Bassett Furniture Industries, Incorporated Reports Earnings Results for the Fourth Quarter Ended November 24, 2018
January 17, 2019 at 07:30 pm IST
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Bassett Furniture Industries, Incorporated announced earnings results for the fourth quarter ended November 24, 2018. For the fourth quarter, the company announced total revenue was USD 116.647 million compared to USD 118.225 million a year ago. Operating income was USD 2.047 million compared to USD 7.494 million a year ago. Net income was USD 1.897 million compared to USD 4.974 million a year ago. Basic earnings per share was USD 0.18 compared to USD 0.46 a year ago. For the full year, total revenue was USD 456.855 million compared to USD 452.503 million a year ago. Operating income was USD 14.084 million compared to USD 27.018 million a year ago. Net income was USD 8.218 million compared to USD 18.256 million a year ago. Basic earnings per share was USD 0.77 compared to USD 1.71 a year ago. Diluted earnings per share was USD 0.77 compared to USD 1.7 a year ago.
Bassett Furniture Industries, Incorporated is a retailer, manufacturer and marketer of home furnishings. Its products are sold through a network of Company-owned and licensee-owned stores under the Bassett Home Furnishings (BHF) name. Its segments include Wholesale, Retail-Company-owned stores and Corporate and other. The Wholesale segment is involved in the design, manufacturing and sourcing of furniture products that are distributed through its BHF store network (both Company-owned and licensee-owned stores) and various independent retailers. The Wholesale segment includes its wood and upholstery operations, such as Lane Venture. The Retail-Company-owned stores segment consists of 56 BHF stores that provide consumers with a friendly and casual environment for buying furniture and accessories. It also has a traditional wholesale business with over 700 accounts on the open market, across the United States and internationally and a logistics business specializing in home furnishings.
BASSETT FURNITURE INDUSTRIES, INCORPORATED 
