Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

Equity Research Firm

Equity Bottom-Up

Bassett Furniture Inds / Equity Bottom-Up

<ul><li>Bassett announced an additional set of restructuring initiatives today in its continued effort to bring its cost structure in line with current demand, preserve its balance sheet strength, and free cash flow generation over the longer term, and improve its operating leverage.</li><li>The company said that it will eliminate additional headcount in an effort to reduce overhead (bringing total headcount reductions to 11%) in light of continued adverse industry conditions. Bassett will record a $500k charge in 4QFY24, affecting GAAP EPS by $0.04.</li><li>The restructuring and headcount actions announced today should save the company $2.5 million annually, or about $0.21 in EPS.</li></ul>

Bassett announced an additional set of restructuring initiatives today in its continued effort to bring its cost structure in line with current demand, preserve its balance sheet strength, and free cash flow generation over the longer term, and improve its operating leverage.The company said that it will eliminate additional headcount in an effort to reduce overhead (bringing total headcount reductions to 11%) in light of continued adverse industry conditions. Bassett will record a $500k charge in 4QFY24, affecting GAAP EPS by $0.04.The restructuring and headcount actions announced today should save the company $2.5 million annually, or about $0.21 in EPS.

BSET - Additional Restructuring Initiative