Filing Flows › Bassett Furniture Industries (BSET) › Q4 FY24
Bassett Furniture Industries (BSET) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Feb 10, 2025
Bassett Furniture Industries (BSET) reported revenue of $84.3M for the fourth quarter fiscal 2024 (Q4 FY24), -11% from a year earlier and +12% from the quarter before. Operating margin was 1.1%, net earnings $3.2M (3.8% of revenue).
Bassett Furniture Industries, Q4 FY24: revenue $84.3M (-11% year over year), operating margin 1.1%, net earnings $3.2M, operating cash flow $6.4M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $84.3M | +12% | -11% |
| Gross profit | $47.7M | +19% | -7% |
| Operating profit | $907K | — | — |
| Net earnings | $3.2M | — | — |
| Operating cash flow | $6.4M | — | -25% |
| Free cash flow | $5.9M | — | +4% |
What changed
Revenue was $84.3M in Q4 FY24, down 11% year over year and up 12% from the previous quarter. Bassett Custom Upholstery was the largest line at 58% of revenue.
Gross margin was 56.6%, up 2.3 points from a year earlier. Operating profit was $907K, a 1.1% margin (up 5.8 points year over year). Operating expenses fell 16% while revenue fell 11%. Net earnings were $3.2M. The tax line was a benefit of $2.0M on pre-tax earnings of $1.2M. Non-operating items added $313K, 26% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $6.4M (down 25% year over year), 199% of net earnings. Non-cash charges added back $2.3M of depreciation and amortization. Working capital and other items added $864K. Capital expenditures of $491K left free cash flow of $5.9M.
Questions
What was Bassett Furniture Industries' revenue in the fourth quarter fiscal 2024?
Bassett Furniture Industries (BSET) reported revenue of $84.3M for the fourth quarter fiscal 2024 (Q4 FY24), -11% from a year earlier and +12% from the quarter before.
Was Bassett Furniture Industries profitable in the fourth quarter fiscal 2024?
Operating profit was $907K (1.1% of revenue) and net earnings $3.2M.