$CULP
CULP INC

2016 Q4 Form 10-Q Financial Statement

#000115752317003210 Filed on December 08, 2017

View on sec.gov

Income Statement

Concept 2016 Q4
Revenue $75.34M
YoY Change -2.1%
Cost Of Revenue $58.44M
YoY Change -4.54%
Gross Profit $16.90M
YoY Change 7.42%
Gross Profit Margin 22.43%
Selling, General & Admin $9.602M
YoY Change 1.79%
% of Gross Profit 56.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.751M
YoY Change 7.49%
% of Gross Profit 10.36%
Operating Expenses $9.602M
YoY Change 1.79%
Operating Profit $7.299M
YoY Change 15.86%
Interest Expense $0.00
YoY Change -100.0%
% of Operating Profit 0.0%
Other Income/Expense, Net -$155.0K
YoY Change -31.11%
Pretax Income $7.159M
YoY Change 16.52%
Income Tax $2.684M
% Of Pretax Income 37.49%
Net Earnings $4.475M
YoY Change 18.67%
Net Earnings / Revenue 5.94%
Basic Earnings Per Share $0.36
Diluted Earnings Per Share $0.36
COMMON SHARES
Basic Shares Outstanding 12.31M shares
Diluted Shares Outstanding 12.51M shares

Balance Sheet

Concept 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.30M
YoY Change -56.53%
Cash & Equivalents $13.91M
Short-Term Investments $2.400M
Other Short-Term Assets $1.675M
YoY Change -35.92%
Inventory $45.95M
Prepaid Expenses
Receivables $19.04M
Other Receivables $0.00
Total Short-Term Assets $83.01M
YoY Change -24.52%
LONG-TERM ASSETS
Property, Plant & Equipment $45.54M
YoY Change 18.84%
Goodwill $11.46M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $36.40M
YoY Change 911.11%
Other Assets $2.495M
YoY Change 0.04%
Total Long-Term Assets $96.12M
YoY Change 63.0%
TOTAL ASSETS
Total Short-Term Assets $83.01M
Total Long-Term Assets $96.12M
Total Assets $179.1M
YoY Change 6.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.20M
YoY Change -12.45%
Accrued Expenses $8.878M
YoY Change -10.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.57M
YoY Change -11.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $8.900M
YoY Change 9.88%
Total Long-Term Liabilities $8.900M
YoY Change 9.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.57M
Total Long-Term Liabilities $8.900M
Total Liabilities $43.18M
YoY Change -6.08%
SHAREHOLDERS EQUITY
Retained Earnings $90.03M
YoY Change 15.71%
Common Stock $45.96M
YoY Change 7337.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $135.9M
YoY Change
Total Liabilities & Shareholders Equity $179.1M
YoY Change 6.03%

Cashflow Statement

Concept 2016 Q4
OPERATING ACTIVITIES
Net Income $4.475M
YoY Change 18.67%
Depreciation, Depletion And Amortization $1.751M
YoY Change 7.49%
Cash From Operating Activities $11.30M
YoY Change 11.44%
INVESTING ACTIVITIES
Capital Expenditures -$3.170M
YoY Change 65.1%
Acquisitions
YoY Change
Other Investing Activities -$31.42M
YoY Change 11121.43%
Cash From Investing Activities -$34.59M
YoY Change 1472.27%
FINANCING ACTIVITIES
Cash Dividend Paid $862.0K
YoY Change 16.33%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.310M
YoY Change 189.55%
NET CHANGE
Cash From Operating Activities 11.30M
Cash From Investing Activities -34.59M
Cash From Financing Activities -8.310M
Net Change In Cash -31.60M
YoY Change -723.27%
FREE CASH FLOW
Cash From Operating Activities $11.30M
Capital Expenditures -$3.170M
Free Cash Flow $14.47M
YoY Change 19.98%

Facts In Submission

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CULP INC
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<div> <div style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"> 1.&#xA0; Basis of Presentation</div> <div><br /></div> <div style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: justify"> 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. All of these adjustments are of a normal recurring nature. Results of operations for interim periods may not be indicative of future results. 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 14, 2017, for the fiscal year ended April 30, 2017.</div> <div><br /></div> <div style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: justify"> The company&#x2019;s six months ended October 29, 2017, and October 30, 2016, represent 26 week periods, respectively.</div> </div>
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