Culp Q4 Profit Rises

(RTTNews) - Culp Inc. (CFI) Thursday reported fourth-quarter net income of $4.9 million or $0.39 per share, up from $2.7 million or $0.22 per share last year.

Adjusted earnings improved to $0.45 per share from $0.27 per share last year.

Net sales for the quarter rose to $78.8 million from $74.0 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.41 per share on revenues of $78.48 million for the quarter. Analysts' estimates typically excluded special items.

Further, the company declared a special cash dividend of $0.40 per share and a quarterly cash dividend of $0.06 per share, both payable in July 2015.