Fri, Jul 12, 2:03 PM (57 days ago)
BAB, Inc. reported a net income of $146,000 for Q2 2024, up from $127,000 in Q2 2023. Total revenue increased by 2.2% to $883,000, driven by a 3.6% rise in royalty fees to $513,000. Franchise fee revenue also saw a 28.6% increase to $9,000. However, licensing fees and other income fell by 28.9% to $54,000. Marketing fund revenue rose by 7.0% to $307,000. Operating expenses remained nearly flat, rising by just 0.4% to $696,000. The provision for income tax increased to $57,500 from $50,000. For the six months ended May 31, 2024, net income was $244,000, up from $162,000 in the same period in 2023. Total revenue for the six months was $1,719,000, a 6.8% increase. The company maintained a strong liquidity position with working capital of $1,618,000 and unrestricted cash of $1,938,000. The company declared a $0.01 quarterly cash distribution for Q3 2024.