$CULP
CULP INC

2023 Q1 Form 10-Q Financial Statement

#000095017023006869 Filed on March 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $52.52M $80.29M
YoY Change -34.58% 1.2%
Cost Of Revenue $50.43M $71.18M
YoY Change -29.15% 8.67%
Gross Profit $2.093M $9.110M
YoY Change -77.03% -34.33%
Gross Profit Margin 3.98% 11.35%
Selling, General & Admin $9.165M $8.007M
YoY Change 14.46% -18.3%
% of Gross Profit 437.89% 87.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.848M $1.882M
YoY Change -1.81% 6.33%
% of Gross Profit 88.29% 20.66%
Operating Expenses $9.165M $8.007M
YoY Change 14.46% -18.3%
Operating Profit -$7.783M $1.103M
YoY Change -805.62% -72.68%
Interest Expense $196.0K $214.0K
YoY Change -8.41% 114.0%
% of Operating Profit 19.4%
Other Income/Expense, Net -$1.095M -$322.0K
YoY Change 240.06% -68.12%
Pretax Income -$8.682M $995.0K
YoY Change -972.56% -68.08%
Income Tax $286.0K $1.284M
% Of Pretax Income 129.05%
Net Earnings -$8.968M -$289.0K
YoY Change 3003.11% -113.88%
Net Earnings / Revenue -17.07% -0.36%
Basic Earnings Per Share -$0.73 -$0.02
Diluted Earnings Per Share -$0.73 -$23.67K
COMMON SHARES
Basic Shares Outstanding 12.30M 12.21M
Diluted Shares Outstanding 12.30M 12.21M

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.15M $13.53M
YoY Change 41.47% -73.62%
Cash & Equivalents $16.73M $11.78M
Short-Term Investments $2.420M $1.753M
Other Short-Term Assets $2.839M $4.419M
YoY Change -35.75% 42.55%
Inventory $47.63M $73.13M
Prepaid Expenses
Receivables $21.24M $39.00M
Other Receivables $238.0K $367.0K
Total Short-Term Assets $93.04M $130.5M
YoY Change -28.68% -12.21%
LONG-TERM ASSETS
Property, Plant & Equipment $37.19M $42.78M
YoY Change -13.06% -11.98%
Goodwill
YoY Change
Intangibles $2.346M $2.722M
YoY Change -13.81% -12.14%
Long-Term Investments $7.725M $17.90M
YoY Change -56.84% 952.94%
Other Assets $919.0K $622.0K
YoY Change 47.75% -48.17%
Total Long-Term Assets $57.56M $81.12M
YoY Change -29.04% 27.94%
TOTAL ASSETS
Total Short-Term Assets $93.04M $130.5M
Total Long-Term Assets $57.56M $81.12M
Total Assets $150.6M $211.6M
YoY Change -28.82% -0.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.57M $46.72M
YoY Change -51.7% 3.37%
Accrued Expenses $6.701M $8.446M
YoY Change -20.66% -46.54%
Deferred Revenue $1.430M $518.0K
YoY Change 176.06% 127.19%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $36.37M $59.22M
YoY Change -38.59% -5.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $14.64M $20.13M
YoY Change -27.28% 28.2%
Total Long-Term Liabilities $14.64M $20.13M
YoY Change -27.28% 28.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.37M $59.22M
Total Long-Term Liabilities $14.64M $20.13M
Total Liabilities $57.09M $84.83M
YoY Change -32.7% 1.47%
SHAREHOLDERS EQUITY
Retained Earnings $48.88M $83.15M
YoY Change -41.22%
Common Stock $44.61M $43.50M
YoY Change 2.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $93.50M $126.7M
YoY Change
Total Liabilities & Shareholders Equity $150.6M $211.6M
YoY Change -28.82% -0.2%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$8.968M -$289.0K
YoY Change 3003.11% -113.88%
Depreciation, Depletion And Amortization $1.848M $1.882M
YoY Change -1.81% 6.33%
Cash From Operating Activities -$1.584M -$11.04M
YoY Change -85.65% 951.52%
INVESTING ACTIVITIES
Capital Expenditures $551.0K -$1.387M
YoY Change -139.73% -39.17%
Acquisitions
YoY Change
Other Investing Activities -$341.0K $8.733M
YoY Change -103.9% -285.41%
Cash From Investing Activities -$892.0K $7.346M
YoY Change -112.14% -205.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -83.00K -1.515M
YoY Change -94.52% 11.4%
NET CHANGE
Cash From Operating Activities -1.584M -11.04M
Cash From Investing Activities -892.0K 7.346M
Cash From Financing Activities -83.00K -1.515M
Net Change In Cash -2.559M -5.210M
YoY Change -50.88% -44.57%
FREE CASH FLOW
Cash From Operating Activities -$1.584M -$11.04M
Capital Expenditures $551.0K -$1.387M
Free Cash Flow -$2.135M -$9.654M
YoY Change -77.88% -884.88%

Facts In Submission

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1. Basis of Presentation</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The accompanying unaudited condensed consolidated financial statements of Culp, Inc. and its majority-owned subsidiaries (the “company”) include all adjustments that are, in the opinion of management, necessary for fair presentation of the results of operations and financial position. All these adjustments are of a normal recurring nature. Results of operations for interim periods may not be indicative of future results. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements that are included in the company’s annual report on Form 10-K filed with the Securities and Exchange Commission on July 15, 2022, for the fiscal year ended May 1, 2022.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Certain amounts presented in the prior period have been reclassified to conform to the current period financial statement presentation. A non-cash charge totaling $</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1.4</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million for markdowns of inventory estimated based on our policy for aged inventory was reclassified from the line item "Inventories" to the line item "Non-cash inventory charges" in the Consolidated Statement of Cash Flows for the nine months ended January 30, 2022. This reclassification did not have an effect on previously reported net cash used in operating activities and decrease in cash and cash equivalents.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The company’s nine months ended January 29, 2023, and January 30, 2022, each represent 39-week periods.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
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WeightedAverageNumberOfDilutedSharesOutstanding
12272000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12341000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Description Of Effect On Previously Reported Segment Information For Change In Composition Of Reportable Segments
DescriptionOfEffectOnPreviouslyReportedSegmentInformationForChangeInCompositionOfReportableSegments
Intangible assets are not included in segment assets as these assets are not used by the Chief Operating Decision Maker to evaluate the respective segment’s operating performance, allocate resources to individual segments, or determine executive compensation.
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
52523000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
80291000
CY2023Q1 us-gaap Gross Profit
GrossProfit
2093000
CY2022Q1 us-gaap Gross Profit
GrossProfit
9110000
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
9165000
CY2022Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8007000
CY2023Q1 us-gaap Restructuring Charges
RestructuringCharges
711000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-7783000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1103000
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
196000
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
214000
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1095000
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-322000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8682000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
995000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
173508000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
237899000
culp Restructuring Related Charge Operating Income Loss
RestructuringRelatedChargeOperatingIncomeLoss
-98000
us-gaap Gross Profit
GrossProfit
4008000
us-gaap Gross Profit
GrossProfit
32336000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
27133000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
26275000
us-gaap Restructuring Charges
RestructuringCharges
1326000
culp Restructuring Related Charge Operating Income Loss
RestructuringRelatedChargeOperatingIncomeLoss
-98000
us-gaap Operating Income Loss
OperatingIncomeLoss
-24451000
us-gaap Operating Income Loss
OperatingIncomeLoss
6061000
us-gaap Investment Income Interest
InvestmentIncomeInterest
292000
us-gaap Investment Income Interest
InvestmentIncomeInterest
347000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-348000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-963000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-24507000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5445000
culp Capital Expenditures
CapitalExpenditures
1152000
culp Capital Expenditures
CapitalExpenditures
4973000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2300000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.095
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2600000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.484
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.293
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.269
culp Effective Income Tax Rate Reconciliation Withholding Taxes Associated With Foreign Jurisdictions
EffectiveIncomeTaxRateReconciliationWithholdingTaxesAssociatedWithForeignJurisdictions
-0.020
culp Effective Income Tax Rate Reconciliation Withholding Taxes Associated With Foreign Jurisdictions
EffectiveIncomeTaxRateReconciliationWithholdingTaxesAssociatedWithForeignJurisdictions
0.098
culp Effective Income Tax Rate Reconciliation Capital Expenditure Deduction
EffectiveIncomeTaxRateReconciliationCapitalExpenditureDeduction
-0.016
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.014
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.079
culp Effective Income Tax Rate Reconciliation Tax Effects Deductible Foreign Exchange Rate Gains Losses
EffectiveIncomeTaxRateReconciliationTaxEffectsDeductibleForeignExchangeRateGainsLosses
0.013
culp Effective Income Tax Rate Reconciliation Tax Effects Deductible Foreign Exchange Rate Gains Losses
EffectiveIncomeTaxRateReconciliationTaxEffectsDeductibleForeignExchangeRateGainsLosses
-0.010
culp Effective Income Tax Rate Reconciliation Global Intangible Low Taxed Income Tax Percent
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxedIncomeTaxPercent
0.374
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.003
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.002
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.095
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.484
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-24500000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5400000
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
18071000
CY2022Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10132000
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
11857000
culp Dividends Received Deduction Percentage For Earnings And Profits Received From Foreign Corporation
DividendsReceivedDeductionPercentageForEarningsAndProfitsReceivedFromForeignCorporation
1
culp Dividends Received Deduction Foreign Corporation Ownership Percentage
DividendsReceivedDeductionForeignCorporationOwnershipPercentage
0.10
CY2023Q1 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
4100000
CY2022Q1 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
3600000
CY2022Q2 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
3500000
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1400000
CY2023Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1200000
CY2022Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1100000
CY2022Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1100000
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1200000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1936000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3045000
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
renewal options for additional periods ranging up to twelve years
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
8913000
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16595000
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15577000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2785000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3295000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3219000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4399000
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7848000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7062000
us-gaap Operating Lease Payments
OperatingLeasePayments
1704000
us-gaap Operating Lease Payments
OperatingLeasePayments
2249000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
731000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3763000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
921000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1000000.0
us-gaap Operating Lease Cost
OperatingLeaseCost
2900000
us-gaap Operating Lease Cost
OperatingLeaseCost
2800000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
756000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2907000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1914000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
608000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
344000
CY2023Q1 culp Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
1028000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7557000
CY2023Q1 culp Interest Payable On Operating Lease Liabilities
InterestPayableOnOperatingLeaseLiabilities
373000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
7184000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y10M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0369
CY2023Q1 culp Accounts Payable Capital Expenditures Current
AccountsPayableCapitalExpendituresCurrent
25000
CY2022Q1 culp Accounts Payable Capital Expenditures Current
AccountsPayableCapitalExpendituresCurrent
33000
CY2022Q2 culp Accounts Payable Capital Expenditures Current
AccountsPayableCapitalExpendituresCurrent
473000
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1800000

Files In Submission

Name View Source Status
culp-20230129_pre.xml Edgar Link unprocessable
culp-20230129_def.xml Edgar Link unprocessable
culp-20230129_cal.xml Edgar Link unprocessable
culp-20230129_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
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culp-20230129.htm Edgar Link pending
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