Company: CULP
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0000950170-25-035191
Chunk: 3

Company: CULP INC
Filing Date: 2025-03-07
Form: 10-Q
Item: Item 1
Chunk 3
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and outstanding 12,559,129 at January 26, 2025; 12,469,903 at January 28, 2024,   and 12,469,903 at April 28, 2024

    628

    624

    624

    Capital contributed in excess of par value

    45,461

    44,843

    45,011

    Accumulated earnings

    13,345

    35,241

    30,376

    Accumulated other comprehensive income

    216

    88

    118

    Total shareholders' equity

    59,650

    80,796

    76,129

    Total liabilities and shareholders' equity
     
    $
    127,555

    $
    141,998

    $
    132,054

* Derived from audited consolidated financial statements.

See accompanying notes to consolidated financial statements.

I-4

CULP, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED JANUARY 26, 2025, AND JANUARY 28, 2024

UNAUDITED

(Amounts in Thousands)

    NINE MONTHS ENDED

    January 26,

    January 28,

    2025

    2024

    Cash flows from operating activities:

    Net loss
     
    $
    (17,031
    )
     
    $
    (8,954
    )

    Adjustments to reconcile net loss to net cash used in      operating activities:

    Depreciation

    4,288

    4,897

    Non-cash inventory credit

    (1,022
    )

    (1,978
    )

    Amortization

    301

    291

    Stock-based compensation

    522

    747

    Deferred income taxes

    231

    172

    Gain on sale of equipment

    (27
    )

    (284
    )

    Non-cash restructuring expenses

    2,143

    330

    Foreign currency exchange loss (gain)

    (97
    )

    (347
    )

    Changes in assets and liabilities:

    Accounts receivable

    (2,029
    )

    1,040