Culp, Inc. (CULP) Tops Q1 EPS by 5c, Revenues Beat

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Go back to Culp, Inc. (CULP) Tops Q1 EPS by 5c, Revenues Beat

Culp Announces Results and Strengthened Liquidity for First Quarter Fiscal 2021, Announces Quarterly Dividend

September 2, 2020 4:15 PM EDT

HIGH POINT, N.C.--(BUSINESS WIRE)-- Culp, Inc. (NYSE: CULP) today reported financial and operating results for the first quarter ended August 2, 2020, which were materially affected by the coronavirus (COVID-19) pandemic. Additionally, the first quarter of fiscal 2021 included 13 weeks compared with 14 weeks for the first quarter of fiscal 2020.

Fiscal 2021 First Quarter Financial Summary(1)

Net sales were $64.5 million, down 8.8 percent over the prior-year period, with mattress fabric sales down 7.1 percent and upholstery fabric sales down 11.0 percent compared with the first quarter of last year. Pre-tax income from continuing... More