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Consumer Discretionary › Wood Household Furniture, (No Upholstered)

BSET Price Correlated With Financials For Bassett Furniture Industries

Free historical financial statements for Bassett Furniture Industries Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 44 quarters since 2012. Compare with BSET stock chart to see long term trends.

BSET Stock Compared to Quarterly

BSET Income Statement

Revenue, Net:121019000
Revenue Per Share:12.8814
Cost of Goods & Services Sold:56784000
Gross Profit:64235000
Selling, General & Admin Expense:57532000
Operating Income:6703000
Income Taxes:13671000
Net Income:5026000
Earnings Per Share, Basic:0.6
Shares Outstanding, Basic Avg:9394873

BSET Cash Flow

Operating Activities Net Income:
Depreciation, Depletion & Amortization:2577000
Change in Accounts Receiveable:-3112000
Net Cash from Operations:9325000
Net Cash from Operations Per Share:0.9926
Repurchases/Buybacks Common Stock:4859000
Cash Dividends Paid:1428000
Net Cash from Financing Activities:-6288000
Property, Plant & Equipment Purchases:4030000
Net Cash from Investing Activities:-8224000
Net Change in Cash & Equivalents:-5245000

BSET Balance Sheet

Cash and Cash Equivalents:61625000
Short-Term Investments:17715000
Accounts Receivable, Net:17838000
Inventories:85477000
Total Current Assets:196495000
Property, Plant & Equipment, Net:77001000
Total Assets:406273000
Accounts Payable:20359000
Total Short-Term Liabilities:100827000
Total Long-Term Liabilities:109837000

Major Holders (from 13F filings)

Investment Type
Change
Value (x$1000)
increase or decrease
Dimensional Fund Advisors LP
777,371 sh
-11,369 sh
-1%
$12,189
-$2,102
Gamco Investors, Inc. Et Al
593,793 sh
-92,822 sh
-14%
$9,311
-$2,059
Vanguard Group Inc
414,612 sh
-5,100 sh
-1%
$6,501
-$1,105
Renaissance Technologies LLC
407,461 sh
-39,800 sh
-9%
$6,389
-$1,018
Acadian Asset Management LLC
344,733 sh
83,798 sh
32%
$5,401
$673
Millennium Management LLC
271,231 sh
172,195 sh
174%
$4,253
$2,458
Victory Capital Management Inc
191,185 sh
-127,145 sh
-40%
$2,998
-$2,770
Blackrock Inc.
184,292 sh
7,674 sh
4%
$2,890
-$311
Gabelli Funds LLC
183,500 sh
-11,800 sh
-6%
$2,877
-$357
Rbf Capital, LLC
134,249 sh
 
$2,105
Arrowstreet Capital, Limited Partnership
124,969 sh
76,883 sh
160%
$1,960
$1,089
Jacobs Levy Equity Management, Inc
108,724 sh
-19,836 sh
-15%
$1,705
-$625
Bank Of New York Mellon Corp
104,856 sh
6,258 sh
6%
$1,644
-$142
Bridgeway Capital Management Inc
96,490 sh
3,187 sh
3%
$1,513
-$178
Geode Capital Management, LLC
85,906 sh
-91 sh
0%
$1,347
-$211
Caption Management, LLC
Call options for 82,000 sh
-118,000 sh
-59%
$1,284
-$2,340
Lsv Asset Management
62,578 sh
34,378 sh
122%
$981
$470
O'shaughnessy Asset Management, LLC
60,347 sh
15,584 sh
35%
$946
$135
Eam Investors, LLC
58,029 sh
58,029 sh
NEW
$910
$910
Susquehanna International Group, Llp
Put options for 57,300 sh
57,300 sh
NEW
$898
$898
COMPANY PROFILE
1. Description of Business

Bassett Furniture Industries, Incorporated (together with its consolidated subsidiaries, “Bassett”, “we”, “our”, the “Company”) based in Bassett, Virginia, is a leading manufacturer, marketer and retailer of branded home furnishings. Bassett’s full range of furniture products and accessories, designed to provide quality, style and value, are sold through an exclusive nation-wide network of 97 retail stores known as Bassett Home Furnishings (referred to as “BHF”). Of the 97 stores, the Company owns and operates 63 stores (“Company-owned retail stores”) with the other 34 being independently owned (“licensee operated”). We also distribute our products through other multi-line furniture stores, many of which feature Bassett galleries or design centers.

We sourced approximately 24% of our wholesale products from various foreign countries, with the remaining volume produced at our five domestic manufacturing facilities.

Impact of the COVID- 19 Pandemic Upon our Financial Condition and Results of Operations

On March 11, 2020, the World Health Organization declared the coronavirus (“COVID- 19”) outbreak to be a global pandemic. In response to this declaration and the rapid spread of COVID- 19 within the United States, federal, state and local governments throughout the country imposed varying degrees of restrictions on social and commercial activity to promote social distancing in an effort to slow the spread of the illness. These measures had a significant adverse impact upon many sectors of the economy, including non-essential retail commerce, beginning in our second fiscal quarter of 2020.

In response to the restrictive measures imposed by governmental authorities and for the protection of our employees and customers, we temporarily closed our dedicated stores, our manufacturing locations and many of our warehouses for much of the second fiscal quarter of 2020. This extended period of suspended operations had a material adverse impact upon our results of operations during the second fiscal quarter of 2020 and resulted in a significant net loss for 2020. In addition to operating losses resulting from severely reduced sales volumes, we also recorded charges for goodwill impairment (Note 7) as well as for the impairment of certain other long-lived assets (Note 13). However, since restarting our manufacturing operations and reopening stores, we have seen a significant improvement in business conditions which allowed us to return to overall profitability for the third and fourth fiscal quarters of 2020 continuing through fiscal 2021. Tempering these improvements are the continuing logistical challenges faced by the entire home furnishings industry resulting from COVID-related labor shortages and supply chain disruptions creating significant delays in order fulfillment and increasing backlogs.

Whereas the progress in mass vaccination programs in the U.S. has prompted state and local governments to substantially lift most remaining restrictions on commercial retail activity, the recent resurgence in COVID- 19 cases due to the Delta and Omicron variants, as well as any future variants of the coronavirus entering the U.S., could prompt a return to tighter restrictions in certain areas of the country. Furthermore, pandemic-related labor shortages and supply chain disruptions are ongoing and order cancellations could result if the present delays in order fulfillment continue. Therefore, uncertainty remains regarding the ongoing impact of the COVID- 19 pandemic upon our financial condition and future results of operations, as well as upon the significant estimates and assumptions we utilize in reporting certain assets and liabilities.

Data imported from Bassett Furniture Industries Inc SEC filings. Check original filings before making any investment decision.