Revenue Update on Culp(NYSE:CFI)

Culp(NYSE:CFI) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Jun 15, 2016. Company reported revenue of $77.25M. Analysts estimated a revenue of $79.06M. Earnings per share were $0.47. Analysts had estimated an EPS of $0.47.

In a different note, Topeka Capital said it Initiates Coverage on Culp, according to a research note issued on May 24, 2016. The shares have been rated ‘Hold’ by the firm.

Culp (CFI) shares turned negative on Tuesdays trading session with the shares closing down -0.08 points or -0.28% at a volume of 30,584. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $28.73. The peak price level was also seen at $28.73 while the days lowest was $27.95. Finally the shares closed at $28.47. The 52-week high of the shares is $35.23 while the 52-week low is $22.61. According to the latest information available, the market cap of the company is $349 M.

Several Insider Transactions has been reported to the SEC. On Apr 19, 2016, Patrick B Flavin (director) sold 2,000 shares at $27.55 per share price.Also, On Apr 19, 2016, Boyd Brooks Chumbley (Executive VP Upholstery Fabric) sold 1,000 shares at $27.04 per share price.On Jul 16, 2015, Kenneth W Mcallister (director) sold 5,000 shares at $32.74 per share price, according to the Form-4 filing with the securities and exchange commission.

Culp Inc. is a producer of mattress fabrics in North America. The Company is engaged in the manufacture sourcing and marketing of mattress fabrics and sewn covers used for covering mattresses and box springs and upholstery fabrics including cut and sewn kits. It operates through two segments: mattress fabrics (Culp Home Fashions) and upholstery fabrics. Its mattress fabrics segment offers woven jacquard fabrics knitted fabrics and some converted fabrics. Its Upholstery fabrics segment offers jacquard woven fabrics velvets microdenier suedes woven dobbies knitted fabrics piece-dyed woven products and polyurethane leather look fabrics. As of May 3 2015 the Company had 13 manufacturing plants and distribution facilities located in North and South Carolina; Quebec Canada and Shanghai China. It markets a range of fabrics produced at its manufacturing facilities as well as fabrics produced by other suppliers to the customers across the globe.

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