Culp, Inc. (CULP) Financial Statements (2024 and earlier)

Company Profile

Business Address 1823 EASTCHESTER DRIVE
HIGH POINT, NC 27265
State of Incorp. NC
Fiscal Year End April 30
Industry (SIC) 2211 - Broadwoven Fabric Mills, Cotton (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

10/31/2023
MRQ
4/30/2023
1/31/2023
MRQ
4/30/2022
4/30/2021
4/30/2020
4/30/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments20,96416,72514,55042,50970,71345,009
Cash and cash equivalents20,96416,72514,55037,00969,79040,008
Short-term investments    5,5009235,001
Receivables24,77823823,08337,72626,67824,527
Inventory, net of allowances, customer advances and progress billings45,08047,62766,55755,91747,90750,860
Inventory45,08047,62766,55755,91747,90750,860
Asset, held-for-sale, not part of disposal group  1,950    
Other current assets3,0712,8392,9863,8522,1162,849
Other undisclosed current assets1,62323,661 3,2034,271 
Total current assets:95,51693,040107,176143,207151,685123,245
Noncurrent Assets
Operating lease, right-of-use asset8,1918,91315,57711,7303,903
Nontrade receivables      733
Property, plant and equipment36,11137,19241,70244,00343,14748,389
Long-term investments and receivables    1,1413,6781,508
Long-term investments    1,1413,6781,508
Intangible assets, net (including goodwill)2,2522,3462,6283,0043,38037,670
Goodwill      27,222
Intangible assets, net (excluding goodwill)2,2522,3462,6283,0043,38010,448
Deferred income tax assets480463528545793
Other noncurrent assets8409195952,035664643
Deferred tax assets, net457
Other undisclosed noncurrent assets8,7937,7259,3578,4157,8347,081
Total noncurrent assets:56,66757,55870,38770,87363,39996,481
TOTAL ASSETS:152,183150,598177,563214,080215,084219,726
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities37,97529,24128,34457,60829,08434,591
Taxes payable4132293951,022
Accounts payable29,44222,54020,09942,54023,00224,377
Accrued liabilities8,5336,7017,83214,8395,6879,192
Deferred revenue1,1921,430520540502
Debt     10,426 
Deferred compensation liability1,4042,420    
Restructuring reserve      124
Contract with customer, liability399
Other undisclosed current liabilities3,4493,2773,6923,08410778
Total current liabilities:44,02036,36832,55661,23240,11935,192
Noncurrent Liabilities
Long-term debt and lease obligation   7,0626,82131,766675
Long-term debt, excluding current maturities     29,750675
Liabilities, other than long-term debt19,08320,72618,44417,02113,33419,279
Accounts payable and accrued liabilities2,6752,6483,0973,3263,7963,249
Deferred compensation liability, classified6,8427,5909,3438,3657,7206,998
Deferred tax liabilities, net3,176
Deferred income tax liabilities5,9546,0896,0045,3301,818
Operating lease, liability3,6124,3997,0626,8212,016
Business combination, contingent consideration, liability      5,856
Other undisclosed noncurrent liabilities     167333
Total noncurrent liabilities:19,08320,72625,50623,84245,26720,287
Total liabilities:63,10357,09458,06285,07485,38655,479
Equity
Equity, attributable to parent89,08093,504119,501129,006129,698159,933
Common stock616616611616615620
Additional paid in capital44,25043,99243,14343,80742,58243,694
Accumulated other comprehensive income (loss)192132146(10)40
Retained earnings44,19548,87575,71584,43786,511115,579
Equity, attributable to noncontrolling interest      4,314
Total equity:89,08093,504119,501129,006129,698164,247
TOTAL LIABILITIES AND EQUITY:152,183150,598177,563214,080215,084219,726

Income Statement (P&L) ($ in thousands)

10/31/2023
TTM
4/30/2023
1/31/2023
TTM
4/30/2022
4/30/2021
4/30/2020
4/30/2019
Revenues234,934230,448294,839299,720256,166296,669
Cost of revenue
(Cost of Goods and Services Sold)
(224,038)(222,683)(258,746)(249,888)(215,668)(246,471)
Gross profit:10,8967,76536,09349,83240,49850,198
Operating expenses(39,374)(37,600)(35,415)(37,756)(48,136)(38,405)
Other undisclosed operating income     70825
Operating income (loss):(28,478)(29,835)67812,076(7,568)12,618
Nonoperating income (expense)88(558)(1,118)(1,145)(5)(580)
Investment income, nonoperating5313183731,063897766
Loss, foreign currency transaction, before tax  (132)(132)   
Other nonoperating expense(443)(744)(1,359)(2,208)(902)(1,346)
Interest and debt expense   (17)(51)(106)(42)
Other undisclosed income from continuing operations before equity method investments, income taxes  115132   
Income (loss) from continuing operations before equity method investments, income taxes:(28,390)(30,278)(325)10,880(7,679)11,996
Income (loss) from equity method investments    31(125)(114)
Income (loss) from continuing operations before income taxes:(28,390)(30,278)(325)10,911(7,804)11,882
Income tax expense(3,130)(2,585)(2,886)(7,693)(3,354)(6,424)
Income (loss) from continuing operations:(31,520)(32,863)(3,211)3,218(11,158)5,458
Income (loss) before gain (loss) on sale of properties:(23,895)(3,211)3,218(28,667)5,458
Loss from discontinued operations     (17,509) 
Net income (loss) attributable to parent:(31,520)(32,863)(3,211)3,218(28,667)5,458
Other undisclosed net income available to common stockholders, basic      218
Net income (loss) available to common stockholders, diluted:(31,520)(32,863)(3,211)3,218(28,667)5,676

Comprehensive Income ($ in thousands)

10/31/2023
TTM
4/30/2023
1/31/2023
TTM
4/30/2022
4/30/2021
4/30/2020
4/30/2019
Net income (loss):(31,520)(32,863)(3,211)3,218(28,667)5,458
Other comprehensive income (loss)    156(50)125
Other undisclosed comprehensive income (loss)(13)(67)(114)   
Comprehensive income (loss):(31,533)(32,930)(3,325)3,374(28,717)5,583
Comprehensive income, net of tax, attributable to noncontrolling interest      218
Other undisclosed comprehensive income, net of tax, attributable to parent     4,674 
Comprehensive income (loss), net of tax, attributable to parent:(31,533)(32,930)(3,325)3,374(24,043)5,801

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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