Bassett Furniture Industries, Incorporated (BSET) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in thousands)

2/28/2022
TTM
11/30/2021
11/30/2020
11/30/2019
11/30/2018
11/30/2017
11/30/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments49,59552,08963,51437,12356,11177,07458,269
Cash and cash equivalents31,88034,37445,79919,68733,46853,94935,144
Short-term investments17,71517,71517,71517,43622,64323,12523,125
Receivables32,29936,54732,00621,37819,05519,64018,358
Inventory, net of allowances, customer advances and progress billings81,67978,00454,88666,30264,19254,47653,215
Inventory81,67978,00454,88666,30264,19254,47653,215
Disposal group, including discontinued operation61,888      
Other current assets11,01613,64410,27211,9839,1898,19210,727
Total current assets:236,477180,284160,678136,786148,547159,382140,569
Noncurrent Assets
Operating lease, right-of-use asset94,761114,148116,903 
Property, plant and equipment69,30394,06690,917101,724104,863  
Intangible assets, net (including goodwill)14,34023,44823,82726,17628,48017,35117,360
Goodwill7,21712,14612,14614,11716,04311,90011,588
Intangible assets, net (excluding goodwill)7,12311,30211,68112,05912,4375,4515,772
Deferred income tax assets3,0733,1894,587 
Other noncurrent assets6,1036,5255,6375,3366,4855,3787,612
Other undisclosed noncurrent assets   5,7443,2668,3938,071
Total noncurrent assets:187,580241,376241,871138,980143,09431,12233,043
Other undisclosed assets     103,244104,655
TOTAL ASSETS:424,057421,660402,549275,766291,641293,748278,267
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities45,91055,03451,53146,93054,37052,84448,542
Accounts payable24,37728,32423,42623,67727,40721,76021,281
Accrued liabilities10,60910,77611,14111,94513,96912,65510,441
Employee-related liabilities10,92415,93416,96411,30812,99414,67013,602
Interest and dividends payable     3,7593,218
Deferred revenue54,49151,49239,76225,341
Debt  534 2923,4053,290
Disposal group, including discontinued operation29,892      
Customer advances and deposits27,10725,181
Other undisclosed current liabilities20,05127,69326,544 27,157  
Total current liabilities:150,344134,219118,37172,27181,81983,35677,013
Noncurrent Liabilities
Long-term debt and lease obligation93,333105,841111,972  3293,821
Long-term debt, excluding current maturities     3293,821
Operating lease, liability93,333105,841111,972 
Liabilities, other than long-term debt13,95718,86814,17624,82519,51318,60316,728
Liability, pension and other postretirement and postemployment benefits13,26812,96812,08911,83013,17313,32612,760
Other liabilities6895,9002,08712,9956,3405,2773,968
Total noncurrent liabilities:107,290124,709126,14824,82519,51318,93220,549
Total liabilities:257,634258,928244,51997,096101,332102,28897,562
Stockholders' equity
Stockholders' equity attributable to parent, including:166,423162,732158,030178,670190,309191,460180,705
Common stock48,64048,81149,714    
Additional paid in capital 113 195 962255
Accumulated other comprehensive loss(1,774)(1,823)(1,394)(1,236)(2,338)(2,570)(2,553)
Retained earnings119,557115,631109,710129,130140,009139,378129,388
Other undisclosed stockholders' equity attributable to parent   50,58152,63853,69053,615
Total stockholders' equity:166,423162,732158,030178,670190,309191,460180,705
TOTAL LIABILITIES AND EQUITY:424,057421,660402,549275,766291,641293,748278,267

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

2/28/2022
TTM
11/30/2021
11/30/2020
11/30/2019
11/30/2018
11/30/2017
11/30/2016
Revenues490,725486,534385,863452,087456,855452,503432,038
Revenue, net452,503432,038
Cost of revenue(61,465)(2,969)(163,567)(179,244)(179,581)(177,579)(167,519)
Cost of goods and services sold(61,465)(2,969)(163,567)(179,244)(2,309)(177,579)(167,519)
Gross profit:429,260483,565222,296272,843277,274274,924264,519
Operating expenses(67,477)(16,525)(3,021)(3,743)(2,550)(2,413)(1,148)
Other undisclosed operating loss(335,327)(441,041)(235,498)(269,695)(260,640)(245,493)(235,178)
Operating income (loss):26,45625,999(16,223)(595)14,08427,01828,193
Nonoperating expense(1,729)(1,437)(514)(1,139)(1,821)(2,139)(2,104)
Investment income, nonoperating 54236568431  
Other nonoperating expense(679)(1,491)(750)(1,707)(2,252)(2,139)(2,104)
Interest and debt expense (322)(49)(6)(57)(234)(552)
Other undisclosed loss from continuing operations before equity method investments, income taxes(322)      
Income (loss) from continuing operations before equity method investments, income taxes:24,40524,240(16,786)(1,740)12,20624,64525,537
Other undisclosed income from continuing operations before income taxes     3,231240
Income (loss) from continuing operations before income taxes:24,40524,240(16,786)(1,740)12,20627,87625,777
Income tax expense (benefit)(6,083)(6,198)6,365(188)(3,988)(9,620)(9,948)
Net income (loss):18,32218,042(10,421)(1,928)8,21818,25615,829
Other undisclosed net income attributable to parent1,282      
Net income (loss) available to common stockholders, diluted:19,60418,042(10,421)(1,928)8,21818,25615,829

Comprehensive Income ($ in thousands)

2/28/2022
TTM
11/30/2021
11/30/2020
11/30/2019
11/30/2018
11/30/2017
11/30/2016
Net income (loss):18,32218,042(10,421)(1,928)8,21818,25615,829
Other comprehensive income (loss)3626(86)   201
Other undisclosed comprehensive income26      
Comprehensive income (loss):18,38418,068(10,507)(1,928)8,21818,25616,030
Other undisclosed comprehensive income (loss), net of tax, attributable to parent807(454)(72)1,102777(17)(76)
Comprehensive income (loss), net of tax, attributable to parent:19,19117,614(10,579)(826)8,99518,23915,954

Statements sources

The financial statements are based on the company's filings with the 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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