Home / Knowledge / News / Textiles / Culp announces revised expectations for Q2 fiscal 2011
Culp announces revised expectations for Q2 fiscal 2011
23
Oct '10
Culp, Inc., announced that, based on quarterly results to date and current estimates, the company expects pre-tax income to be in the range of $2.9 to $3.3 million for the second quarter of fiscal 2011. These projected results are lower than the company's previously announced expectation of $3.5 to $4.0 million in pre-tax income for the quarter. The company reported pre-tax income of $3.5 million for the second quarter of last year.

Commenting on the announcement, Frank Saxon, president and chief executive officer of Culp, Inc., said, "Our projected financial results for the second quarter reflect lower overall sales than anticipated, driven by weaker consumer demand trends for furniture and bedding.

"We anticipate overall sales will be relatively flat compared with sales for the same period last year, whereas we previously announced that overall sales were expected to be up 5 to 10 percent. We have also experienced higher raw material costs in both segments and increased pricing pressure in our mattress fabrics business."

The company expects to report financial and operating results for the second quarter ending October 31, 2010, in late November.

Culp, Inc. is one of the world's largest marketers of mattress fabrics for bedding and upholstery fabrics for furniture. The company's fabrics are used principally in the production of bedding products and residential and commercial upholstered furniture.

Culp Inc

Must ReadView All

Textiles | On 6th Dec 2016

Garments, yarn export entitlement quota extended for 1 yr

Indian government has extended the export entitlement quota for...

Textiles | On 6th Dec 2016

Cash inflow will revive sales: Textile industry

The textile industry representatives are hopeful of revival of...

Courtesy: SIMA

Textiles | On 6th Dec 2016

Amma gave special attention for textile growth in TN: SIMA

Former Tamil Nadu chief minister J Jayalalithaa paid special...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search