Bassett: Fiscal Fourth Quarter Earnings Overview

Bassett Furniture Industries Announces Fourth-Quarter Results

Bassett Furniture Industries Inc., headquartered in Bassett, Virginia, has released its financial results for the fiscal fourth quarter, reporting a net profit of $1.5 million.

The company’s earnings translated to $0.18 per share. After accounting for asset impairment adjustments, the earnings per share stood at $0.23.

During this quarter, Bassett Furniture generated $88.7 million in revenue.

Looking at the full fiscal year, the company achieved a net income of $6.1 million, or $0.70 per share, marking a return to profitability. Annual revenue reached $335.3 million.

Since the start of the year, Bassett’s stock price has declined by nearly 5%. However, by the close of trading on Wednesday, shares were valued at $15.95, reflecting a 14% increase over the past year.