Bassett Reports Fiscal Third Quarter Results, Updates Progress on Restructuring Plan and Announces Regular Quarterly Dividend
Bassett Furniture Industries, Incorporated (BSET)
Last bassett furniture industries, incorporated earnings: 4/2 09:00 am
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US:NASDAQ Investor Relations:
investors.bassettfurniture.com/investor-relations
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Source: GlobeNewswire
BASSETT, Va., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) reported today its results of operations for its third quarter ended August 31, 2024. In addition, the Company’s Board of Directors declared a regular quarterly dividend of $0.20 per share of common stock, payable on Nov. 29, 2024, to shareholders of record at the close of business on Nov. 15, 2024. This dividend represents an 11% increase over the prior year’s quarterly dividend. Q3 Consolidated Business Highlights: [FY 24 vs. FY 23, unless otherwise specified] Revenues decreased 13%, impacted by a cyber incident that suspended all financial systems and manufacturing for 7 days.Operating loss of $6.4 million, which included a $1.2 million loss on a logistical services contract the Company abandoned and various costs associated with the cyber incident.Gross margin of 53.0%, which included $0.6 million of manufacturing wages paid during the cyber shutdown. Excluding the wage charge
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News
- Bassett Cuts Workforce to Drive Cost Savings & Restructuring Progress [Yahoo! Finance]Yahoo! Finance
- Bassett Furniture Industries, Incorporated (NASDAQ:BSET) is favoured by institutional owners who hold 59% of the company [Yahoo! Finance]Yahoo! Finance
- Bassett Announces Additional Cost Structure Reductions and Updates Progress on Restructuring Plan [Yahoo! Finance]Yahoo! Finance
- Bassett Announces Additional Cost Structure Reductions and Updates Progress on Restructuring PlanGlobeNewswire
- Bassett Furniture Industries, Incorporated (NASDAQ: BSET) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
BSET
Earnings
- 10/9/24 - Miss
BSET
Sec Filings
- 11/20/24 - Form 8-K
- 10/10/24 - Form 10-Q
- 10/10/24 - Form 8-K
- BSET's page on the SEC website