Company: CULP
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0000950170-25-035191
Chunk: 1

Company: CULP INC
Filing Date: 2025-03-07
Form: 10-Q
Item: Item 1
Chunk 1
---
 $
    (3,094
    )

    NINE MONTHS ENDED

    January 26,

    January 28,

    2025

    2024

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

    Unrealized holding gain on investments, net of tax

    98

    69

    Comprehensive loss
     
    $
    (16,933
    )
     
    $
    (8,885
    )

See accompanying notes to consolidated financial statements.

I-3

CULP, INC.

CONSOLIDATED BALANCE SHEETS

JANUARY 26, 2025,  JANUARY 28, 2024, AND APRIL 28, 2024

UNAUDITED

(Amounts in Thousands)

    January  26,

    January 28,

    April 28,

    2025

    2024

    2024*

    Current assets:

    Cash and cash equivalents
     
    $
    5,279

    $
    12,585

    $
    10,012

    Short-term investments - rabbi trust

    1,753

    937

    903

    Accounts receivable, net

    23,159

    23,686

    21,138

    Inventories

    48,599

    46,877

    44,843

    Short-term notes receivable

    526

    260

    264

    Current income taxes receivable

    1,137

    476

    350

    Assets held for sale

    2,214

    —

    —

    Other current assets

    2,619

    4,237

    3,371

    Total current assets

    85,286

    89,058

    80,881

    Property, plant and equipment, net

    25,939

    34,021

    33,182

    Right of use assets

    6,103

    6,952

    6,203

    Intangible assets

    1,594

    1,970

    1,876

    Long-term investments - rabbi trust

    6,250

    7