (OTCBB: BABB), announced its financial results for its fiscal year-ended November 30, 2012, reporting net income of $419,000, or $0.06 per share.

For the year ended November 30, 2012, BAB had revenues of $2,675,000 and net income of $419,000, or $0.06 per share, versus revenues of $3,023,000 and net income of $394,000, or $0.05 per share for the same period in 2011. The Company sold the company-owned store effective November 30, 2011, and thus the Company had no company-owned store revenues or expenses in the year ended November 30, 2012.

Total operating expenses for the year ended November 30, 2012, were $2,236,000 versus $2,620,000 for year ended November 30, 2011.

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.

BAB, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS


	Fiscal Year Ended

	2012		2011		% Change
REVENUES

Royalty fees from franchised stores	1,859,064		1,760,240		5.6	%
Franchise and area development fee revenue	102,500		281,200		-63.5	%
Net sales by company-owned stores	0		403,006		-100.0	%
Licensing fees and other income	713,258		578,830		23.2	%
	2,674,822		3,023,276		-11.5	%

OPERATING COSTS AND EXPENSES

Food, beverage and paper costs	0		137,676		-100.0	%
Store payroll and other operating expenses	0		259,472		-100.0	%
Selling, general and administrative	2,217,332		2,196,083		1.0	%
Depreciation and amortization	18,924		26,389		-28.3	%
Total operating costs and expenses	2,236,256		2,619,620		-14.6	%

Income before interest and other	438,566		403,656		8.6	%

Interest expense	(7,028	)	(8,296	)	-15.3	%
Interest and other income	2,542		3,703		-31.4	%


Income before provision for income taxes	434,080		399,063		N/M

Income tax provision	(15,000	)	(5,000	)	N/M

Net Income	419,080		394,063		N/M

Earnings per share - basic	0.06		0.05		N/M
Average number of shares outstanding	7,263,508		7,263,508		N/M

Earnings per share - diluted	0.06		0.05		N/M
Average number of shares outstanding	7,265,860		7,265,265		N/M