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

Rhea-AI Summary

BAB, Inc. (BABB) reported positive financial results for Q1 2024 with increased revenues and net income compared to the same period last year. Operating expenses and Marketing Fund expenses also saw an uptick. The company franchises popular brands like Big Apple Bagels, My Favorite Muffin, SweetDuet frozen yogurt, and Brewster's Coffee.

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

Contact:        

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

What were BAB, Inc.'s revenues for Q1 2024?

BAB, Inc. reported revenues of $836,000 for the first quarter ended February 29, 2024.

What was BAB, Inc.'s net income for Q1 2024?

BAB, Inc. had a net income of $99,000, or $0.01 per share, for the quarter ended February 29, 2024.

What are the brands BAB, Inc. franchises and licenses?

BAB, Inc. franchises and licenses Big Apple Bagels, My Favorite Muffin, SweetDuet frozen yogurt, and Brewster's Coffee.

Where is BAB, Inc.'s stock traded and what is its symbol?

BAB, Inc.'s stock is traded on the OTCQB under the symbol BABB.

What was the increase in Marketing Fund expenses for BAB, Inc. in Q1 2024?

In the first quarter of 2024, Marketing Fund expenses increased by $21,000 compared to the same quarter in 2023.