113 0 Kommentare 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, 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.

(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