Press Release: BAB, Inc. Reports Results for 1st Quarter FY 2024

BAB, Inc. Reports Results for 1st Quarter FY 2024

DEERFIELD, Ill., April 05, 2024 (GLOBE NEWSWIRE) -- BAB, Inc. (OTCQB: BABB), announced its financial results for the first quarter ended February 29, 2024.

For the quarter ended February 29, 2024, BAB had revenues of $836,000 and net income of $99,000, or $0.01 per share, versus revenues $746,000 and net income of $35,000, or earnings of $0.00 per share, for the same quarter last year.

Total operating expenses for the quarter ended February 29, 2024, were $714,000, versus $696,000, in same period 2023. In the first quarter of 2024, Marketing Fund expenses increased $21,000 compared to the same quarter in 2023.

BAB, Inc. franchises and licenses Big Apple Bagels$(R)$, My Favorite Muffin(R), SweetDuet(R) frozen yogurt and Brewster's(R) 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.

(TABLE FOLLOWS)

 
BAB, INC. 
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS 
 
 
                                    Fiscal Quarter Ended 
 
                             02/29/24     02/28/23     % Change 
                            -----------  -----------  ---------- 
REVENUES 
 
Royalty fees from 
 franchised stores          $  459,690   $  442,608      3.9% 
Franchise fees                  10,246        4,347    135.7% 
Licensing fees and other 
 income                        106,587       60,320     76.7% 
Marketing fund revenue         259,411      238,318      8.9% 
                             ---------    --------- 
Total Revenue                  835,934      745,593     12.1% 
 
OPERATING COSTS AND 
EXPENSES 
 
Selling, general and 
 administrative                712,974      695,271      2.5% 
Depreciation and 
 amortization                      980          923      6.2% 
Total Operating Expense        713,954      696,194      2.6% 
 
Income before interest, 
 other and taxes               121,980       49,399    146.9% 
                             ---------    --------- 
 
Interest income                 15,525          121      NM* 
Income tax expense             (39,000)     (14,200)   174.6% 
Net Income                  $   98,505   $   35,320    178.9% 
                             =========    ========= 
 
Earnings per share - basic 
 and diluted                $     0.01   $     0.00 
Average number of shares 
 outstanding                 7,263,508    7,263,508 
 
* comparison not 
 meaningful 
 
 

Contact:

BAB, Inc.

Michael K. Murtaugh (847) 948-7520

Fax: (847) 405-8140

www.babcorp.com

(END) Dow Jones Newswires

April 05, 2024 11:51 ET (15:51 GMT)