$CULP
CULP INC

2013 Q4 Form 10-Q Financial Statement

#000115752314004789 Filed on December 12, 2014

View on sec.gov

Income Statement

Concept 2013 Q4
Revenue $70.59M
YoY Change 7.67%
Cost Of Revenue $58.35M
YoY Change 8.7%
Gross Profit $12.24M
YoY Change 3.01%
Gross Profit Margin 17.33%
Selling, General & Admin $7.200M
YoY Change -0.12%
% of Gross Profit 58.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.331M
YoY Change 3.58%
% of Gross Profit 10.88%
Operating Expenses $7.200M
YoY Change -0.12%
Operating Profit $5.035M
YoY Change 7.86%
Interest Expense $99.00K
YoY Change -36.54%
% of Operating Profit 1.97%
Other Income/Expense, Net -$224.0K
YoY Change 194.74%
Pretax Income $4.814M
YoY Change 6.22%
Income Tax $1.718M
% Of Pretax Income 35.69%
Net Earnings $3.096M
YoY Change -62.55%
Net Earnings / Revenue 4.39%
Basic Earnings Per Share $0.25
Diluted Earnings Per Share $0.25
COMMON SHARES
Basic Shares Outstanding 12.18M shares
Diluted Shares Outstanding 12.39M shares

Balance Sheet

Concept 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.50M
YoY Change 6.27%
Cash & Equivalents $24.27M
Short-Term Investments $6.200M
Other Short-Term Assets $2.550M
YoY Change 55.49%
Inventory $44.88M
Prepaid Expenses
Receivables $24.94M
Other Receivables $0.00
Total Short-Term Assets $110.6M
YoY Change 17.97%
LONG-TERM ASSETS
Property, Plant & Equipment $30.56M
YoY Change -0.2%
Goodwill $11.46M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $600.0K
YoY Change
Other Assets $2.959M
YoY Change 58.4%
Total Long-Term Assets $45.64M
YoY Change -6.26%
TOTAL ASSETS
Total Short-Term Assets $110.6M
Total Long-Term Assets $45.64M
Total Assets $156.2M
YoY Change 9.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.54M
YoY Change 22.93%
Accrued Expenses $11.67M
YoY Change 10.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change -100.0%
Long-Term Debt Due $2.200M
YoY Change -8.37%
Total Short-Term Liabilities $42.79M
YoY Change 13.81%
LONG-TERM LIABILITIES
Long-Term Debt $2.200M
YoY Change -50.18%
Other Long-Term Liabilities $4.100M
YoY Change -2.38%
Total Long-Term Liabilities $2.200M
YoY Change -50.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.79M
Total Long-Term Liabilities $2.200M
Total Liabilities $54.73M
YoY Change 16.3%
SHAREHOLDERS EQUITY
Retained Earnings $58.36M
YoY Change
Common Stock $612.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $101.5M
YoY Change
Total Liabilities & Shareholders Equity $156.2M
YoY Change 9.69%

Cashflow Statement

Concept 2013 Q4
OPERATING ACTIVITIES
Net Income $3.096M
YoY Change -62.55%
Depreciation, Depletion And Amortization $1.331M
YoY Change 3.58%
Cash From Operating Activities $6.760M
YoY Change -29.66%
INVESTING ACTIVITIES
Capital Expenditures -$1.020M
YoY Change 8.51%
Acquisitions
YoY Change
Other Investing Activities -$40.00K
YoY Change 33.33%
Cash From Investing Activities -$1.060M
YoY Change 9.28%
FINANCING ACTIVITIES
Cash Dividend Paid $490.0K
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.670M
YoY Change -62.39%
NET CHANGE
Cash From Operating Activities 6.760M
Cash From Investing Activities -1.060M
Cash From Financing Activities -2.670M
Net Change In Cash 3.030M
YoY Change 96.75%
FREE CASH FLOW
Cash From Operating Activities $6.760M
Capital Expenditures -$1.020M
Free Cash Flow $7.780M
YoY Change -26.26%

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dei Document Type
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CULP INC
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CFI
dei Entity Filer Category
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<div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; MARGIN-LEFT: 0pt; DISPLAY: block; LETTER-SPACING: normal; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; DISPLAY: inline"> 1.&#xA0;&#xA0;Basis of Presentation</font></div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); TEXT-ALIGN: left; FONT: 13px 'Times New Roman'; DISPLAY: block; LETTER-SPACING: normal; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px"> <br /></div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; MARGIN-LEFT: 0pt; DISPLAY: block; LETTER-SPACING: normal; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; DISPLAY: inline">The accompanying unaudited consolidated financial statements of Culp, Inc. and subsidiaries (the &#x201C;company&#x201D;) include all adjustments, which are, in the opinion of management, necessary for fair presentation of the results of operations and financial position.&#xA0;&#xA0;All of these adjustments are of a normal recurring nature. Results of operations for interim periods may not be indicative of future results.&#xA0;&#xA0;The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements, which are included in the company&#x2019;s annual report on Form 10-K filed with the Securities and Exchange Commission on July 11, 2014 for the fiscal year ended April 27, 2014.</font></div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); TEXT-ALIGN: left; FONT: 13px 'Times New Roman'; DISPLAY: block; LETTER-SPACING: normal; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px"> <br /></div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; MARGIN-LEFT: 0pt; DISPLAY: block; LETTER-SPACING: normal; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; DISPLAY: inline">The company&#x2019;s six months ended November 2, 2014 and October 27, 2013, represent 27 and 26 week periods, respectively.</font></div> </div>
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