Culp Announces First Quarter Results for Fiscal 2009

Tag : Woven & Knit Fabric
This release contains statements that may be deemed"forward-looking statements" within the meaning ofthe federalsecurities laws, including the Private Securities Litigation ReformAct of 1995 (Section 27A of the Securities Act of 1933 and Section27A of the Securities and Exchange Act of 1934). Such statementsare inherently subject to risks and uncertainties. Further,forward-looking statements are intended to speak only as ofthe dateon which they are made. Forward-looking statements are statementsthat include projections, expectations or beliefs about futureevents or results or otherwise are not statements of historicalfact. Such statements are often but not always characterized byqualifying words such as "expect," "believe," "estimate," "plan"and "project" and their derivatives, and include but are notlimited to statements about the Company's future operations,production levels, sales, SG&A or other expenses, margins, grossprofit, operating income, earnings or other performance measures.Factors that could influence the matters discussed in suchstatementsinclude the level of housing starts and sales of existinghomes, consumer confidence, trends in disposable income, andgeneral economic conditions. Decreases in these economic indicatorscould have a negative effecton the Company's business andprospects. Likewise, increases in interest rates, particularly homemortgage rates, and increases in consumer debt or the general rateof inflation, could affect the Company adversely. Changes inconsumer tastes or preferences toward products not produced by theCompany coulderode demand for the Company's products. Strengtheningof the U.S. dollar against other currencies could make theCompany's products less competitive on the basis of price inmarkets outside the United States, and strengthening of currenciesin Canada and China can have a negative impact on the Company'ssales in the U.S.of products produced in those countries. Also,economic and political instability in international areas couldaffectthe Company's operations or sources of goods in those areas,as well as demand for the Company's products in internationalmarkets. Also, the level of success in integrating the acquisitionof assets from Bodet& Horst will affect the Company's ability tomeet its profitability goals. Finally, unanticipated delays orcosts in executing restructuring actions could cause the cumulativeeffect of restructuring actions to fail to meet the objectives setforth by management. Other factors that could affect the mattersdiscussed in forward-looking statements are included in theCompany's periodic reports filed with the Securities and ExchangeCommission, including the "Risk Factors" section in the Company'smost recent annual report of Form 10-K filed with the Securitiesand Exchange Commission on July 9, 2008, for the fiscal year endedApril 27, 2008.