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For the quarter ended February 28, 2011, BAB had revenues of $720,000 and net income of $35,000, or $0.005 per share, versus revenues of $648,000 and net income of $21,000, or $0.003 per share, for the quarter ended February 28, 2010. Total operating expenses were $684,000 for the quarter ended February 28, 2011, versus $626,000 for the same period in 2010.
BAB, Inc. operates, franchises, and licenses Big Apple Bagels ®, My Favorite Muffin ® Jacobs Bros. Bagels ® and Brewster’s ® Coffee. The Company’s stock is traded on the OTCBB under the symbol BABB and its website.
BAB, INC. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS QUARTER ENDED 02/28/11 02/28/10 % Change
REVENUES
Royalty fees from franchised stores 399,220 407,615 -2.1 %
Net sales by company-owned stores 93,733 104,730 -10.5 %
Franchise and area development fee revenue 84,300 25,000 237.2 %
Licensing fees and other income 142,359 110,236 29.1 % 719,612 647,581 11.1 %
OPERATING COSTS AND EXPENSES
Food, beverage and paper costs 32,862 29,742 10.5 %
Store payroll and other operating expenses 67,246 83,812 -19.8 %
Selling, general and administrative 576,189 506,324 13.8 %
Depreciation and amortization 7,423 6,101 21.7 % 683,720 625,979 9.2 %
Income / (loss) before interest, other and taxes 35,892 21,602 66.2 %
Interest expense (2,127 ) (2,427 ) -12.4 %
Interest income 1,090 1,579 -31.0 %
Net Income / (Loss) 34,855 20,754 67.9 %
Earnings per share - basic 0.005 0.003 N/M
Average number of shares outstanding 7,263, 508 7,263, 508 N/M
Earnings per share - diluted 0.005 0.003 N/M
Average number of shares outstanding 7,264, 561 7,263, 508 N/M.
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