Culp, Inc. Reaffirms Earnings Guidance for the Second Quarter and Full Year of 2022
September 01, 2021 at 04:15 pm EDT
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Culp, Inc. reaffirmed earnings guidance for the second quarter and full year of 2022. For the second quarter, the company's net sales and consolidated operating income (income from operations) are expected to be comparable to the first quarter of fiscal 2022.
For the full fiscal 2022 year, the company reaffirms its expectations for net sales to continue increasing moderately, with a projected increase between 8% to 12%, and for consolidated operating income to increase significantly, with a projected increase between 20% to 25%, in each case as compared to fiscal 2021.
Culp, Inc. is a marketer of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture. The Company markets a variety of fabrics to its global customer base of bedding and furniture companies, including fabrics produced at the Company's manufacturing facilities and fabrics sourced through other suppliers. The Company operates through two segments. The mattress fabrics segment markets primarily knitted and woven fabrics, as well as sewn covers made from those fabrics, which are used in the production of bedding products, including mattresses, foundations, and mattress sets. The upholstery fabrics segment markets a variety of fabric products that are used principally in the production of residential and commercial upholstered furniture, including sofas, recliners, chairs, loveseats, sectionals, sofa-beds, and office seating, as well as window treatment products and installation services for customers in the hospitality and commercial industries.
CULP, INC. 
