Bassett Q4 revenue up 5.1% to $88.7M; operating income $2.3M vs $0.9M year ago

BASSETT FURNITURE INDUSTRIES INC

Diluted EPS $0.18 vs $0.38 prior year; prior year included $2.6M tax benefit, excluding which EPS would have been $0.08.
Gross margin 56.3%, down 30 bps YoY; SG&A improved 60 bps to 53.2% of sales.
Wholesale sales +8.3% to $56.7M; retail sales +7.9% to $57.3M.
Operating cash flow $7.8M for Q4.
CEO announces new Bassett Hospitality Division targeting country clubs, senior living, boutique hotels.

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