CULP - Culp GAAP EPS of -$0.47 revenue of $62.6M

• Culp press release ( NYSE: CULP ): Q1 GAAP EPS of -$0.47.
• Revenue of $62.6M (-24.6% Y/Y).
• The company’s financial position reflected total cash and investments of $18.9 million and no outstanding borrowings as of July 31, 2022.
• Forward Looking Statement: "The company’s net sales for the second quarter of fiscal 2023 are expected to be slightly down as compared to the first quarter of fiscal 2023. The company expects a consolidated operating loss (loss from operations) for the second quarter of fiscal 2023 that is comparable to the first quarter of fiscal 2023. The company also expects its cash position as of the end of the second quarter of fiscal 2023 to be somewhat lower than the end of the first quarter of fiscal 2023, but higher than the end of fiscal 2022."

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