Revenue Update on Bassett Furniture Industries(NASDAQ:BSET)

Bassett Furniture Industries(NASDAQ:BSET) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jun 30, 2016. Company reported revenue of $106.67M. Analysts estimated a revenue of $118.02M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.43.

In a different note, Stifel Nicolaus said it Initiates Coverage on Bassett Furniture Industries, according to a research note issued on Apr 5, 2016. The shares have been rated ‘Hold’ by the firm.

Bassett Furniture Industries (BSET) shares turned negative on Tuesdays trading session with the shares closing down -0.15 points or -0.61% at a volume of 1,06,189. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $24.73. The peak price level was also seen at $24.73 while the days lowest was $23.85. Finally the shares closed at $24.35. The 52-week high of the shares is $38.65 while the 52-week low is $22.97. According to the latest information available, the market cap of the company is $266 M.

Several Insider Transactions has been reported to the SEC. On May 9, 2016, John E Iii Bassett (Senior Vice President, Wood) sold 1,700 shares at $29.60 per share price.Also, On Apr 28, 2016, John Michael Daniel (SVP, Chief Financial Officer) sold 6,145 shares at $30.02 per share price.On Apr 12, 2016, Jay R Hervey (Vice Pres Sec & Gen Counsel) sold 575 shares at $32.03 per share price, according to the Form-4 filing with the securities and exchange commission.

Bassett Furniture Industries Incorporated (Bassett) is a manufacturer importer and retailer of home furnishings. The Company operates in three segments: Wholesale Retail and Investments and Real Estate. The Company’s store features custom order furniture ready for delivery in less than 30 days more than 1000 upholstery fabrics free in-home design visits and decorating accessories. The Company’s range of furniture products and accessories are designed and sold through a network of 94 retail stores known as Bassett Home Furnishings (BHF). Of the 94 stores the Company owns and operates 60 stores with the other 34 being independently owned. The Company also distributes its products through other multi-line furniture stores many of which feature Bassett galleries or design centers specialty stores and mass merchants.

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