CULP, Inc. (CFI) Tops Q1 EPS by 2c

CULP, Inc. (NYSE: CFI) reported Q1 EPS of $0.37, $0.02 better than the analyst estimate of $0.35. Revenue for the quarter came in at $76.1 million versus the consensus estimate of $74.4 million.

The company expects to report pre-tax income for the second fiscal quarter of 2015 in the range of $4.2 million to $4.9 million. Pre-tax income for last year’s second quarter was $4.8 million.

Commenting on the results, Frank Saxon, president and chief executive officer of Culp, Inc., said, “Overall, our first fiscal quarter performance was in line with our expectations, marking a solid start to fiscal 2015. We continue to experience favorable customer response to our creative designs and wide range of innovative products. Our focused effort on product excellence has been the key driver of our growth, and we will continue to pursue this same strategy in fiscal 2015. Importantly, we have a scalable and flexible manufacturing platform that supports our ability to compete in a fashion-driven business that is always changing. We also have the financial strength to make the strategic investments to support our continued growth as reflected in our plan to significantly increase capital expenditures for fiscal 2015.”

For earnings history and earnings-related data on CULP, Inc. (CFI) click here.

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