Company: CULP
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0000950170-25-035191
Chunk: 4

Company: CULP INC
Filing Date: 2025-03-07
Form: 10-Q
Item: Item 1
Chunk 4
---

    Inventories

    (2,730
    )

    —

    Other current assets

    737

    (1,190
    )

    Other assets

    98

    (107
    )

    Accounts payable – trade

    7,184

    963

    Deferred revenue

    (798
    )

    606

    Accrued restructuring

    753

    —

    Accrued expenses and deferred compensation

    (335
    )

    (1,437
    )

    Income taxes

    (1,613
    )

    (719
    )

    Net cash used in operating activities

    (9,425
    )

    (5,970
    )

    Cash flows from investing activities:

    Capital expenditures

    (2,440
    )

    (3,249
    )

    Proceeds from the sale of equipment

    1,450

    363

    Proceeds from note receivable

    270

    240

    Proceeds from the sale of investments (rabbi trust)

    699

    1,224

    Purchase of investments (rabbi trust)

    (599
    )

    (704
    )

    Net cash used in investing activities

    (620
    )

    (2,126
    )

    Cash flows from financing activities:

    Procceds from lines credit

    7,898

    —

    Payments on lines of credit

    (2,500
    )

    —

    Common stock surrendered for withholding taxes payable

    (68
    )

    (146
    )

    Net cash provided by (used in) financing activities

    5,330

    (146
    )

    Effect of exchange rate changes on cash and cash equivalents

    (18
    )

    (137
    )

    Decrease in cash and cash equivalents

    (4,733
    )

    (8,379
    )

    Cash and cash equivalents at beginning of year

    10,012

    20,964

    Cash and cash equivalents at end of period
     
    $
    5,279

    12,585

See accompanying notes to consolidated financial statements.

I-5

CULP, INC.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

FOR THE NINE MONTHS ENDED JANUARY 26, 202