| Business Summary | | Bassett
Furniture
Industries,
Incorporated's
primary
business
is
in
wholesale
home
furnishings.
The
wholesale
home
furnishings
business
is
involved
principally
in
the
manufacture,
sale
and
distribution
of
furniture
products
to
a
network
of
independently
owned
stores
and
stores
owned
by
an
affiliate
of
the
Company.
The
wholesale
business
consists
primarily
of
two
operating
segments,
wood
and
upholstery.
The
wood
segment
is
engaged
in
the
manufacture
and
sale
of
wood
furniture,
including
bedroom
and
dining
suites
and
accent
pieces,
to
independent
retailers
and
a
retailer,
which
is
an
affiliate
of
the
Company.
The
upholstery
segment
is
involved
in
the
manufacture
and
sale
of
upholstered
frames
and
cut
upholstery
items
having
a
variety
of
frame
and
fabric
options,
including
sofas,
chairs,
and
love
seats. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Bassett
Furniture
Industries
manufactures
and
sells
a
full
line
of
home
furniture,
distributed
through
retailers
nationwide.
For
the
26
weeks
ended
5/26/01,
revenues
fell
17%
to
$156.3
million.
Net
income
before
acct.
change
fell
81%
to
$1.7
million.
Revenues
reflect
a
soft
retail
furniture
market
and
the
loss
of
two
major
customers
due
to
bankruptcy.
Net
income
also
reflects
$2.7
million
in
restructuring
costs
for
the
consolidation
of
the
J.D.
Basset
plant
and
closing
of
the
Claremont
plant. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Paul Fulton, 66 Chairman | $246K | Robert Spilman, Jr., 44 Pres,
CEO, Chief Operating Officer | 320K | Barry Safrit, 38 CFO,
VP | 139K | Keith Sanders, 56 Exec.
VP, Operations | 182K | Grover Elliot, 60 VP
of Fin. and Investor Relations | 179K | Dollar amounts are as of 25-Nov-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|