BAB, Inc. Reports Year-ended 11/30/24 Results

Rhea-AI Summary

BAB, Inc. (OTCQB: BABB) reported financial results for fiscal year 2024, showing improved performance across key metrics. Net income increased to $525,000 ($0.07 per share) from $467,000 ($0.06 per share) in 2023. Total revenues grew to $3,545,000, up from $3,510,000 in the previous year.

Income from operations rose to $665,000, an 8.1% increase from 2023's $615,000. Total operating expenses decreased to $2,880,000 from $2,895,000, primarily due to reduced Marketing Fund expenses ($67,000), occupancy costs ($13,000), and advertising expenses ($10,000). These savings were partially offset by increases in payroll expenses ($48,000) and professional service fees ($19,000).

The company, which franchises Big Apple Bagels®, My Favorite Muffin®, SweetDuet® and Brewster's® Coffee, saw significant growth in franchise and area development fee revenue (106.2%) and licensing fees (8.1%).

Positive

• Net income increased 12.4% to $525,000
• Earnings per share improved from $0.06 to $0.07
• Operating income grew 8.1% to $665,000
• Total operating expenses decreased by $15,000
• Franchise and area development fee revenue increased 106.2%
• Licensing fees grew 8.1%

Negative

• Marketing Fund revenue declined 5.4%
• Selling, general and administrative expenses increased 3.1%
• Tax provision increased 12.7% to $206,200

DEERFIELD, Ill., Feb. 18, 2025 (GLOBE NEWSWIRE) -- BAB, Inc. (OTCQB: BABB) announced its financial results for its fiscal year-ended November 30, 2024, reporting net income of $525,000, or $0.07 per share. For the year-ended November 30, 2024, BAB, Inc. had revenues of $3,545,000 and net income of $525,000, or $0.07 per share, versus revenues of $3,510,000 and net income of $467,000, or $0.06 per share, for the same period ending November 30, 2023.

Income from operations for fiscal 2024 is $665,000 compared to $615,000 in 2023. The increase in income before interest, other and taxes in fiscal 2024 was $50,000, or 8.1%. The tax provision expense was $206,000 for the year ended November 30, 2024 compared to $183,000 for the year ended November 30, 2023. The tax expense was $23,000 higher in 2024 compared to 2023, primarily because of higher income from operations and higher interest income in 2024.

Total operating expenses for the year ended November 30, 2024, were $2,880,000 versus $2,895,000 for the year ended November 30, 2023. Expenses decreased $15,000 in 2024 primarily due to a $67,000 decrease in Marketing Fund expenses $13,000 in occupancy expense, and $10,000 in advertising and promotion, offset by an increase of $48,000 in payroll and payroll related expenses, $19,000 in professional service fees, and $8,000 in other expenses in 2024 versus 2023.

BAB, Inc. franchises and licenses Big Apple Bagels®, My Favorite Muffin®, SweetDuet® and Brewster’s® Coffee. The Company’s stock is traded on the OTCQB under the symbol BABB and its web site can be visited at www.babcorp.com.

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

BAB, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
	Fiscal Year Ended
		2024				2023			% Change
REVENUES
Royalty fees from franchised stores	$	1,994,814			$	1,944,894			2.6	%
Franchise and area development fee revenue		55,673				26,999			106.2	%
Licensing fees and other income		317,992				294,062			8.1	%
Marketing Fund revenue		1,176,663				1,243,890			-5.4	%
Total Revenue		3,545,142				3,509,845			1.0	%
OPERATING COSTS AND EXPENSES
Selling, general and administrative		1,699,062				1,647,375			3.1	%
Depreciation and amortization		4,123				3,807			8.3	%
Marketing Fund expenses		1,176,663				1,243,890			-5.4	%
Total Operating Expense		2,879,848				2,895,072			-0.5	%
Income before interest, other and taxes		665,294				614,773			8.2	%
Interest income		66,106				35,548			86.0	%
Income before provision for income taxes		731,400				650,321			12.5	%
Current tax expense		(198,361	)			(155,407	)		27.6	%
Deferred tax expense		(7,839	)			(27,593	)		-71.6	%
Total Tax Provision		(206,200	)			(183,000	)		12.7	%
Net Income	$	525,200			$	467,321			12.4	%
Earnings per share - basic and diluted		0.07				0.06
Average number of shares outstanding		7,263,508				7,263,508

FAQ

What was BAB Inc's (BABB) net income for fiscal year 2024?

BAB Inc reported a net income of $525,000, or $0.07 per share, for fiscal year 2024.

How much did BABB's revenue grow in fiscal year 2024 compared to 2023?

BAB Inc's revenue grew by 1.0%, from $3,510,000 in 2023 to $3,545,000 in 2024.

What was the percentage increase in BABB's franchise and area development fee revenue for 2024?

BABB's franchise and area development fee revenue increased by 106.2% in fiscal year 2024.

How did BABB's operating expenses change in fiscal year 2024?

Total operating expenses decreased by $15,000, from $2,895,000 in 2023 to $2,880,000 in 2024.

What was BABB's earnings per share (EPS) for fiscal year 2024?

BABB's earnings per share for fiscal year 2024 was $0.07, up from $0.06 in 2023.