$CULP
CULP INC

2017 Q1 Form 10-Q Financial Statement

#000115752317000777 Filed on March 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $76.17M $78.47M
YoY Change -2.93% -3.45%
Cost Of Revenue $59.41M $61.90M
YoY Change -4.03% -7.42%
Gross Profit $16.76M $16.56M
YoY Change 1.18% 15.0%
Gross Profit Margin 22.0% 21.11%
Selling, General & Admin $9.824M $9.337M
YoY Change 5.22% 11.49%
% of Gross Profit 58.62% 56.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.793M $1.705M
YoY Change 5.16% 19.06%
% of Gross Profit 10.7% 10.29%
Operating Expenses $9.824M $9.337M
YoY Change 5.22% 11.49%
Operating Profit $6.935M $7.226M
YoY Change -4.03% 19.89%
Interest Expense $100.0K $0.00
YoY Change -100.0%
% of Operating Profit 1.44% 0.0%
Other Income/Expense, Net -$69.00K -$85.00K
YoY Change -18.82% -72.31%
Pretax Income $6.990M $7.179M
YoY Change -2.63% 21.23%
Income Tax $643.0K $2.317M
% Of Pretax Income 9.2% 32.27%
Net Earnings $6.347M $4.862M
YoY Change 30.54% 27.54%
Net Earnings / Revenue 8.33% 6.2%
Basic Earnings Per Share $0.52 $0.39
Diluted Earnings Per Share $0.51 $0.39
COMMON SHARES
Basic Shares Outstanding 12.31M shares 12.33M shares
Diluted Shares Outstanding 12.54M shares 12.49M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.10M $36.00M
YoY Change -49.72% -3.23%
Cash & Equivalents $15.66M $31.71M
Short-Term Investments $2.400M $4.300M
Other Short-Term Assets $2.514M $2.331M
YoY Change 7.85% -22.09%
Inventory $46.19M $48.49M
Prepaid Expenses
Receivables $22.73M $26.78M
Other Receivables $0.00 $0.00
Total Short-Term Assets $89.50M $113.6M
YoY Change -21.21% 4.18%
LONG-TERM ASSETS
Property, Plant & Equipment $50.33M $38.16M
YoY Change 31.91% 8.19%
Goodwill $11.46M $11.46M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $600.0K $3.900M
YoY Change -84.62% 62.5%
Other Assets $2.417M $2.435M
YoY Change -0.74% -2.79%
Total Long-Term Assets $101.6M $59.96M
YoY Change 69.38% 6.46%
TOTAL ASSETS
Total Short-Term Assets $89.50M $113.6M
Total Long-Term Assets $101.6M $59.96M
Total Assets $191.1M $173.6M
YoY Change 10.09% 4.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.20M $26.00M
YoY Change 4.62% -11.56%
Accrued Expenses $10.51M $12.69M
YoY Change -17.17% 27.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $37.97M $39.29M
YoY Change -3.38% -6.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.900M $8.000M
YoY Change -1.25% 5.26%
Total Long-Term Liabilities $7.900M $8.000M
YoY Change -1.25% 5.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.97M $39.29M
Total Long-Term Liabilities $7.900M $8.000M
Total Liabilities $48.74M $48.48M
YoY Change 0.55% -3.79%
SHAREHOLDERS EQUITY
Retained Earnings $95.39M $81.80M
YoY Change 16.61% 14.3%
Common Stock $46.98M $613.0K
YoY Change 7563.95% 0.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $142.3M $125.1M
YoY Change
Total Liabilities & Shareholders Equity $191.1M $173.6M
YoY Change 10.09% 4.95%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $6.347M $4.862M
YoY Change 30.54% 27.54%
Depreciation, Depletion And Amortization $1.793M $1.705M
YoY Change 5.16% 19.06%
Cash From Operating Activities $7.660M $4.680M
YoY Change 63.68% -24.03%
INVESTING ACTIVITIES
Capital Expenditures -$2.940M -$2.430M
YoY Change 20.99% -21.61%
Acquisitions
YoY Change
Other Investing Activities -$1.030M $1.540M
YoY Change -166.88% -177.78%
Cash From Investing Activities -$3.970M -$890.0K
YoY Change 346.07% -82.48%
FINANCING ACTIVITIES
Cash Dividend Paid $985.0K $864.0K
YoY Change 14.0% 17.87%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.010M -3.260M
YoY Change -38.34% 346.58%
NET CHANGE
Cash From Operating Activities 7.660M 4.680M
Cash From Investing Activities -3.970M -890.0K
Cash From Financing Activities -2.010M -3.260M
Net Change In Cash 1.680M 530.0K
YoY Change 216.98% 51.43%
FREE CASH FLOW
Cash From Operating Activities $7.660M $4.680M
Capital Expenditures -$2.940M -$2.430M
Free Cash Flow $10.60M $7.110M
YoY Change 49.09% -23.22%

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