BASSETT, Va., July 9, 2013 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq:BSET) announced today its results of operations for its fiscal quarter ended June 1, 2013. Fiscal 2013 Second Quarter Highlights
- Consolidated sales of $81.2 million for the second quarter of 2013 increased 20% as compared to the second quarter of 2012;
- Operating profit for the quarter was $3.4 million versus $1.6 million for the prior year quarter;
- Wholesale sales increased 17% compared to the prior year quarter;
- Company-owned store delivered sales increased 20% compared to the prior year quarter, which included a 9.3% increase from the 49 comparable stores; and
- Pre-tax income for the quarter was $3.3 million versus $10.0 million for the prior year quarter. Excluding the effect of income received during the second quarter of 2012 from the Continued Dumping and Subsidy Offset Act ("CDSOA") of 2000, pre-tax income for the second quarter of 2013 increased $2.3 million over the prior year quarter.