{"id":3030,"date":"2014-01-03T12:04:51","date_gmt":"2014-01-03T06:34:51","guid":{"rendered":"http:\/\/indonesia-furniture.com\/news\/2014\/01\/03\/bassett-to-restate-2012-2013-earnings\/"},"modified":"2014-01-03T12:04:51","modified_gmt":"2014-01-03T06:34:51","slug":"bassett-to-restate-2012-2013-earnings","status":"publish","type":"post","link":"https:\/\/indonesia-furniture.com\/articles\/bassett-to-restate-2012-2013-earnings\/","title":{"rendered":"Bassett to restate 2012, 2013 earnings"},"content":{"rendered":"<p>Furniture Today,<br \/>\nBASSETT, Va. \u00e2\u20ac\u201d Bassett Furniture Inds. said Monday it                         <!--adsense--><br \/>\n\t\t <!--more--><br \/>\nwill restate its earnings for the fiscal year ended in November 2012 and also for periods it has already reported for 2013.<\/p>\n<p>The company said the restatement, triggered by a review of the financial statements by the Securities and Exchange Commission staff, will alter the accounting treatment of items in the company\u00e2\u20ac\u2122s acquisition of three retail operations in 2012.<\/p>\n<p> Bassett said the move will increase fiscal 2012 pretax income by $2.5 million for the second quarter and $1.7 million for the third quarter, and will decrease income by a lesser amount in the 2013 year. The company said it agrees with the SEC staff recommendation it should not have recognized certain charges included in connection with the acquisitions.<\/p>\n<p>The company said it will detail the changes in its earnings report for the year ended this Nov. 25, which it expects to release in mid-January.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Furniture Today, BASSETT, Va. \u00e2\u20ac\u201d Bassett Furniture Inds. said Monday it<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3030","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=3030"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3030\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=3030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=3030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=3030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}