Bassett Furniture Industries (BSET) Releases Earnings Results, Misses Expectations By $-0.12 EPS

Bassett Furniture Industries (BSET) reported quarterly earnings results on Thursday, Jun-30-2016. The company reported $0.31 earnings per share for the quarter, missing the analyst consensus estimate by $-0.12. Analysts had a consensus of $0.43. The company posted revenue of $106.70 million in the period, compared to analysts expectations of $118.02 million. The company’s revenue was down -4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on Bassett Furniture Industries. Bassett Furniture Industries was Initiated by Stifel to “Hold” on Apr 6, 2016.

Bassett Furniture Industries opened for trading at $26.88 and hit $27.8 on the upside on Wednesday, eventually ending the session at $27.62, with a gain of 5.42% or 1.42 points. The heightened volatility saw the trading volume jump to 85,206 shares. Company has a market cap of $301 M.

In a different news, on May 9, 2016, John E Iii Bassett (Senior Vice President, Wood) sold 1,700 shares at $29.60 per share price. According to the SEC, on Apr 28, 2016, John Michael Daniel (SVP, Chief Financial Officer) sold 6,145 shares at $30.02 per share price. On Apr 12, 2016, Jay R Hervey (Vice Pres Sec & Gen Counsel) sold 575 shares at $32.03 per share price, according to the Form-4 filing with the securities and exchange commission.

Bassett Furniture Industries Incorporated (Bassett) is a manufacturer importer and retailer of home furnishings. The Company operates in three segments: Wholesale Retail and Investments and Real Estate. The Company’s store features custom order furniture ready for delivery in less than 30 days more than 1000 upholstery fabrics free in-home design visits and decorating accessories. The Company’s range of furniture products and accessories are designed and sold through a network of 94 retail stores known as Bassett Home Furnishings (BHF). Of the 94 stores the Company owns and operates 60 stores with the other 34 being independently owned. The Company also distributes its products through other multi-line furniture stores many of which feature Bassett galleries or design centers specialty stores and mass merchants.

Bassett Furniture Industries

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