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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>BSET beat our WTR estimate by $0.11, posting 2QFY25 EPS of $0.22 on better-than-expected margins as restructuring gains demonstrate traction.</li><li>Revenue in the quarter, up 2.5% on an organic basis if we adjust for NOA Home (closed as part of the restructuring), was ~$1.5 million better than we expected in what remains a very tough industry environment for residential furniture.</li><li>The Bassett stores (company-owned and independent) outperformed the open market during the quarter.</li></ul>

BSET beat our WTR estimate by $0.11, posting 2QFY25 EPS of $0.22 on better-than-expected margins as restructuring gains demonstrate traction.Revenue in the quarter, up 2.5% on an organic basis if we adjust for NOA Home (closed as part of the restructuring), was ~$1.5 million better than we expected in what remains a very tough industry environment for residential furniture.The Bassett stores (company-owned and independent) outperformed the open market during the quarter.

Bassett Furniture Industries, Inc: 2QFY25 EPS of $0.22 Beats WTR Estimate on Restructuring Gains