Culp, Inc. Provides Consolidated Earnings Guidance for the Third Quarter and Fourth Quarter of Fiscal Year 2022
December 01, 2021 at 04:15 pm EST
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Culp, Inc. provided consolidated earnings guidance for the third quarter and fourth quarter of fiscal year 2022. The company?s net sales and consolidated operating income (income from operations) for the third quarter of fiscal 2022 are expected to be sequentially comparable to the second quarter of fiscal 2022.
The company expects a strong improvement in net sales and operating income for the fourth quarter of fiscal 2022, as compared to both the third quarter of fiscal 2022 and the fourth quarter of fiscal 2021.
Culp, Inc. is a marketer of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture. The Company markets a variety of fabrics to its global customer base of bedding and furniture companies, including fabrics produced at the Company's manufacturing facilities and fabrics sourced through other suppliers. The Company operates through two segments. The mattress fabrics segment markets primarily knitted and woven fabrics, as well as sewn covers made from those fabrics, which are used in the production of bedding products, including mattresses, foundations, and mattress sets. The upholstery fabrics segment markets a variety of fabric products that are used principally in the production of residential and commercial upholstered furniture, including sofas, recliners, chairs, loveseats, sectionals, sofa-beds, and office seating, as well as window treatment products and installation services for customers in the hospitality and commercial industries.
CULP, INC. 