Bassett Furniture Q2 Revenue Dips 0.7% to $83.8M, EPS Climbs to $0.24
BSET sits 45% above its 52-week low of $13.17 on elevated volume (2.5× avg).
Summary
Bassett Furniture reported Q2 revenue of $83.8 million, a 0.7% year-over-year decline, but slightly above analyst consensus. Diluted EPS rose to $0.24 from $0.22 in the prior year, and gross margins improved. This Reuters report provides detailed figures and market commentary on the Q2 results, following the company's 10-Q filing earlier today. While revenue saw a slight decline, the EPS increase and margin improvement suggest underlying operational strength. The company continues to cite a soft housing market as a significant headwind, which remains a concern for future growth. Bassett anticipates $1.5 million to $2 million in annual expense reductions to be fully realized by fiscal year-end, which could bolster profitability.
At the time of this announcement, BSET was trading at $19.10 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $162.5M. The 52-week trading range was $13.17 to $19.75. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.