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BAB, Inc. Reports Profit for 3rd Quarter FY 2017

DEERFIELD, Ill., Oct. 05, 2017 (GLOBE NEWSWIRE) -- BAB, Inc. (OTCQB:BABB), announced its financial results for the third quarter ended August 31, 2017.

For the quarter ended August 31, 2017, BAB had revenues of $564,000 and net income of $132,000, or $0.02 per share, versus revenues of $616,000 and net income of $165,000, or $0.02 per share, for the same quarter last year.

For the nine months ended August 31, 2017, BAB had revenues of $1,664,000 and net income of $321,000, or $0.04 per share, versus revenues of $1,761,000 and net income of $386,000, or $0.05 per share for the same period in 2016.

Total operating expenses for the quarter ended August 31, 2017, were $432,000, versus $451,000, in 2016. Total operating expenses for the nine months ended August 31, 2017 were $1,344,000 versus $1,375,000 for the nine months ended August 31, 2016.

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.

Contact:

BAB, Inc.
Michael K. Murtaugh (847) 948-7520
Fax: (847) 405-8140
www.babcorp.com

BAB, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Quarter Ended Nine Months Ended
08/31/17 08/31/16 % Change 08/31/17 08/31/16 % Change
REVENUES
Royalty fees from franchised stores $446,778 $441,949 1.1% $1,295,021 $1,298,562 -0.3%
Franchise and area development fee revenue 10,000 60,000 -83.3% 50,000 78,000 -35.9%
Licensing fees and other income 107,049 114,181 -6.2% 319,404 384,885 -17.0%
Total Revenue 563,827 616,130 -8.5% 1,664,425 1,761,447 -5.5%
OPERATING COSTS AND EXPENSES
Selling, general and administrative 431,161 445,412 -3.2% 1,332,716 1,359,475 -2.0%
Depreciation and amortization 617 5,167 -88.1% 10,995 15,183 -27.6%
Total Expense 431,778 450,579 -4.2% 1,343,711 1,374,658 -2.3%
Income from operations 132,049 165,551 -20.2% 320,714 386,789 -17.1%
Interest expense - (396) -100.0% - (1,190) -100.0%
Interest/other income 24 90 -73.3% 87 423 -79.4%
Income taxes - - N/M - - N/M
NET INCOME $132,073 $165,245 -20.1% $320,801 $386,022 -16.9%
Earnings per share - basic and diluted $0.02 $0.02 N/M $0.04 $0.05 N/M
Average number of shares outstanding 7,263,508 7,263,508 7,263,508 7,263,508

Source:BAB, Inc.