Culp Announces Results for First Quarter Fiscal 2010.

HIGH POINT, N.C. -- Culp, Inc. (NYSE: CFI) today reported financial and operating results for the first quarter ended August 2, 2009.

Highlights for the first quarter of fiscal 2010 include the following:

* Net sales were $45.5 million, 23 percent lower than the first quarter of the last year, with mattress fabrics segment sales down 26 percent and upholstery fabric segment sales down 19 percent, in line with expectations. The first quarter of fiscal 2010 had a total of 13 weeks compared with 14 weeks for the first quarter of fiscal 2009.

* Pre-tax income was $2.0 million, or 4.4 percent of sales, compared with $1.2 million, or 2.0 percent of sales in the prior year period, an increase of 65 percent.

* Net income was $1.9 million, or ...

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