CULP Culp, Inc.
Culp, Inc. engages in the design, manufacture, and trade of mattresses and upholstery products. It operates through the Mattress Fabrics and Upholstery Fabrics segments. The Mattress Fabrics segment markets and sells covers and beddings under the Culp Home Fashions brand. The Upholstery Fabrics segment produces and supplies fabrics for residential and commercial manufacturers. The company was founded by Robert G. Culp, Jr. and Robert G. Culp, III in 1972 and is headquartered in High Point, NC.
Company profile
Ticker
CULP
Exchange
Website
CEO
Robert George Culp
Employees
Incorporated in
Location
Fiscal year end
Sector
Industry (SEC)
Crown Crafts ...
SEC CIK
Corporate docs
IRS number
561001967
CULP stock data
()
Calendar
13 Mar 20
9 Jul 20
3 May 21
News
Company financial data Financial data
| Quarter (USD) | Feb 20 | Nov 19 | Aug 19 | Apr 19 | |
|---|---|---|---|---|---|
| Revenue | 72M | 72.62M | 74.85M | 70.96M | |
| Net income | -58K | 2.3M | 1.34M | -1.37M | |
| Diluted EPS | 0 | 0.19 | 0.11 | -0.11 | |
| Net profit margin | -0.08% | 3.17% | 1.79% | -1.93% | |
| Operating income | -5.09M | 3.98M | 2.69M | 1.96M | |
| Net change in cash | -25.31M | 2.95M | 4.23M | 13.59M | |
| Cash on hand | 21.87M | 47.18M | 44.24M | 40.01M | |
| Cost of revenue | 59.61M | 58.52M | 61.48M | 58.77M |
| Annual (USD) | Apr 19 | Apr 18 | Apr 17 | May 16 | |
|---|---|---|---|---|---|
| Revenue | 296.67M | 323.73M | 309.54M | 312.86M | |
| Net income | 5.68M | 20.88M | 22.33M | 16.94M | |
| Diluted EPS | 0.45 | 1.65 | 1.78 | 1.36 | |
| Net profit margin | 1.91% | 6.45% | 7.22% | 5.41% | |
| Operating income | 12.62M | 27.46M | 30.08M | 28.34M | |
| Net change in cash | 18.78M | 433K | -16.99M | 8.06M | |
| Cash on hand | 40.01M | 21.23M | 20.8M | 37.79M | |
| Cost of revenue | 246.47M | 259.09M | 240.31M | 247.75M |
Financial data from Culp earnings reports
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 7 Jul 20 | Mcallister Kenneth W | Common Stock | Buy | Aquire P | No | 10.25 | 2,000 | 20.5K | 37,962 |
| 1 Jul 20 | Decker Sharon A | Common Stock | Grant | Aquire A | No | 0 | 1,375 | 0 | 6,738 |
| 1 Jul 20 | Jackson Fred A | Common Stock | Grant | Aquire A | No | 0 | 1,375 | 0 | 31,304 |
| 1 Jul 20 | Larson Kenneth R | Common Stock | Grant | Aquire A | No | 0 | 1,375 | 0 | 6,021 |
| 1 Jul 20 | Larson Kenneth R | Common Stock | Grant | Aquire A | No | 0 | 1,375 | 0 | 19,071 |
Institutional ownership Q1 2020
79.9% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 71 |
| Opened positions | 9 |
| Closed positions | 14 |
| Increased positions | 32 |
| Reduced positions | 21 |
13F shares |
Current |
|---|---|
| Total value | 97.38M |
| Total shares | 9.81M |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|---|---|
| CIBC Private Wealth | 1.47M | $10.84M |
| SLFPF Standard Life Aberdeen | 903.75K | $6.65M |
| N Price T Rowe Associates | 864.16K | $6.36M |
| Dimensional Fund Advisors | 843.7K | $6.21M |
| BLK BlackRock | 841.12K | $6.19M |
| Renaissance Technologies | 826.72K | $6.09M |
| Vanguard | 607.18K | $4.47M |
| Brown Advisory | 407.48K | $3M |
| Keeley-Teton Advisors | 333.22K | $2.45M |
| Nuveen Asset Management | 243.3K | $1.79M |
Financial report summary
?Risks
- Our business, financial condition, and results of operation may be adversely affected by global public health epidemics, including the recent coronavirus outbreak.
Management Discussion
- Overall, our net sales for the third quarter of fiscal 2020 decreased by 6.8% compared with the same period a year ago, with mattress fabric sales declining 7.4%, upholstery fabric sales declining 5.7%, and home accessories sales declining 11.0%. Our net sales for the first nine months of fiscal 2020 decreased by 2.8% compared with the same period a year ago, with mattress fabrics sales declining 0.1% and upholstery fabrics sales declining 5.5%. There was no full period of comparable prior-year sales for the home accessories segment as a result of the June 22, 2018, investment in eLuxury. The first nine months of fiscal 2020 had 40 weeks compared to 39 weeks for the first nine months of fiscal 2019.
Content analysis
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| Legalese | ||
| Litigous | ||
| Readability |
H.S. sophomore Avg
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New words:
back, brought, built, capture, chain, Chairman, clarification, daily, decide, depend, disease, division, driver, earnout, economy, emerge, epidemic, extensive, fewer, fluidity, fresh, hard, heading, health, increasingly, intensified, introduced, introducing, led, losing, modest, monitoring, moving, outbreak, outlook, pandemic, predict, predicted, pressured, preventative, protect, protective, reactive, relocated, retroactively, retroactivity, showed, situation, slower, speed, stable, strain, surfaced, test, timeframe, Turkey, Vietnam, violation, virtually, workforce, worsen, Wuhan
Removed:
assessing, efficient, expand, influx, mirrored, month, partial, punitive, Taxed
Financial reports
10-Q
2020 Q3
Quarterly report
13 Mar 20
10-Q
2020 Q2
Quarterly report
13 Dec 19
10-Q
2020 Q1
Quarterly report
13 Sep 19
10-K
2019 FY
Annual report
12 Jul 19
10-Q
2019 Q3
Quarterly report
8 Mar 19
10-Q
2019 Q2
Quarterly report
7 Dec 18
10-Q
2019 Q1
Quarterly report
7 Sep 18
10-K
2018 FY
Annual report
13 Jul 18
10-Q
2018 Q3
Quarterly report
9 Mar 18
10-Q
2018 Q2
Quarterly report
8 Dec 17
Current reports
8-K
Entry into a Material Definitive Agreement
1 Jul 20
8-K
Other Events
14 May 20
8-K
Entry into a Material Definitive Agreement
21 Apr 20
8-K/A
Cost Associated with Exit or Disposal Activities
21 Apr 20
8-K
Departure of Directors or Certain Officers
10 Apr 20
8-K
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
6 Apr 20
8-K
Entry into a Material Definitive Agreement
2 Apr 20
8-K
Culp Announces Results for Third Quarter Fiscal 2020
4 Mar 20
8-K
Results of Operations and Financial Condition
18 Feb 20
8-K
Results of Operations and Financial Condition
5 Dec 19
Registration and prospectus
S-8
Registration of securities for employees
30 Sep 15
25-NSE
Exchange delisting
21 Sep 10
S-8
Registration of securities for employees
28 Nov 07
S-8 POS
Registration of securities for employees (post-effective amendment)
5 Nov 07
S-3/A
Shelf registration (amended)
2 Apr 07
S-3
Shelf registration
16 Mar 07
REGDEX
Notice of sale of securities
30 Jan 07
S-8
Registration of securities for employees
12 Dec 02
S-8 POS
Registration of securities for employees (post-effective amendment)
26 Apr 01
S-8
Registration of securities for employees
25 Apr 01
Proxies
DEF 14A
Definitive proxy
22 Aug 19
DEF 14A
Definitive proxy
17 Aug 18
DEF 14A
Definitive proxy
18 Aug 17
DEF 14A
Definitive proxy
19 Aug 16
DEF 14A
Definitive proxy
12 Aug 15
DEF 14A
Definitive proxy
15 Aug 14
DEF 14A
Definitive proxy
15 Aug 13
DEF 14A
Definitive proxy
15 Aug 12
DEF 14A
Definitive proxy
18 Aug 11
DEF 14A
Definitive proxy
20 Aug 10
Other
SD
Conflict minerals disclosure
1 Jun 20
SD
Conflict minerals disclosure
30 May 19
SD
Conflict minerals disclosure
25 May 18
SD
Conflict minerals disclosure
19 May 17
UPLOAD
Letter from SEC
6 Apr 17
CORRESP
Correspondence with SEC
4 Apr 17
CORRESP
Correspondence with SEC
15 Mar 17
UPLOAD
Letter from SEC
7 Mar 17
SD
Conflict minerals disclosure
23 May 16
SD
Conflict minerals disclosure
7 May 15
Ownership
4
CULP / KENNETH W MCALLISTER ownership change
8 Jul 20
SC 13G/A
CULP / Standard Life Aberdeen ownership change
7 Jul 20
SC 13G
CULP / Mill Road Capital III ownership change
6 Jul 20
4
CULP / KENNETH W MCALLISTER ownership change
6 Jul 20
4
CULP / PERRY E DAVIS ownership change
6 Jul 20
4/A
CULP / KENNETH R LARSON ownership change
6 Jul 20
4
CULP / KENNETH R LARSON ownership change
6 Jul 20
4
CULP / FRED A JACKSON ownership change
6 Jul 20
4
CULP / SHARON A DECKER ownership change
6 Jul 20
4
CULP / KENNETH W MCALLISTER ownership change
3 Apr 20