Culp Inc CFI Q1 FY2017 Earnings Summary

Culp, Inc. reported first quarter fiscal 2017 net sales of $80.7 million with net income of $5.3 million, up from prior year results. The company highlighted strong financial position with $41.0 million net cash and returned significant capital to shareholders through dividends and repurchases. Management projects flat to slightly higher second quarter sales with pre-tax income expected between $6.6–$7.1 million.