USA: BAB Holdings, Inc. Reports 3rd Quarter Results
BAB Holdings, Inc. (Nasdaq:INCU), the Chicago based operator of Big Apple Bagels®, My Favorite Muffin®, and Brewster's® Coffee today announced the financial results for its third quarter ended August 27, 2000 reporting net income of $.01 per share, compared to a $.15 per share loss for the year ago period. For the nine months ended August 27, 2000, the Company reported a net loss of $.07 per share, compared to a $.37 per share loss in the year ago period. Net Income was $22,896 for the third quarter of 2000 compared to a loss of $208,671for the third quarter of 1999. For the nine months ended August 27, 2000, net loss was $151,064 compared to a net loss of $524,023 in 1999. During the third quarter, continued progress was made on the company's plan to sell previously identified Company-owned stores to franchisees. In addition, the Company has reduced its debt by $479,000 since the beginning of the year and has cut its selling, general & administrative expenses by 13% from the previous year. The Company has scheduled a special meeting of shareholders on October 18, 2000 to vote on the proposed merger with Planet Zanett Corporate Incubator, Inc. In conjunction with the merger, the Company is planning to spin off the restaurant operations to the current shareholders of BAB Holdings, Inc. BAB Holdings, Inc. operates, franchises, and licenses Big Apple Bagels®, My Favorite Muffin®, and Brewster's® Coffee. It currently has units in 28 states, two Canadian provinces, Peru and Egypt and has master franchise agreements for South Korea and the United Arab Emirates. The Company owns Jacobs Bros. Bagels, a Chicago based bagel bakery chain and has licensing agreements with Host Marriott, Mrs. Fields Cookies, Beatrice Group, Inc., a division of ConAgra and Alonti Deli. The Company's stock is traded on the Nasdaq Small-Cap market under the symbol "INCU" and its web site can be visited at
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