BAB, Inc (OTCQB: BABB.OB) reported total revenues for its fiscal year ended November 30, 2011 increased 3.8% to $3.02 million compared to total revenues of $2.91 million during the prior fiscal year. Revenues during fiscal year 2011 primarily benefited from a 167.6% increase in franchise fees.
Net income for fiscal year 2011 slipped 3.8% to $394 thousand or $0.05 per share versus net income of $410 thousand or $0.06 per share for fiscal 2010. Net income during fiscal 2011 was negatively impacted by higher overall operating expenses during the year.
As of November 30, 2011, the balance sheet reflected cash/restricted cash of $1.56 million, current assets of $1.81 million, total assets of $4.09 million, current liabilities of $1.01 million and total liabilities of $1.13 million. During fiscal 2011, shareholders’ equity declined 7.8% to $2.96 million.
BAB, Inc. is engaged in operating, franchising and licensing of the bagel, muffin and coffees brands Big Apple Bagels®, My Favorite Muffin®, Jacobs Bros. Bagels®, and Brewster’s® Coffee.
Source: BAB, Inc.