Bassett Furniture reports Q4 38c vs. (47c) last year

Reports Q4 revenue $84.3M, consensus $82.84M.”The steps we took in our restructuring plan helped right-size our business and we returned to profitability in the fourth quarter,” said Robert H. Spilman, Jr., Bassett Chairman and Chief Executive Officer. “We delivered strong consolidated gross margins and $0.38 in diluted earnings per share. Our team remains focused on operating efficiency, leveraging our cost structure and running a leaner business. We’re driving newness and innovation into Bassett’s product lines, e-commerce and marketing to deliver price and value for customers. We are well-positioned for the eventual housing industry turnaround and will focus on growth and productivity until it does.”