Culp, Inc. (CULP) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in thousands)

1/31/2022
Q3
10/31/2021
Q2
7/31/2021
Q1
4/30/2021
Q4
1/31/2021
Q3
10/31/2020
Q2
7/31/2020
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments13,09518,52035,76142,50941,48750,78840,969
Cash and cash equivalents11,78016,95626,06137,00935,98745,28839,986
Short-term investments1,3151,5649,7005,5005,5005,500983
Receivables36761352437,72636,39732,96030,675
Inventory, net of allowances, customer advances and progress billings73,13363,78158,61355,91757,79447,72640,402
Inventory73,13363,78158,61355,91757,79447,72640,402
Other current assets4,4193,8113,8893,8523,1163,5093,547
Other undisclosed current assets39,43642,02536,6673,2039,8334,9675,092
Total current assets:130,450128,750135,454143,207148,627139,950120,685
Noncurrent Assets
Operating lease, right-of-use asset16,59513,64911,44711,7306,2066,1656,443
Property, plant and equipment42,77843,26543,93044,00342,38541,59942,051
Long-term investments and receivables8,6778,3536,6291,1412,2352,6183,073
Long-term investments8,6778,3536,6291,1412,2352,6183,073
Intangible assets, net (including goodwill)2,7222,8162,9103,0043,0983,1923,286
Intangible assets, net (excluding goodwill)2,7222,8162,9103,0043,0983,1923,286
Deferred income tax assets500452455545640645593
Other noncurrent assets6223,0042,5822,035555547540
Other undisclosed noncurrent assets9,2239,0368,8418,4158,2328,0607,916
Total noncurrent assets:81,11780,57576,79470,87363,35162,82663,902
TOTAL ASSETS:211,567209,325212,248214,080211,978202,776184,587
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities55,37652,19055,48857,60859,64951,34434,211
Accounts payable46,69040,52545,28542,54044,94638,24725,746
Accrued liabilities8,44611,0199,95014,83913,57411,6847,852
Taxes payable2406462532291,1291,413613
Deferred revenue518679694540228375685
Other undisclosed current liabilities3,3283,0542,7753,0842,5132,3842,720
Total current liabilities:59,22255,92358,95761,23262,39054,10337,616
Noncurrent Liabilities
Long-term debt and lease obligation7,8487,9146,6656,8214,1794,0084,214
Operating lease, liability7,8487,9146,6656,8214,1794,0084,214
Liabilities, other than long-term debt17,76317,03417,07717,02117,04717,41416,771
Accounts payable and accrued liabilities3,0993,0993,3653,3263,3253,3253,591
Deferred compensation liability, classified9,1809,0178,7958,3658,1798,0007,869
Deferred income tax liabilities5,4844,9184,9175,3305,5436,0895,311
Other undisclosed noncurrent liabilities      117
Total noncurrent liabilities:25,61124,94823,74223,84221,22621,42221,102
Total liabilities:84,83380,87182,69985,07483,61675,52558,718
Stockholders' equity
Stockholders' equity attributable to parent126,734128,454129,549129,006128,362127,251125,869
Common stock611611614616615615615
Additional paid in capital42,89042,71943,31043,80743,32343,03142,708
Accumulated other comprehensive income882852941461172659
Retained earnings83,14584,83985,33184,43784,30783,57982,487
Total stockholders' equity:126,734128,454129,549129,006128,362127,251125,869
TOTAL LIABILITIES AND EQUITY:211,567209,325212,248214,080211,978202,776184,587

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

1/31/2022
Q3
10/31/2021
Q2
7/31/2021
Q1
4/30/2021
Q4
1/31/2021
Q3
10/31/2020
Q2
7/31/2020
Q1
Revenues80,29174,56183,04779,06479,34176,85164,464
Cost of revenue
(Cost of Goods and Services Sold)
(71,181)(63,834)(70,548)(67,267)(65,469)(62,590)(54,563)
Gross profit:9,11010,72712,49911,79713,87214,2619,901
Operating expenses(8,007)(9,087)(9,181)(10,159)(9,835)(9,743)(8,018)
Operating income:1,1031,6403,3181,6384,0374,5181,883
Nonoperating income (expense)(108)(345)(163)704(920)(621)(308)
Investment income, nonoperating2145974855905958
Other nonoperating expense(322)(404)(237)(151)(1,010)(680)(366)
Interest and debt expense      (51)
Income from continuing operations before equity method investments, income taxes:9951,2953,1552,3423,1173,8971,524
Income (loss) from equity method investments    (136)10067
Income from continuing operations before income taxes:9951,2953,1552,3422,9813,9971,591
Income tax expense(1,284)(444)(905)(857)(899)(1,613)(4,324)
Net income (loss) available to common stockholders, diluted:(289)8512,2501,4852,0822,384(2,733)

Comprehensive Income ($ in thousands)

1/31/2022
Q3
10/31/2021
Q2
7/31/2021
Q1
4/30/2021
Q4
1/31/2021
Q3
10/31/2020
Q2
7/31/2020
Q1
Net income (loss):(289)8512,2501,4852,0822,384(2,733)
Other undisclosed comprehensive income (loss)(197)(9)1482991(33)69
Comprehensive income (loss), net of tax, attributable to parent:(486)8422,3981,5142,1732,351(2,664)

Statements sources

The financial statements are based on the company's filings with the 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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