Bassett Furniture Industries Turns To Profit In Q2; Stock Up

Bassett Furniture Industries

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(RTTNews) - Bassett Furniture Industries Inc. (BSET) reported that its net income for its second quarter ended May 31, 2025 was $1.92 million or $0.22 per share compared to a loss of $7.20 million or $0.82 per share in the same quarter last year.

Analysts expected the company to report earnings of $0.13 per share for the second quarter. Analysts' estimates typically exclude special items.

BSET closed Wednesday's regular trading at $16.99 up $0.77 or 4.75%. In the after-hours, trading the stock further gained $1.25 or 7.36%.

Operating income for the quarter was $2.5 million compared to a loss of $8.5 million for the prior year quarter which included $5.5 million of asset impairment charges and $2.7 million of additional inventory valuation charges.

"Our rigorous attention to increased operating efficiency, product launches, expanded e-commerce capabilities and more customized marketing helped us weather this tepid home furnishings market. We believe these advantages and our strong US manufacturing base position Bassett well to serve both wholesale and retail markets for the second half of fiscal 2025." said Robert Spilman, Jr., Bassett Chairman and Chief Executive Officer.

Net sales of furniture and accessories for the second quarter increased to $84.35 million from $83.41 million last year. Analysts had consensus revenue estimate of $82.03 million for the quarter. Revenues increased 1.1% from the prior year quarter. Excluding sales from Noa Home Inc. which closed in late 2024, consolidated revenues increased 2.5%.

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