Culp, Inc. (CFI) reported second-quarter net income of $8.3 million or $0.67 per share, compared to $6.3 million or $0.49 per share in the comparable quarter last year.
Excluding items, adjusted net income for the quarter was $3.9 million or $0.31 per share, up from $2.3 million or $0.18 per share last year.
Net sales for the latest quarter rose 13.0 percent to $65.6 million from $58.0 million last year.
Looking forward to the third quarter, the company expects pre-tax income to be in the range of $4.0 million to $4.5 million.
Further, the company also announced that its Board of Directors has approved the payment of a special cash dividend of $0.50 per share prior to the end of calendar 2012.
In addition, the Board has approved the acceleration of payment of the company's scheduled January 2013 quarterly cash dividend of $0.03 per share. Both of these payments will be made on December 28, 2012, to shareholders of record as of December 19, 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.