Fabric Maker Culp Shows Gains
Sales up 7% From Previous Year
By Staff -- Home Textiles Today, 12/3/2007 12:00:00 AM
High Point, N.C. —
Culp, manufacturer of fabric for mattresses and upholstery, reported earnings growth in its second-quarter results, with net income of $1.6 million — double the $0.8 million in the year-ago period. Year-to-date, Culp has seen sales grow 7.0% to $129.6 million and realized income of $2.4 million or $0.19 EPS.
While sales on the mattress side has been growing, the upholstery side is a work in progress. Of that division, Frank Saxon, ceo, observed, "Our China platform and lower operating cost structure have positioned us to operate more efficiently during the downturn, remain profitable on lower volumes and benefit from any upturn in demand."
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