Culp Announces Results for Third Quarter Fiscal 2020

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Go back to Culp Announces Results for Third Quarter Fiscal 2020

Culp, Inc. (CULP) Misses Q2 EPS by 13c, Revenues Miss

March 4, 2020 4:23 PM EST

Culp, Inc. (NYSE: CULP) reported Q2 EPS of $0.00, $0.13 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $72 million versus the consensus estimate of $73.15 million.

Net sales were $72.0 million, down 6.8 percent over the prior year, with mattress fabrics sales down 7.4 percent, upholstery fabrics sales down 5.7 percent, and home accessories sales down 11.0 percent.Pre-tax loss (GAAP) for the third quarter of fiscal 2020 was $5.1 million, compared with pre-tax income of $4.3 million for the prior-year period.Pre-tax income (non-GAAP) for the third quarter of fiscal 2020 was $2.4 million excluding a reversal of a... More