US manufacturer of mid-range home furnishings Bassett Furniture Industries Inc. has reported higher sales for its fiscal quarter ended May 27.

Sales for the second quarter were $87.7 million, up 5.5% from second quarter 2005 levels. The company reported net income of $2.9 million compared with $1 million in the second quarter of 2005. Net income for the second quarter of 2005 included a $1.5 million after-tax charge related to the acquisition of the eight Dallas area Bassett Furniture Direct stores.

Other income for the second quarter of 2006 was $2.8 million compared with $1.8 million in the second quarter of 2005.

On a wholesale basis, the company posted net sales of $75.4 million for the quarter, basically flat with sales levels attained in the second quarter of 2005.

Approximately 43% of wholesale shipments were imported products as compared with 32% in the second quarter of 2005. Year-to-date, the company recorded wholesale sales of $151.7, slightly up over the prior year.

Retail sales for the quarter were $20.9 million, an increase of $6.8 million from the second quarter of 2005. For the year, sales were $42.8 million, up $16 million from 2005. This increase in sales for the second quarter and first six months of 2006 has been attributed to higher sales from the 15 stores acquired during 2005.