2022 Q1 Form 10-Q Financial Statement
#000156459022009749 Filed on March 11, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q3 |
|---|---|---|---|
| Revenue | $80.29M | $74.56M | $83.05M |
| YoY Change | 1.2% | -2.98% | 28.83% |
| Cost Of Revenue | $71.18M | $63.83M | $70.55M |
| YoY Change | 8.67% | 1.97% | 29.21% |
| Gross Profit | $9.110M | $10.73M | $12.50M |
| YoY Change | -34.33% | -24.78% | 26.24% |
| Gross Profit Margin | 11.35% | 14.39% | 15.05% |
| Selling, General & Admin | $8.007M | $9.087M | $9.181M |
| YoY Change | -18.3% | -6.32% | 14.76% |
| % of Gross Profit | 87.89% | 84.71% | 73.45% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $1.882M | $1.891M | $1.726M |
| YoY Change | 6.33% | 2.77% | -5.27% |
| % of Gross Profit | 20.66% | 17.63% | 13.81% |
| Operating Expenses | $8.007M | $9.087M | $9.181M |
| YoY Change | -18.3% | -6.32% | 14.76% |
| Operating Profit | $1.103M | $1.640M | $3.318M |
| YoY Change | -72.68% | -63.7% | 76.21% |
| Interest Expense | $214.0K | $59.00K | $74.00K |
| YoY Change | 114.0% | -41.0% | 45.1% |
| % of Operating Profit | 19.4% | 3.6% | 2.23% |
| Other Income/Expense, Net | -$322.0K | -$404.0K | -$237.0K |
| YoY Change | -68.12% | -40.59% | -35.25% |
| Pretax Income | $995.0K | $1.295M | $3.155M |
| YoY Change | -68.08% | -66.77% | 107.02% |
| Income Tax | $1.284M | $444.0K | $905.0K |
| % Of Pretax Income | 129.05% | 34.29% | 28.68% |
| Net Earnings | -$289.0K | $851.0K | $2.250M |
| YoY Change | -113.88% | -64.3% | -182.33% |
| Net Earnings / Revenue | -0.36% | 1.14% | 2.71% |
| Basic Earnings Per Share | -$0.02 | $0.07 | $0.18 |
| Diluted Earnings Per Share | -$23.67K | $0.07 | $0.18 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 12.21M | 12.22M | 12.31M |
| Diluted Shares Outstanding | 12.21M | 12.32M | 12.42M |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q3 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $13.53M | $28.23M | $37.42M |
| YoY Change | -73.62% | -44.38% | -8.66% |
| Cash & Equivalents | $11.78M | $16.96M | $26.06M |
| Short-Term Investments | $1.753M | $11.27M | $11.36M |
| Other Short-Term Assets | $4.419M | $3.811M | $3.889M |
| YoY Change | 42.55% | 8.61% | 9.64% |
| Inventory | $73.13M | $63.78M | $58.61M |
| Prepaid Expenses | |||
| Receivables | $39.00M | $32.32M | $35.01M |
| Other Receivables | $367.0K | $613.0K | $524.0K |
| Total Short-Term Assets | $130.5M | $128.8M | $135.5M |
| YoY Change | -12.21% | -8.0% | 12.24% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $42.78M | $43.27M | $43.93M |
| YoY Change | -11.98% | 4.0% | 4.47% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | $2.722M | $2.816M | $2.910M |
| YoY Change | -12.14% | -11.78% | -11.44% |
| Long-Term Investments | $17.90M | $17.39M | $15.47M |
| YoY Change | 952.94% | 815.21% | 759.44% |
| Other Assets | $622.0K | $3.004M | $2.582M |
| YoY Change | -48.17% | 449.18% | 378.15% |
| Total Long-Term Assets | $81.12M | $80.58M | $76.79M |
| YoY Change | 27.94% | 28.25% | 20.17% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $130.5M | $128.8M | $135.5M |
| Total Long-Term Assets | $81.12M | $80.58M | $76.79M |
| Total Assets | $211.6M | $209.3M | $212.2M |
| YoY Change | -0.2% | 3.23% | 14.99% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $46.72M | $40.70M | $45.33M |
| YoY Change | 3.37% | 6.27% | 73.69% |
| Accrued Expenses | $8.446M | $11.02M | $9.950M |
| YoY Change | -46.54% | -5.69% | 25.95% |
| Deferred Revenue | $518.0K | $679.0K | $694.0K |
| YoY Change | 127.19% | 81.07% | 1.31% |
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $59.22M | $55.92M | $58.96M |
| YoY Change | -5.09% | 3.36% | 56.73% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $20.13M | $20.03M | $18.83M |
| YoY Change | 28.2% | 30.92% | 19.15% |
| Total Long-Term Liabilities | $20.13M | $20.03M | $18.83M |
| YoY Change | 28.2% | 30.92% | 19.15% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $59.22M | $55.92M | $58.96M |
| Total Long-Term Liabilities | $20.13M | $20.03M | $18.83M |
| Total Liabilities | $84.83M | $80.87M | $82.70M |
| YoY Change | 1.47% | 7.08% | 40.84% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $83.15M | $84.84M | $85.33M |
| YoY Change | 1.51% | 3.45% | |
| Common Stock | $43.50M | $43.33M | $43.92M |
| YoY Change | -0.72% | 1.39% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $126.7M | $128.5M | $129.5M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $211.6M | $209.3M | $212.2M |
| YoY Change | -0.2% | 3.23% | 14.99% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q3 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$289.0K | $851.0K | $2.250M |
| YoY Change | -113.88% | -64.3% | -182.33% |
| Depreciation, Depletion And Amortization | $1.882M | $1.891M | $1.726M |
| YoY Change | 6.33% | 2.77% | -5.27% |
| Cash From Operating Activities | -$11.04M | -$2.899M | $1.571M |
| YoY Change | 951.52% | -123.92% | -85.15% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$1.387M | -$1.948M | -$1.953M |
| YoY Change | -39.17% | 26.49% | 290.6% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $8.733M | -$1.881M | -$8.440M |
| YoY Change | -285.41% | -53.21% | 3416.67% |
| Cash From Investing Activities | $7.346M | -$3.829M | -$10.39M |
| YoY Change | -205.09% | -31.13% | 1312.09% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | $1.356M | ||
| YoY Change | 5.03% | ||
| Common Stock Issuance & Retirement, Net | $723.0K | ||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -1.515M | -2.372M | -2.129M |
| YoY Change | 11.4% | 79.7% | -94.64% |
| NET CHANGE | |||
| Cash From Operating Activities | -11.04M | -2.899M | 1.571M |
| Cash From Investing Activities | 7.346M | -3.829M | -10.39M |
| Cash From Financing Activities | -1.515M | -2.372M | -2.129M |
| Net Change In Cash | -5.210M | -9.100M | -10.95M |
| YoY Change | -44.57% | -273.66% | -63.27% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$11.04M | -$2.899M | $1.571M |
| Capital Expenditures | -$1.387M | -$1.948M | -$1.953M |
| Free Cash Flow | -$9.654M | -$951.0K | $3.524M |
| YoY Change | -884.88% | -106.96% | -68.2% |
Facts In Submission
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| CY2020Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
129698000 | |
| CY2020Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-2733000 | |
| CY2020Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
126000 | |
| CY2020Q3 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
69000 | |
| CY2020Q3 | us-gaap |
Dividends Cash
DividendsCash
|
1291000 | |
| CY2020Q4 | us-gaap |
Profit Loss
ProfitLoss
|
2384000 | |
| CY2020Q4 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
348000 | |
| CY2020Q4 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
-33000 | |
| CY2020Q4 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
25000 | |
| CY2021Q1 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
79786000 | |
| CY2022Q1 | culp |
Business Acquisitions Pro Forma Operating Income Loss From Continuing Operations
BusinessAcquisitionsProFormaOperatingIncomeLossFromContinuingOperations
|
1103000 | |
| CY2021Q1 | culp |
Business Acquisitions Pro Forma Operating Income Loss From Continuing Operations
BusinessAcquisitionsProFormaOperatingIncomeLossFromContinuingOperations
|
3766000 | |
| CY2022Q1 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
-289000 | |
| CY2020Q4 | us-gaap |
Dividends Cash
DividendsCash
|
1292000 | |
| CY2020Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
127251000 | |
| CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
2082000 | |
| CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
292000 | |
| CY2021Q1 | us-gaap |
Dividends Cash
DividendsCash
|
1354000 | |
| CY2021Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
128362000 | |
| us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">1. Basis of Presentation</p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying unaudited condensed consolidated financial statements of Culp, Inc., and its majority-owned subsidiaries (the “company”) include all adjustments, which 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, which are included in the company’s annual report on Form 10-K filed with the Securities and Exchange Commission on July 16, 2021, for the fiscal year ended May 2, 2021.</p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The company’s nine-month periods ended January 30, 2022, and January 31, 2021, each represent 39-week periods. </p> | ||
| CY2022Q1 | culp |
Net Sales Related To Inventory Shipment In Supply Agreement
NetSalesRelatedToInventoryShipmentInSupplyAgreement
|
374000 | |
| culp |
Net Sales Related To Inventory Shipment In Supply Agreement
NetSalesRelatedToInventoryShipmentInSupplyAgreement
|
1200000 | ||
| CY2022Q1 | culp |
Charges Related To Rebate Agreement
ChargesRelatedToRebateAgreement
|
16000 | |
| culp |
Charges Related To Rebate Agreement
ChargesRelatedToRebateAgreement
|
53000 | ||
| CY2022Q1 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
80291000 | |
| CY2021Q1 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
1947000 | |
| CY2022Q1 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
-0.02 | |
| CY2021Q1 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.16 | |
| CY2022Q1 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
-0.02 | |
| CY2021Q1 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.16 | |
| us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
237899000 | ||
| us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
221931000 | ||
| culp |
Business Acquisitions Pro Forma Operating Income Loss From Continuing Operations
BusinessAcquisitionsProFormaOperatingIncomeLossFromContinuingOperations
|
6061000 | ||
| culp |
Business Acquisitions Pro Forma Operating Income Loss From Continuing Operations
BusinessAcquisitionsProFormaOperatingIncomeLossFromContinuingOperations
|
10500000 | ||
| us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
2812000 | ||
| us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
1764000 | ||
| us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.23 | ||
| us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.14 | ||
| us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.23 | ||
| us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.14 | ||
| us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
31000 | ||
| CY2021Q1 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
1700000 | |
| CY2021Q1 | us-gaap |
Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
|
0.50 | |
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | ||
| CY2022Q1 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
0 | |
| CY2021Q1 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
0 | |
| CY2021Q2 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
0 | |
| us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
-1893000 | ||
| culp |
Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
|
2254000 | ||
| culp |
Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
|
1619000 | ||
| CY2022Q1 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
518000 | |
| CY2021Q1 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
228000 | |
| CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
80291000 | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
237899000 | ||
| CY2021Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
79341000 | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
220656000 | ||
| CY2021Q2 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
540000 | |
| CY2020Q2 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
502000 | |
| us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
-2276000 | ||
| CY2022Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
12964000 | |
| CY2021Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
7942000 | |
| CY2021Q2 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
7742000 | |
| CY2022Q1 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
4679000 | |
| CY2021Q1 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
2701000 | |
| CY2021Q2 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
3156000 | |
| CY2022Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
55490000 | |
| CY2021Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
47151000 | |
| CY2021Q2 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
45019000 | |
| CY2022Q1 | us-gaap |
Inventory Net
InventoryNet
|
73133000 | |
| CY2021Q1 | us-gaap |
Inventory Net
InventoryNet
|
57794000 | |
| CY2021Q2 | us-gaap |
Inventory Net
InventoryNet
|
55917000 | |
| CY2022Q1 | us-gaap |
Indefinite Lived Trade Names
IndefiniteLivedTradeNames
|
540000 | |
| CY2021Q1 | us-gaap |
Indefinite Lived Trade Names
IndefiniteLivedTradeNames
|
540000 | |
| CY2021Q2 | us-gaap |
Indefinite Lived Trade Names
IndefiniteLivedTradeNames
|
540000 | |
| CY2022Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
2722000 | |
| CY2021Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
3098000 | |
| CY2021Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
3004000 | |
| CY2022Q1 | us-gaap |
Indefinite Lived Trade Names
IndefiniteLivedTradeNames
|
540000 | |
| CY2022Q1 | us-gaap |
Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
|
3100000 | |
| CY2021Q1 | us-gaap |
Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
|
3100000 | |
| CY2021Q2 | us-gaap |
Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
|
3100000 | |
| CY2022Q1 | us-gaap |
Finite Lived Noncompete Agreements Gross
FiniteLivedNoncompeteAgreementsGross
|
2000000.0 | |
| CY2021Q1 | us-gaap |
Finite Lived Noncompete Agreements Gross
FiniteLivedNoncompeteAgreementsGross
|
2000000.0 | |
| CY2021Q2 | us-gaap |
Finite Lived Noncompete Agreements Gross
FiniteLivedNoncompeteAgreementsGross
|
2000000.0 | |
| CY2022Q1 | us-gaap |
Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
|
3426000 | |
| CY2021Q1 | us-gaap |
Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
|
8363000 | |
| CY2021Q2 | us-gaap |
Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
|
9816000 | |
| CY2022Q1 | us-gaap |
Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
|
5020000 | |
| CY2021Q1 | us-gaap |
Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
|
5211000 | |
| CY2021Q2 | us-gaap |
Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
|
5023000 | |
| CY2022Q1 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
8446000 | |
| CY2021Q1 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
13574000 | |
| CY2021Q2 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
14839000 | |
| CY2022Q1 | culp |
Available For Sale Securities Debt And Equity Securities Current
AvailableForSaleSecuritiesDebtAndEquitySecuritiesCurrent
|
438000 | |
| CY2021Q1 | culp |
Available For Sale Securities Debt And Equity Securities Current
AvailableForSaleSecuritiesDebtAndEquitySecuritiesCurrent
|
5500000 | |
| CY2021Q2 | culp |
Available For Sale Securities Debt And Equity Securities Current
AvailableForSaleSecuritiesDebtAndEquitySecuritiesCurrent
|
5500000 | |
| culp |
Held To Maturity Securities Remaining Maturity Period
HeldToMaturitySecuritiesRemainingMaturityPeriod
|
P2Y3M18D | ||
| CY2022Q1 | us-gaap |
Held To Maturity Securities
HeldToMaturitySecurities
|
10000000.0 | |
| CY2021Q1 | us-gaap |
Held To Maturity Securities
HeldToMaturitySecurities
|
10300000 | |
| CY2021Q2 | us-gaap |
Held To Maturity Securities
HeldToMaturitySecurities
|
4300000 | |
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | ||
| CY2022Q1 | us-gaap |
Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
|
9800000 | |
| CY2021Q1 | us-gaap |
Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
|
10300000 | |
| CY2021Q2 | us-gaap |
Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
|
4300000 | |
| CY2022Q1 | culp |
Available For Sale Securities Debt And Equity Securities Noncurrent
AvailableForSaleSecuritiesDebtAndEquitySecuritiesNoncurrent
|
9200000 | |
| CY2021Q1 | culp |
Available For Sale Securities Debt And Equity Securities Noncurrent
AvailableForSaleSecuritiesDebtAndEquitySecuritiesNoncurrent
|
8200000 | |
| CY2021Q2 | culp |
Available For Sale Securities Debt And Equity Securities Noncurrent
AvailableForSaleSecuritiesDebtAndEquitySecuritiesNoncurrent
|
8400000 | |
| CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12212000 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12305000 | |
| CY2021Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
64000 | |
| CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12212000 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12369000 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12249000 | ||
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12297000 | ||
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
92000 | ||
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
2000 | ||
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12341000 | ||
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12299000 | ||
| 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. | ||
| CY2022Q1 | us-gaap |
Gross Profit
GrossProfit
|
9110000 | |
| CY2021Q1 | us-gaap |
Gross Profit
GrossProfit
|
13872000 | |
| CY2022Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1103000 | |
| CY2021Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
4037000 | |
| CY2022Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
214000 | |
| CY2021Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
90000 | |
| CY2022Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-322000 | |
| CY2021Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-1010000 | |
| CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
995000 | |
| CY2021Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
3117000 | |
| us-gaap |
Gross Profit
GrossProfit
|
32336000 | ||
| us-gaap |
Gross Profit
GrossProfit
|
38035000 | ||
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
6061000 | ||
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
10438000 | ||
| us-gaap |
Interest Expense
InterestExpense
|
51000 | ||
| us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
347000 | ||
| us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
208000 | ||
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-963000 | ||
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-2057000 | ||
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
5445000 | ||
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
8538000 | ||
| culp |
Capital Expenditures
CapitalExpenditures
|
4973000 | ||
| culp |
Capital Expenditures
CapitalExpenditures
|
4453000 | ||
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2600000 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.484 | ||
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
6800000 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.801 | ||
| 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
|
-0.269 | ||
| us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.899 | ||
| culp |
Effective Income Tax Rate Reconciliation Global Intangible Low Taxed Income Tax Percent
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxedIncomeTaxPercent
|
0.374 | ||
| culp |
Effective Income Tax Rate Reconciliation Global Intangible Low Taxed Income Tax Percent
EffectiveIncomeTaxRateReconciliationGlobalIntangibleLowTaxedIncomeTaxPercent
|
-0.413 | ||
| culp |
Effective Income Tax Rate Reconciliation Withholding Taxes Associated With Foreign Jurisdictions
EffectiveIncomeTaxRateReconciliationWithholdingTaxesAssociatedWithForeignJurisdictions
|
0.098 | ||
| culp |
Effective Income Tax Rate Reconciliation Withholding Taxes Associated With Foreign Jurisdictions
EffectiveIncomeTaxRateReconciliationWithholdingTaxesAssociatedWithForeignJurisdictions
|
0.075 | ||
| CY2021Q1 | us-gaap |
Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
|
3300000 | |
| CY2021Q2 | us-gaap |
Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
|
3500000 | |
| CY2022Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1400000 | |
| CY2021Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1400000 | |
| CY2021Q2 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1400000 | |
| CY2022Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1400000 | |
| CY2021Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1400000 | |
| CY2020Q4 | culp |
Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax Amount Remaining Refundable Received
DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTaxAmountRemainingRefundableReceived
|
764000 | |
| us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.051 | ||
| us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.089 | ||
| culp |
Effective Income Tax Rate Reconciliation Tax Effects Deductible Foreign Exchange Rate Losses
EffectiveIncomeTaxRateReconciliationTaxEffectsDeductibleForeignExchangeRateLosses
|
-0.010 | ||
| culp |
Effective Income Tax Rate Reconciliation Tax Effects Deductible Foreign Exchange Rate Losses
EffectiveIncomeTaxRateReconciliationTaxEffectsDeductibleForeignExchangeRateLosses
|
-0.067 | ||
| us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
0.030 | ||
| us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
0.008 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.484 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.801 | ||
| CY2022Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
10132000 | |
| CY2021Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
10825000 | |
| CY2021Q2 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
11674000 | |
| 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 | ||
| CY2022Q1 | us-gaap |
Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
|
3600000 | |
| CY2021Q2 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1400000 | |
| CY2022Q1 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
1100000 | |
| CY2021Q1 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
1100000 | |
| CY2021Q2 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
1100000 | |
| CY2022Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1400000 | |
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
3045000 | ||
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
1192000 | ||
| culp |
Income Taxes Refunded Amount
IncomeTaxesRefundedAmount
|
1500000 | ||
| culp |
Income Taxes Refunded Amount
IncomeTaxesRefundedAmount
|
1500000 | ||
| culp |
Number Of Separate Installments
NumberOfSeparateInstallments
|
2 | ||
| CY2020Q3 | culp |
Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax Amount Remaining Refundable Received
DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTaxAmountRemainingRefundableReceived
|
746000 | |
| CY2022Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
7848000 | |
| CY2021Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
4179000 | |
| CY2021Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
6821000 | |
| us-gaap |
Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
|
renewal options for additional periods ranging up to twelve years. | ||
| CY2022Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
16595000 | |
| CY2021Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
6206000 | |
| CY2021Q2 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
11730000 | |
| CY2022Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
3295000 | |
| CY2021Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
2273000 | |
| CY2021Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
2736000 | |
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
2249000 | ||
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1930000 | ||
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
3763000 | ||
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
4309000 | ||
| CY2022Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1000000.0 | |
| CY2021Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
713000 | |
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
2800000 | ||
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
2100000 | ||
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
740000 | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
3440000 | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
3045000 | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
1983000 | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
493000 | |
| CY2022Q1 | culp |
Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
|
1868000 | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
11569000 | |
| CY2022Q1 | culp |
Interest Payable On Operating Lease Liabilities
InterestPayableOnOperatingLeaseLiabilities
|
426000 | |
| CY2022Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
11143000 | |
| CY2022Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P4Y7M6D | |
| CY2022Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0177 | |
| CY2021Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y3M18D | |
| CY2021Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0239 | |
| CY2022Q1 | culp |
Accounts Payable Capital Expenditures Current
AccountsPayableCapitalExpendituresCurrent
|
33000 | |
| CY2021Q1 | culp |
Accounts Payable Capital Expenditures Current
AccountsPayableCapitalExpendituresCurrent
|
240000 | |
| CY2021Q2 | culp |
Accounts Payable Capital Expenditures Current
AccountsPayableCapitalExpendituresCurrent
|
348000 | |
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
1800000 |
