Company: CULP
Filing Date: 2025-06-25
Form Type: 8-K
Source: 0000950170-25-089974
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Company: CULP INC
Filing Date: 2025-06-25
Form: 8-K
Item: Item 2.02
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Item 2.02 Results of Operations and Financial Condition.

On June 25, 2025, we issued a news release to announce our financial results for our fourth quarter and fiscal year ended April 27, 2025. A copy of the news release is attached hereto as Exhibit 99.1.

The information set forth in this Item 2.02 of this Current Report, and in Exhibit 99.1, is intended to be “furnished” under Item 2.02 of Form 8-K. Such information shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

The news release contains adjusted income statement information for the three and 12 month periods ended April 27, 2025, and April 28, 2024, respectively, which disclose adjusted loss from operations, a non-U. S. GAAP performance measure that eliminates items which are not expected to occur on a recurring or regular basis. For the three and 12 month periods ended April 27, 2025, and April 28, 2024, these items include, as applicable for the period presented, restructuring related charges and restructuring expense associated with the gradual discontinuation of the mattress fabrics manufacturing operations in Quebec, Canada, the process of selling the facility located in Quebec, Canada, and the relocation of certain equipment from Quebec, Canada, to Stokesdale, North Carolina; restructuring expense associated with consolidation of the mattress fabrics sewn cover operation in Haiti from two buildings into one building; restructuring expense associated with moving equipment from our upholstery fabrics operation located in Knoxville, Tennessee, to our upholstery fabrics distribution center located in Burlington, North Carolina; and restructuring expense associated with the rationalization of the upholstery fabrics finishing operation located in Shanghai, China. For the three and 12 month periods ended April 27, 2025, these items include, as applicable for the period presented, restructuring-related credits, restructuring related charges, and restructuring expense associated with the discontinued production of cut and sewn upholstery kits in Ouanaminthe, Haiti. The company has included this adjusted information in order to show operational performance excluding the effects of items not expected to occur on a recurring or regular basis. Details of these calculations and a reconciliation to information from our U.