Bassett Furniture Industries, Incorporated (BSET) Financial Statements (2024 and earlier)

Company Profile

Business Address PO BOX 626
BASSETT, VA 24055
State of Incorp. VA
Fiscal Year End November 30
Industry (SIC) 2511 - Wood Household Furniture, Except Upholstered (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

8/31/2023
MRQ
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
11/30/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments79,34052,08963,51437,12356,11177,074
Cash and cash equivalents61,62534,37445,79919,68733,46853,949
Short-term investments17,71517,71517,71517,43622,64323,125
Receivables20,19136,54732,00621,37819,05519,640
Inventory, net of allowances, customer advances and progress billings85,47778,00454,88666,30264,19254,476
Inventory85,47778,00454,88666,30264,19254,476
Other current assets11,48713,64410,27211,9839,1898,192
Total current assets:196,495180,284160,678136,786148,547159,382
Noncurrent Assets
Operating lease, right-of-use asset99,472114,148116,903 
Property, plant and equipment77,00194,06690,917101,724104,863 
Intangible assets, net (including goodwill), including:21,72723,44823,82726,17628,48017,351
Goodwill12,77112,14612,14614,11716,04311,900
Intangible assets, net (excluding goodwill)8,95511,30211,68112,05912,4375,451
Other undisclosed intangible assets, net (including goodwill) 1     
Deferred income tax assets5,5283,1894,587 
Other noncurrent assets6,0506,5255,6375,3366,4855,378
Other undisclosed noncurrent assets    5,7443,2668,393
Total noncurrent assets:209,778241,376241,871138,980143,09431,122
Other undisclosed assets      103,244
TOTAL ASSETS:406,273421,660402,549275,766291,641293,748
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities46,04555,03451,53146,93054,37052,844
Interest and dividends payable    3,759
Employee-related liabilities15,93416,96411,30812,99414,670
Accounts payable20,35928,32423,42623,67727,40721,760
Accrued liabilities25,68610,77611,14111,94513,96912,655
Deferred revenue35,96351,49239,76225,341
Debt 282 534 2923,405
Customer advances and deposits27,107
Other undisclosed current liabilities18,53727,69326,544 27,157 
Total current liabilities:100,827134,219118,37172,27181,81983,356
Noncurrent Liabilities
Long-term debt and lease obligation  105,841111,972  329
Long-term debt, excluding current maturities      329
Liabilities, other than long-term debt109,83718,86814,17624,82519,51318,603
Liability, pension and other postretirement and postemployment benefits9,95412,96812,08911,83013,17313,326
Other liabilities2,4065,9002,08712,9956,3405,277
Operating lease, liability97,477105,841111,972 
Total noncurrent liabilities:109,837124,709126,14824,82519,51318,932
Total liabilities:210,664258,928244,51997,096101,332102,288
Equity
Equity, attributable to parent, including:195,609162,732158,030178,670190,309191,460
Common stock44,75948,81149,714   
Additional paid in capital  113 195 962
Accumulated other comprehensive income (loss)50(1,823)(1,394)(1,236)(2,338)(2,570)
Retained earnings150,800115,631109,710129,130140,009139,378
Other undisclosed equity, attributable to parent    50,58152,63853,690
Total equity:195,609162,732158,030178,670190,309191,460
TOTAL LIABILITIES AND EQUITY:406,273421,660402,549275,766291,641293,748

Income Statement (P&L) ($ in thousands)

8/31/2023
TTM
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
11/30/2017
Revenues485,601486,534385,863452,087456,855452,503
Revenue, net452,503
Cost of revenue(237,262)(2,969)(163,567)(179,244)(179,581)(177,579)
Cost of goods and services sold(237,262)(2,969)(163,567)(179,244)(2,309)(177,579)
Gross profit:248,339483,565222,296272,843277,274274,924
Operating expenses(214,514)(16,525)(3,021)(3,743)(2,550)(2,413)
Other undisclosed operating income (loss)1,040(441,041)(235,498)(269,695)(260,640)(245,493)
Operating income (loss):34,86525,999(16,223)(595)14,08427,018
Nonoperating income (expense)(765)(1,437)(514)(1,139)(1,821)(2,139)
Investment income, nonoperating30254236568431 
Other nonoperating expense(1,067)(1,491)(750)(1,707)(2,252)(2,139)
Interest and debt expense (38)(322)(49)(6)(57)(234)
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income (loss) from continuing operations before equity method investments, income taxes:34,06224,240(16,786)(1,740)12,20624,645
Other undisclosed income from continuing operations before income taxes      3,231
Income (loss) from continuing operations before income taxes:34,06224,240(16,786)(1,740)12,20627,876
Income tax expense (benefit)(8,702)(6,198)6,365(188)(3,988)(9,620)
Income (loss) from continuing operations:25,36018,042(10,421)(1,928)8,21818,256
Income (loss) before gain (loss) on sale of properties:18,042(10,421)(1,928)8,21818,256
Income from discontinued operations39,985     
Net income (loss):65,34518,042(10,421)(1,928)8,21818,256
Other undisclosed net loss attributable to parent      
Net income (loss) available to common stockholders, diluted:65,34518,042(10,421)(1,928)8,21818,256

Comprehensive Income ($ in thousands)

8/31/2023
TTM
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
11/30/2017
Net income (loss):65,34518,042(10,421)(1,928)8,21818,256
Other comprehensive income (loss)9926(86)   
Other undisclosed comprehensive income      
Comprehensive income (loss):65,44418,068(10,507)(1,928)8,21818,256
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1,774(454)(72)1,102777(17)
Comprehensive income (loss), net of tax, attributable to parent:67,21817,614(10,579)(826)8,99518,239

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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