10-Q Filing

CULP INC CIK: 723603 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001157523-12-004803`
Period End Date	20120731
Filing Date	20120907
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	cfi-20120729.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 90 Income Statement 31 Cash Flow Statement 62 Stockholders Equity 22 Comprehensive Income 10

Balance Sheet 90 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.18M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$10.44M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.20M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.94M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$25.05M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$18.91M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$20.02M	USD	Point-in-time
Inventories	`InventoryNet`	$44.05M	USD	Point-in-time
Inventories	`InventoryNet`	$36.37M	USD	Point-in-time
Inventories	`InventoryNet`	$34.86M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$2.34M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$2.47M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.24M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleCurrent`	$15.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleCurrent`	$15.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleCurrent`	$75.00K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$79.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.56M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.99M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.86M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$96.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$96.86M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$83.03M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$31.02M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$30.61M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$31.28M	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`	$2.19M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$3.21M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$2.71M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.89M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.91M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.01M	USD	Point-in-time
Total assets	`Assets`	$129.31M	USD	Point-in-time
Total assets	`Assets`	$144.72M	USD	Point-in-time
Total assets	`Assets`	$143.16M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.40M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.41M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.40M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$834.00K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$889.00K	USD	Point-in-time
Accounts payable-trade	`AccountsPayableCurrent`	$25.02M	USD	Point-in-time
Accounts payable-trade	`AccountsPayableCurrent`	$30.66M	USD	Point-in-time
Accounts payable-trade	`AccountsPayableCurrent`	$27.28M	USD	Point-in-time
Accounts payable - capital expenditures	`AccountsPayableCapitalExpendituresCurrent`	$152.00K	USD	Point-in-time
Accounts payable - capital expenditures	`AccountsPayableCapitalExpendituresCurrent`	$342.00K	USD	Point-in-time
Accounts payable - capital expenditures	`AccountsPayableCapitalExpendituresCurrent`	$169.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$9.32M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$5.86M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$8.37M	USD	Point-in-time
Accrued restructuring costs	`RestructuringReserveCurrent`	$40.00K	USD	Point-in-time
Accrued restructuring costs	`RestructuringReserveCurrent`	$41.00K	USD	Point-in-time
Accrued restructuring costs	`RestructuringReserveCurrent`	$40.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$82.00K	USD	Point-in-time
Income taxes payable - current	`AccruedIncomeTaxesCurrent`	$751.00K	USD	Point-in-time
Income taxes payable - current	`AccruedIncomeTaxesCurrent`	$642.00K	USD	Point-in-time
Income taxes payable - current	`AccruedIncomeTaxesCurrent`	$345.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$44.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.10M	USD	Point-in-time
Income taxes payable - long-term	`AccruedIncomeTaxesNoncurrent`	$4.13M	USD	Point-in-time
Income taxes payable - long-term	`AccruedIncomeTaxesNoncurrent`	$4.16M	USD	Point-in-time
Income taxes payable - long-term	`AccruedIncomeTaxesNoncurrent`	$4.18M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$705.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$705.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$596.00K	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$6.72M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$6.67M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$9.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$55.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$47.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$51.33M	USD	Point-in-time
Commitments and Contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Shareholders' equity	`StockholdersEquity`	$80.34M	USD	Point-in-time
Shareholders' equity	`StockholdersEquity`	$89.00M	USD	Point-in-time
Shareholders' equity	`StockholdersEquity`	$81.35M	USD	Point-in-time
Shareholders' equity	`StockholdersEquity`	$91.83M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$144.72M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$143.16M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$129.31M	USD	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	12.70M	shares	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	13.18M	shares	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	12.66M	shares	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$69.18M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$60.27M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$51.39M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$56.06M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.88M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.64M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.76M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.12M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.48M	USD	1 Quarter
Interest expense	`InterestExpense`	$220.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$190.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$129.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$127.00K	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$65.00K	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$44.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.37M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.96M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$1.15M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$1.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.30M	USD	Annual
Net income	`NetIncomeLoss`	$3.52M	USD	1 Quarter
Net income per share, basic	`EarningsPerShareBasic`	$0.28	USD	1 Quarter
Net income per share, basic	`EarningsPerShareBasic`	$0.14	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`	12.55M	shares	1 Quarter
Average shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	13.06M	shares	1 Quarter
Average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.71M	shares	1 Quarter
Average shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.21M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.30M	USD	Annual
Net income	`NetIncomeLoss`	$3.52M	USD	1 Quarter
Depreciation	`Depreciation`	$1.19M	USD	1 Quarter
Depreciation	`Depreciation`	$1.25M	USD	1 Quarter
Amortization of other assets	`AdjustmentForAmortization`	$60.00K	USD	1 Quarter
Amortization of other assets	`AdjustmentForAmortization`	$56.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$77.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$70.00K	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`	$55.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$502.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$675.00K	USD	1 Quarter
Foreign currency exchange gains	`ForeignCurrencyTransactionGainLossUnrealized`	$39.00K	USD	1 Quarter
Foreign currency exchange gains	`ForeignCurrencyTransactionGainLossUnrealized`	$80.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.99M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.32M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.08M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.71M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$572.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$486.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$43.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$14.00K	USD	1 Quarter
Accounts payable - trade	`IncreaseDecreaseInAccountsPayableTrade`	$-3.29M	USD	1 Quarter
Accounts payable - trade	`IncreaseDecreaseInAccountsPayableTrade`	$54.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-930.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.75M	USD	1 Quarter
Accrued restructuring	`IncreaseDecreaseInRestructuringReserve`	$-3.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxes`	$-257.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxes`	$148.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.64M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.96M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.01M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.30M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$25.00K	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$4.76M	USD	1 Quarter
Proceeds from the sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	$795.00K	USD	1 Quarter
Proceeds from the sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	$2.03M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-238.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.03M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$50.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$53.00K	USD	1 Quarter
Proceeds from common stock issued	`ProceedsFromIssuanceOfCommonStock`	$169.00K	USD	1 Quarter
Common stock repurchased	`PaymentsForRepurchaseOfCommonStock`	$1.10M	USD	1 Quarter
Common stock repurchased	`PaymentsForRepurchaseOfCommonStock`	$470.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$381.00K	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`	$55.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-955.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-846.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-88.00K	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`	$-8.61M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.13M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.89M	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`	$25.02M	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`	$21.89M	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`	$25.02M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.18M	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$80.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$89.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$81.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$91.83M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.30M	USD	Annual
Net income	`NetIncomeLoss`	$3.52M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$349.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$70.00K	USD	1 Quarter
Unrealized gains on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$33.00K	USD	1 Quarter
Unrealized gains on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$16.00K	USD	Annual
Unrealized gains on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$15.00K	USD	1 Quarter
Excess tax benefit related to stock based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$64.00K	USD	Annual
Excess tax benefit related to stock based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$55.00K	USD	1 Quarter
Common stock repurchased	`StockRepurchasedAndRetiredDuringPeriodValue`	$5.38M	USD	Annual
Common stock repurchased	`StockRepurchasedAndRetiredDuringPeriodValue`	$470.00K	USD	1 Quarter
Dividends paid	`DividendsCash`	$381.00K	USD	1 Quarter
Common stock issued in connection with stock option plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$318.00K	USD	Annual
Balance	`StockholdersEquity`	$80.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$89.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$81.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$91.83M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.30M	USD	Annual
Net income	`NetIncomeLoss`	$3.52M	USD	1 Quarter
Unrealized gains on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$33.00K	USD	1 Quarter
Unrealized gains on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$16.00K	USD	Annual
Unrealized gains on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$15.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$15.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$33.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.56M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.83M	USD	1 Quarter

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