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NEWS ER
Culp Announces Results for Second Quarter Fiscal 2025, Highlighted by Sequential Improvement in Mattress Fabrics Performance, Along With Steady Restructuring Progress
Positive
Mattress fabrics segment sales increased 7.1% sequentially
70.7% sequential reduction in mattress fabrics operating loss
Expected positive adjusted EBITDA for second half of FY2025
Projected $10-11 million in annualized savings after restructuring completion
Upholstery fabrics segment remains profitable
Negative
Consolidated net sales declined 5.2% year-over-year to $55.7 million
GAAP consolidated loss from operations of $(5.4) million
Operating loss of $(2.6) million on non-GAAP basis
$4.1 million in outstanding borrowings
Expected continued pressure on residential upholstery fabric sales
Mattress fabrics segment sales increased 7.1% sequentially
70.7% sequential reduction in mattress fabrics operating loss
Expected positive adjusted EBITDA for second half of FY2025
Projected $10-11 million in annualized savings after restructuring completion
Upholstery fabrics segment remains profitable
Negative
Consolidated net sales declined 5.2% year-over-year to $55.7 million
GAAP consolidated loss from operations of $(5.4) million
Operating loss of $(2.6) million on non-GAAP basis
$4.1 million in outstanding borrowings
Expected continued pressure on residential upholstery fabric sales
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