Bassett Profit Surpasses Estimates; Stock Up 17%

(RTTNews) - Bassett Furniture Industries Inc (BSET) on Wednesday reported second-quarter net earnings of $4.5 million or $0.42 per share compared with $2.6 million or $0.24 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.30 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were up 31% at $111.6 million compared with $85.2 million in the prior year.

Company-owned store delivered sales increased 20%, including a comparable store sales increase of 17%, compared with a year ago.

Bassett shares are trading midday at $33.41, up $5.00 or 17.60%, on the Nasdaq.