"We are pleased to have returned Bassett to profitability for this quarter." - Rob Spilman, CEO
— Rob Spilman
03Detailed Report
BSET
Bassett Furniture Industries Incorporated
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 13, 2026
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Executive Summary
In the fourth quarter of 2024, Bassett Furniture Industries, Inc. (BSET) reported a significant return to profitability with a net income of $3.2 million, marking a substantial year-over-year improvement of 178.13%. Despite facing considerable headwinds from sluggish home sales and inventory reduction measures impacting revenue, the company successfully increased its gross profit margins by 230 basis points to 56.55%, a commendable feat in a challenging economic environment. The management's strategic focus on restructuring, operational efficiency, and innovative product launches are expected to sustain its growth trajectory moving forward. Bassett's ability to harness e-commerce growth and strengthen its position in dedicated distribution channels reflects its adaptability and potential for future revenue growth.
Key Performance Indicators
Revenue
Decreasing
84.34M
QoQ: 11.53% | YoY: -10.94%
Gross Profit
Decreasing
47.70M
56.55% margin
QoQ: 18.96% | YoY: -7.23%
Operating Income
Increasing
907.00K
QoQ: 114.27% | YoY: 120.10%
Net Income
Increasing
3.20M
QoQ: 171.12% | YoY: 178.13%
EPS
Increasing
1.47
QoQ: 388.24% | YoY: 412.77%
Revenue Trend
Margin Analysis
Financial Highlights
- Revenue: $84.34 million, a decrease of 11% YoY
- Gross Profit: $47.70 million, gross margin up to 56.55%
- Operating Income: $0.91 million, from $-4.50 million YoY
- Net Income: $3.20 million, with an EPS of $1.47
- Cash and Cash Equivalents: $39.55 million
- Total Assets: $341.17 million
- Debt to Equity Ratio: 0.636
- Current Ratio: 1.928
- Return on Equity: 1.91%
This quarter's performance illustrates Bassett's efforts to streamline operations and improve profitability despite external market pressures.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
84.34M
-10.94%
11.53%
Gross Profit
47.70M
-7.23%
18.96%
Operating Income
907.00K
120.10%
114.27%
Net Income
3.20M
178.13%
171.12%
EPS
1.47
412.77%
388.24%
Key Financial Ratios
Gross Profit Margin
Good
56.60%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Weak
1.08%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Fair
3.80%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Weak
0.94%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
1.91%
Return on equity suggests inefficient capital allocation
Current Ratio
Healthy
1.93
Current ratio shows adequate liquidity to meet short-term obligations