Quarterly ResultJul 1, 2026, 04:18 PM
Bassett Furniture Q2 Net Income Up 6.3% to $2.04M; EPS $0.24
AI Summary
Bassett Furniture Industries reported mixed results for the second quarter and first half of fiscal 2026. For the quarter ended May 30, 2026, net income increased by 6.3% to $2.04 million, with diluted earnings per share rising to $0.24. However, net sales saw a slight decrease to $83.75 million, and income from operations declined. For the six months, net income and diluted EPS were lower year-over-year. The company also acquired a licensee's store for $470,000 and extended its bank credit facility to January 2029.
Key Highlights
- Q2 Net Income increased 6.3% to $2.04 million from $1.92 million year-over-year.
- Q2 Diluted EPS rose to $0.24, up from $0.22 in the prior year quarter.
- Q2 Net Sales slightly decreased to $83.75 million from $84.35 million year-over-year.
- Acquired the operations of a licensee store in Cherry Hill, New Jersey for $470,000 cash.
- Bank Credit Facility extended to January 31, 2029, with $5.87 million outstanding.
- Net cash provided by operating activities for H1 was $1.90 million, down from $6.90 million YoY.
Price Impact
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