Culp, Inc. (CULP) Misses Q4 EPS by 14c, Suspends Dividend

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Go back to Culp, Inc. (CULP) Misses Q4 EPS by 14c, Suspends Dividend

Culp Announces Results for Fourth Quarter and Fiscal 2022; Company Takes Steps to Enhance Liquidity

June 29, 2022 4:15 PM EDT

HIGH POINT, N.C.--(BUSINESS WIRE)-- Culp, Inc. (NYSE: CULP) (together with its consolidated subsidiaries, CULP) today reported financial and operating results for the fourth quarter and fiscal year ended May 1, 2022. The company also announced it has completed the closing of a new three-year secured credit facility with up to $40 million in borrowing availability. This new credit facility replaces the companys prior $30 million unsecured facility, which was scheduled to expire in August 2022. In addition, the company has suspended the quarterly cash dividend on its common stock and taken other measures to preserve... More