Culp, Inc. Reports Earnings Results for the First Quarter Ended July 30, 2023
August 30, 2023 at 04:15 pm EDT
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Culp, Inc. reported earnings results for the first quarter ended July 30, 2023. For the first quarter, the company reported sales was USD 56.66 million compared to USD 62.6 million a year ago. Net loss was USD 3.34 million compared to USD 5.7 million a year ago.
Basic loss per share from continuing operations was USD 0.27 compared to USD 0.47 a year ago. Diluted loss per share from continuing operations was USD 0.27 compared to USD 0.47 a year ago.
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. 
