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Culp announces Q4 fiscal 2007 sales results
20 Jun '07
3 min read
Excluding restructuring and related charges, net income for fiscal 2007 was $3.8 million, or $0.32 per diluted share. Excluding restructuring and related charges, net loss for fiscal 2006 was $438,000, or $0.04 per diluted share.
Frank Saxon, chief executive officer of Culp Inc, said, "Our fourth quarter performance marked a solid finish to a year of important strategic and operational changes at Culp. These results reflect the benefits of the aggressive steps we have taken this year to more effectively position Culp in the global marketplace."
"Our mattress fabrics business has progressed well with the addition of the mattress fabrics product line of International Textile Group Inc's Burlington House Division (ITG), acquired at the end of the third fiscal quarter. This transition has gone well and we are excited about the significant opportunities ahead for Culp in mattress fabrics."
"Although market conditions have continued to be extremely challenging in upholstery fabrics, we have worked hard to create a sustainable upholstery fabrics business model that will meet current customer demand. Our China platform has significantly enhanced our competitive position in the global marketplace. We believe we have achieved a solid leadership position in both of our businesses and look forward to the year ahead."
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Frank Saxon, chief executive officer of Culp Inc, said, "Our fourth quarter performance marked a solid finish to a year of important strategic and operational changes at Culp. These results reflect the benefits of the aggressive steps we have taken this year to more effectively position Culp in the global marketplace."
"Our mattress fabrics business has progressed well with the addition of the mattress fabrics product line of International Textile Group Inc's Burlington House Division (ITG), acquired at the end of the third fiscal quarter. This transition has gone well and we are excited about the significant opportunities ahead for Culp in mattress fabrics."
"Although market conditions have continued to be extremely challenging in upholstery fabrics, we have worked hard to create a sustainable upholstery fabrics business model that will meet current customer demand. Our China platform has significantly enhanced our competitive position in the global marketplace. We believe we have achieved a solid leadership position in both of our businesses and look forward to the year ahead."
Click here to read more:
Culp Inc
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