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
TTM
4/30/2021
4/30/2020
4/30/2019
4/30/2018
4/30/2017
4/30/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments13,09542,50970,71345,00923,67923,23842,146
Cash and cash equivalents11,78037,00969,79040,00821,22820,79537,787
Short-term investments1,3155,5009235,0012,4512,4434,359
Receivables36737,72626,67824,52726,30724,57723,636
Inventory, net of allowances, customer advances and progress billings73,13355,91747,90750,86053,45451,48246,531
Inventory73,13355,91747,90750,86053,45451,48246,531
Other current assets4,4193,8522,1162,8492,8702,8942,477
Other undisclosed current assets39,4363,2034,271 25,759  
Total current assets:130,450143,207151,685123,245132,069102,191114,790
Noncurrent Assets
Operating lease, right-of-use asset16,59511,7303,903
Nontrade receivables   733   
Property, plant and equipment42,77844,00343,14748,38951,79451,65139,973
Long-term investments and receivables8,6771,1413,6781,50813,86237,5174,025
Long-term investments8,6771,1413,6781,50813,86237,5174,025
Intangible assets, net (including goodwill)2,7223,0043,38037,67013,56911,46211,462
Goodwill   27,22213,56911,46211,462
Intangible assets, net (excluding goodwill)2,7223,0043,38010,448   
Deferred income tax assets500545793
Other noncurrent assets6222,0356646435,2322,3942,573
Deferred tax assets, net4571,4584192,319
Other undisclosed noncurrent assets9,2238,4157,8347,081   
Total noncurrent assets:81,11770,87363,39996,48185,915103,44360,352
TOTAL ASSETS:211,567214,080215,084219,726217,984205,634175,142
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities55,37657,60829,08434,59137,99941,33536,096
Accounts payable46,69042,54023,00224,37727,23729,10123,994
Accrued liabilities8,44614,8395,6879,1929,32511,94711,922
Taxes payable2402293951,0221,437287180
Deferred revenue518540502
Debt  10,426    
Restructuring reserve   124   
Deferred revenue and credits809  
Contract with customer, liability399
Other undisclosed current liabilities3,3283,084107781,7764,767224
Total current liabilities:59,22261,23240,11935,19240,58446,10236,320
Noncurrent Liabilities
Long-term debt and lease obligation7,8486,82131,766675   
Long-term debt, excluding current maturities  29,750675   
Operating lease, liability7,8486,8212,016
Liabilities, other than long-term debt17,76317,02113,33419,27910,2669,58010,010
Accounts payable and accrued liabilities3,0993,3263,7963,2497634673,841
Deferred compensation liability, classified9,1808,3657,7206,9987,3535,5204,686
Deferred tax liabilities, net3,1762,1503,5931,483
Deferred income tax liabilities5,4845,3301,818
Business combination, contingent consideration, liability   5,856   
Other undisclosed noncurrent liabilities  1673333,7581,322 
Total noncurrent liabilities:25,61123,84245,26720,28714,02410,90210,010
Total liabilities:84,83385,07485,38655,47954,60857,00446,330
Stockholders' equity
Stockholders' equity attributable to parent126,734129,006129,698159,933163,376148,630128,812
Common stock611616615620623618614
Additional paid in capital42,89043,80742,58243,69448,20347,41543,795
Accumulated other comprehensive income (loss)88146(10)40(85)(4)(144)
Retained earnings83,14584,43786,511115,579114,635100,60184,547
Stockholders' equity attributable to noncontrolling interest   4,314   
Total stockholders' equity:126,734129,006129,698164,247163,376148,630128,812
TOTAL LIABILITIES AND EQUITY:211,567214,080215,084219,726217,984205,634175,142

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

1/31/2022
TTM
4/30/2021
4/30/2020
4/30/2019
4/30/2018
4/30/2017
4/30/2016
Revenues316,963299,720256,166296,669323,725309,544312,860
Revenue, net323,725309,544312,860
Cost of revenue
(Cost of Goods and Services Sold)
(272,830)(249,888)(215,668)(246,471)(259,092)(240,309)(247,749)
Gross profit:44,13349,83240,49850,19864,63369,23565,111
Operating expenses(36,434)(37,756)(48,136)(38,405)(37,172)(39,157)(36,773)
Other undisclosed operating income  70825   
Operating income (loss):7,69912,076(7,568)12,61827,46130,07828,338
Nonoperating income (expense)88(1,145)(5)(580)(484)(382)(440)
Investment income, nonoperating1,2021,063897766534299176
Other nonoperating expense(1,114)(2,208)(902)(1,346)(1,018)(681)(616)
Interest and debt expense (51)(106)(42)(94)  
Income (loss) from continuing operations before equity method investments, income taxes:7,78710,880(7,679)11,99626,88329,69627,898
Income (loss) from equity method investments 31(125)(114)(266)(23) 
Income (loss) from continuing operations before income taxes:7,78710,911(7,804)11,88226,61729,67327,898
Income tax expense(3,490)(7,693)(3,354)(6,424)(5,740)(7,339)(10,963)
Income (loss) from continuing operations:4,2973,218(11,158)5,45820,87722,33416,935
Loss from discontinued operations  (17,509)    
Net income (loss) attributable to parent:4,2973,218(28,667)5,45820,87722,33416,935
Other undisclosed net income available to common stockholders, basic   218   
Net income (loss) available to common stockholders, diluted:4,2973,218(28,667)5,67620,87722,33416,935

Comprehensive Income ($ in thousands)

1/31/2022
TTM
4/30/2021
4/30/2020
4/30/2019
4/30/2018
4/30/2017
4/30/2016
Net income (loss):4,2973,218(28,667)5,45820,87722,33416,935
Other comprehensive income (loss) 156(50)125   
Other undisclosed comprehensive loss(29)      
Comprehensive income (loss):4,2683,374(28,717)5,58320,87722,33416,935
Comprehensive income, net of tax, attributable to noncontrolling interest   218   
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  4,674 (81)140(49)
Comprehensive income (loss), net of tax, attributable to parent:4,2683,374(24,043)5,80120,79622,47416,886

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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