Last $17.79 USD
Change Today -0.01 / -0.06%
Volume 9.9K
CFI On Other Exchanges
Symbol
Exchange
New York
As of 3:12 PM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

culp inc (CFI) Snapshot

Open
$17.77
Previous Close
$17.80
Day High
$17.91
Day Low
$17.41
52 Week High
01/27/14 - $20.62
52 Week Low
05/20/14 - $16.74
Market Cap
217.9M
Average Volume 10 Days
22.2K
EPS TTM
$1.41
Shares Outstanding
12.3M
EX-Date
06/27/14
P/E TM
12.6x
Dividend
$0.20
Dividend Yield
3.30%
Current Stock Chart for CULP INC (CFI)

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culp inc (CFI) Details

Culp, Inc. manufactures, sources, markets, and sells mattress fabrics and upholstery fabrics to the furniture and bedding industries in North America and internationally. The company operates through two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for covering mattresses, box springs, and foundations. The Upholstery Fabric segment provides jacquard woven fabrics, velvets, microdenier suedes, woven dobbies, knitted fabrics, and piece-dyed woven products, as well as decorative and leather fabrics for use in the production of residential and commercial upholstered furniture, such as sofas, recliners, chairs, loveseats, sectionals, sofa-beds, and office seating. The company was founded in 1972 and is headquartered in High Point, North Carolina.

1,167 Employees
Last Reported Date: 07/11/14
Founded in 1972

culp inc (CFI) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $370.4K
Founder, Chairman and Chairman of Executive C...
Total Annual Compensation: $291.0K
Chief Financial Officer, Vice President, Corp...
Total Annual Compensation: $190.1K
President of Culp Home Fashions Division
Total Annual Compensation: $246.6K
Principal Accounting officer, Corporate Contr...
Total Annual Compensation: $135.5K
Compensation as of Fiscal Year 2013.

culp inc (CFI) Key Developments

Culp Seeks Acquisitions

Culp, Inc. (NYSE:CFI) plans to make acquisitions. Frank Saxon, President and Chief Executive Officer of Culp, said, “We are open to strategic acquisitions in our Mattress Fabrics business.”

Culp, Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended April 27, 2014; Approves Special Cash and Quarterly Cash Dividends Payable on July 15, 2014; Provides Earnings Guidance for the First Quarter and Capital Expenditure Guidance for the Full Year of Fiscal 2015

Culp, Inc. announced unaudited earnings results for the fourth quarter and full year ended April 27, 2014. For the quarter, the company reported net sales of $74,043,000 compared with $70,375,000 for the same period a year ago. Income before income taxes was $4,120,000 compared with $5,863,000 for the same period a year ago. Net income was $2,740,000 or $0.22 per diluted share compared with $3,702,000 or $0.30 per diluted share for the same period a year ago. Adjusted net income was $3,395,000 or $0.27 per diluted share compared with $5,030,000 or $0.41 per diluted share for the same period a year ago. Net sales up 5.2%, with mattress fabric sales up 6.9% and upholstery fabric sales up 2.8%, compared with the fourth quarter last year. For the full year, the company reported net sales of $287,162,000 compared with $268,814,000 for the same period a year ago. Income before income taxes was $19,043,000 compared with $20,289,000 for the same period a year ago. Net income was $17,447,000 or $1.41 per diluted share compared with $18,317,000 or $1.47 per diluted share for the same period a year ago. Adjusted net income was $15,691,000 or $1.26 per diluted share compared with $17,408,000 or $1.40 per diluted share for the same period a year ago. Net cash provided by operating activities was $20,219,000 compared with $17,075,000 for the same period a year ago. Capital expenditures was $5,258,000 compared with $4,400,000 for the same period a year ago. Free cash flow was $13,841,000 compared with $13,067,000 for the same period a year ago. Net sales up 6.8% from fiscal 2013, representing the fifth consecutive year of overall annual sales growth, with mattress fabrics segment sales up 4.3%, a record year, and upholstery fabrics segment sales up 10.2% over the prior year. The board of directors has approved the payment of a special cash dividend of $0.40 per share. In addition, the board approved the payment of the company's quarterly cash dividend of $0.05 per share. Both of these payments will be made on July 15, 2014, to shareholders of record as of July 1, 2014. The company provided earnings guidance for the first quarter and capital expenditure guidance for the full year of fiscal 2015. At this time, the company expects overall sales to be up 4% to 9% as compared with the first quarter of fiscal 2014, which was a very strong first quarter of sales for both divisions. The first quarter of fiscal 2015 will have one more week than the first quarter of the prior year, or 14 weeks compared with 13 weeks. The company expects first quarter sales in mattress fabrics business to be up 8% to 13% as compared with the same period a year ago. Operating income in this segment is expected to approximate last year's level, while margins are expected to be slightly lower as compared with the same period a year ago. In upholstery fabrics business, the company expects first quarter sales to be flat to slightly higher compared with the previous year's first quarter results, which had exceptionally high sales. The company believes the upholstery fabric segment's operating income and margins will be slightly down when compared with the same quarter of last year. Considering these factors, the company expects to report pre-tax income for the first fiscal quarter of 2015 in the range of $4.8 million to $5.7 million. Pre-tax income for last year's first quarter was $5.5 million. Based on its current budget, capital expenditures for fiscal 2015 are expected to be approximately $10 million, primarily related to expansion projects for mattress fabrics. Additionally, the company expects a good year of free cash flow, even after an unusually high level of capital expenditures and modest growth in working capital. Depreciation and amortization is expected to be approximately $6 million. The company expects another year of strong gross cash flow.

Culp, Inc. to Report Q4, 2014 Results on Jun 12, 2014

Culp, Inc. announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Jun 12, 2014

 

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Industry Analysis

CFI

Industry Average

Valuation CFI Industry Range
Price/Earnings 12.7x
Price/Sales 0.8x
Price/Book 2.0x
Price/Cash Flow 12.5x
TEV/Sales 0.6x
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