Bassett Reports Fiscal Year 2025 Third Quarter Results

About this update from Bassett Furniture Industries, Incorporated

[{"type":"image","alt":"Bassett Furniture Industries, Incorporated","displaySize":"","headline":null,"caption":"Bassett Furniture Industries, Incorporated","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":98,"url":"https://media.zenfs.com/en/globenewswire.com/100ceca18d4bda6aab477c84bd2f361d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/278bbDQSZW86R4weBX7UPQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEzNztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/100ceca18d4bda6aab477c84bd2f361d","width":300,"height":98}},"lazy":false},{"type":"text","content":"BASSETT, Va., Oct. 08, 2025 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) reported today its results of operations for its third quarter ended August 30, 2025.","length":183,"tagName":"p"},{"type":"text","content":"Q3 Consolidated Business Highlights: [FY 25 vs. FY 24, unless otherwise specified]","length":82,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenues increased 5.9% from the prior year quarter. Excluding sales from Noa Home Inc., which closed in late 2024, consolidated revenues increased 7.3%.","length":153,"tagName":"p"}]},{"val":[{"type":"text","content":"Operating income was $0.6 million, or 0.7% of sales as compared to a loss of $(6.4) million for the prior year quarter, which included a $1.2 million loss on a logistical services contract which the Company abandoned, and various costs associated with a cyber incident that suspended all financial systems and manufacturing for 7 days.","length":335,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross margin at 56.2% represented a 320-basis point improvement over the prior year primarily due to improved margins in the wholesale business and the fact that the prior year quarter included approximately $0.6 million of manufacturing wages paid during the above-mentioned cyber shutdown.","length":291,"tagName":"p"}]},{"val":[{"type":"text","content":"Selling, general and administrative expenses were 55.4% of sales, 420 basis points lower than the prior year, reflecting benefits from the prior year restructuring plan and ongoing cost containment activities, greater leverage of fixed costs from higher sales levels, as well as the costs associated with the cyber incident in the prior year period.","length":349,"tagName":"p"}]},{"val":[{"type":"text","conten...

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