10-Q Filing

CULP INC CIK: 723603 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001157523-11-005333`
Period End Date	20110731
Filing Date	20110909
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	cfi-20110731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 91 Income Statement 32 Cash Flow Statement 61 Stockholders Equity 21

Balance Sheet 91 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.04M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.18M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$7.70M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$4.01M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$10.44M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$20.21M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$18.91M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$18.34M	USD	Point-in-time
Inventories	`InventoryNet`	$29.69M	USD	Point-in-time
Inventories	`InventoryNet`	$28.72M	USD	Point-in-time
Inventories	`InventoryNet`	$34.86M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$293.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.24M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$138.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleCurrent`	$75.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleCurrent`	$75.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleCurrent`	$123.00K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$79.00K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$568.00K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$79.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.65M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.38M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.86M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$68.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$82.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$83.03M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$30.30M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$30.47M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$30.61M	USD	Point-in-time
Goodwill	`Goodwill`	$11.46M	USD	Point-in-time
Goodwill	`Goodwill`	$11.46M	USD	Point-in-time
Goodwill	`Goodwill`	$11.46M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$3.61M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$2.19M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$245.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.01M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.36M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.05M	USD	Point-in-time
Total assets	`Assets`	$113.10M	USD	Point-in-time
Total assets	`Assets`	$130.05M	USD	Point-in-time
Total assets	`Assets`	$129.31M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.41M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.41M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$194.00K	USD	Point-in-time
Accounts payable-trade	`AccountsPayableCurrent`	$25.02M	USD	Point-in-time
Accounts payable-trade	`AccountsPayableCurrent`	$22.82M	USD	Point-in-time
Accounts payable-trade	`AccountsPayableCurrent`	$24.87M	USD	Point-in-time
Accounts payable - capital expenditures	`AccountsPayableCapitalExpendituresCurrent`	$140.00K	USD	Point-in-time
Accounts payable - capital expenditures	`AccountsPayableCapitalExpendituresCurrent`	$342.00K	USD	Point-in-time
Accounts payable - capital expenditures	`AccountsPayableCapitalExpendituresCurrent`	$498.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$5.96M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$5.86M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.62M	USD	Point-in-time
Accrued restructuring costs	`RestructuringReserveCurrent`	$41.00K	USD	Point-in-time
Accrued restructuring costs	`RestructuringReserveCurrent`	$316.00K	USD	Point-in-time
Accrued restructuring costs	`RestructuringReserveCurrent`	$44.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$82.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$82.00K	USD	Point-in-time
Income taxes payable - current	`AccruedIncomeTaxesCurrent`	$345.00K	USD	Point-in-time
Income taxes payable - current	`AccruedIncomeTaxesCurrent`	$182.00K	USD	Point-in-time
Income taxes payable - current	`AccruedIncomeTaxesCurrent`	$646.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$35.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.10M	USD	Point-in-time
Income taxes payable - long-term	`AccruedIncomeTaxesNoncurrent`	$3.88M	USD	Point-in-time
Income taxes payable - long-term	`AccruedIncomeTaxesNoncurrent`	$4.17M	USD	Point-in-time
Income taxes payable - long-term	`AccruedIncomeTaxesNoncurrent`	$4.18M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$666.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$596.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$596.00K	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$9.13M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$11.45M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$9.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$49.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$47.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$45.97M	USD	Point-in-time
Commitments and Contingencies (Note 17)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 17)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 17)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Shareholders' equity	`StockholdersEquity`	$81.35M	USD	Point-in-time
Shareholders' equity	`StockholdersEquity`	$63.05M	USD	Point-in-time
Shareholders' equity	`StockholdersEquity`	$67.13M	USD	Point-in-time
Shareholders' equity	`StockholdersEquity`	$80.34M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$129.31M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$113.10M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$130.05M	USD	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	13.08M	shares	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	13.18M	shares	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	13.26M	shares	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$60.27M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$55.91M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$51.39M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$46.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.88M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.71M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.21M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.76M	USD	1 Quarter
Restructuring credit	`RestructuringChargesCredits`	$6.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.50M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.12M	USD	1 Quarter
Interest expense	`InterestExpense`	$220.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$210.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$129.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$38.00K	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$53.00K	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$65.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.96M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.28M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$1.15M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$531.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.75M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.16M	USD	Annual
Net income per share, basic	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Net income per share, basic	`EarningsPerShareBasic`	$0.29	USD	1 Quarter
Net income per share, diluted	`EarningsPerShareDiluted`	$0.28	USD	1 Quarter
Net income per share, diluted	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Average shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	13.06M	shares	1 Quarter
Average shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	12.87M	shares	1 Quarter
Average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.21M	shares	1 Quarter
Average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.20M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.75M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.16M	USD	Annual
Depreciation	`Depreciation`	$1.19M	USD	1 Quarter
Depreciation	`Depreciation`	$1.01M	USD	1 Quarter
Amortization of other assets	`AdjustmentForAmortization`	$130.00K	USD	1 Quarter
Amortization of other assets	`AdjustmentForAmortization`	$56.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$96.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$77.00K	USD	1 Quarter
Excess tax benefit related to stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$31.00K	USD	1 Quarter
Excess tax benefit related to stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$169.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$502.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-55.00K	USD	1 Quarter
Foreign currency exchange (gains) losses	`ForeignCurrencyTransactionGainLossUnrealized`	$39.00K	USD	1 Quarter
Foreign currency exchange (gains) losses	`ForeignCurrencyTransactionGainLossUnrealized`	$-87.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.32M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.48M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.69M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.08M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-41.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$486.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$27.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$14.00K	USD	1 Quarter
Accounts payable - trade	`IncreaseDecreaseInAccountsPayableTrade`	$54.00K	USD	1 Quarter
Accounts payable - trade	`IncreaseDecreaseInAccountsPayableTrade`	$541.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.75M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-3.63M	USD	1 Quarter
Accrued restructuring	`IncreaseDecreaseInRestructuringReserve`	$-3.00K	USD	1 Quarter
Accrued restructuring	`IncreaseDecreaseInRestructuringReserve`	$-8.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxes`	$149.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxes`	$-257.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.64M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-291.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.15M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.30M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$986.00K	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$4.76M	USD	1 Quarter
Proceeds from the sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	$2.03M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.03M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.14M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$53.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$32.00K	USD	1 Quarter
Proceeds from common stock issued	`ProceedsFromIssuanceOfCommonStock`	$169.00K	USD	1 Quarter
Proceeds from common stock issued	`ProceedsFromIssuanceOfCommonStock`	$170.00K	USD	1 Quarter
Common stock repurchased	`PaymentsForRepurchaseOfCommonStock`	$1.10M	USD	1 Quarter
Excess tax benefit related to stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$31.00K	USD	1 Quarter
Excess tax benefit related to stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$169.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$307.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-955.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-129.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$19.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.25M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.61M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.04M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.30M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.57M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.04M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.57M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.18M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$81.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$63.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$67.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$80.34M	USD	Point-in-time
Net income	`NetIncomeLoss`	$3.75M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.16M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$360.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$77.00K	USD	1 Quarter
Loss on cash flow hedge, net of taxes	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease`	$-103.00K	USD	Annual
Unrealized gains on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$15.00K	USD	1 Quarter
Common stock surrendered for withholding taxes payable and cost of option exercises	`ValueOfSharesSurrenderedAndCanceledForExercisePriceOnStockOptionExercisesAndRelatedTaxWithholdingsArisingFromExercises`	$563.00K	USD	Annual
Excess tax benefit related to stock based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$339.00K	USD	Annual
Excess tax benefit related to stock based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$31.00K	USD	1 Quarter
Common stock repurchased	`CommonStockPurchasedAndRetiredValue`	$1.10M	USD	1 Quarter
Common stock issued in connection with stock option plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.10M	USD	Annual
Common stock issued in connection with stock option plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$169.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$81.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$63.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$67.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$80.34M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.