Executive Summary
In Q1 2025, Bassett Furniture Industries experienced a decline in consolidated sales of 5.1% year-over-year, driven by calendar shifts that resulted in a shorter quarter than the prior year. Normalized revenues, however, showed a positive 2.2% increase, reflecting resilience in the companyΓ’β¬β’s core business despite challenging market conditions. Management highlighted significant operational improvements, achieving a notable $4.8 million increase in operating profit, and emphasizing their commitment to strategic investments in technology and efficiency as essential drivers for future growth. Despite operational challenges attributed to external economic pressures, management remains optimistic about investment potential in innovation and product diversification.
Key Performance Indicators
Revenue
82.16M
QoQ: -2.58% | YoY:-5.07%
Gross Profit
46.83M
57.00% margin
QoQ: -1.81% | YoY:-2.17%
Operating Income
2.46M
QoQ: 170.67% | YoY:204.16%
Net Income
1.85M
QoQ: -42.13% | YoY:255.41%
EPS
0.21
QoQ: -85.71% | YoY:250.00%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue**: $82,162,000 (Q1 2025) Γ’β β 5.1% YoY
- **Gross Profit**: $46,830,000; **Gross Profit Margin**: 56.997%
- **Operating Income**: $2,455,000; **Operating Income Margin**: 2.99%
- **Net Income**: $1,854,000; **Net Income Margin**: 2.26% (positive shift from YOY loss)
- **Earnings Per Share (EPS)**: $0.21 (compared to -$0.14 in Q1 2024)