Latest news with #Culp
Business Wire
18 hours ago
- Business
- Business Wire
Culp, Inc. to Webcast Fourth Quarter and Fiscal 2025 Conference Call
HIGH POINT, N.C.--(BUSINESS WIRE)--Culp, Inc. (NYSE: CULP) today announced that it will provide an online, real-time webcast and rebroadcast of its fourth quarter and fiscal 2025 conference call on Thursday, June 26, 2025, at 9:00 a.m. ET. During this call, Culp will review the company's financial and operating results for the fourth quarter and fiscal year ended April 27, 2025. A press release announcing these results will be issued after the close of market trading on Wednesday, June 25, 2025. The live webcast of Culp's conference call will be available under the 'Upcoming Events' section on the Investor Relations page of the company's website, on Thursday, June 26, 2025, beginning at 9:00 a.m. ET. An online replay of the call will be available under the 'Past Events' section on the Investor Relations page of the company's website for 30 days. Culp, Inc. is one of the largest marketers of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture in North America. The company markets a variety of fabrics to its global customer base of leading bedding and furniture companies, including fabrics produced at Culp's manufacturing facilities and fabrics sourced through other suppliers. Culp has manufacturing and sourcing capabilities located in the United States, China, Haiti, Turkey, and Vietnam.
Yahoo
12-06-2025
- Business
- Yahoo
County Council wants meeting to discuss use of interest revenue
ANDERSON — The Madison County Council is planning to meet with the county commissioners to develop a strategy concerning the Cumulative Capital Improvements and Asset fund. Earlier this year the Madison County Board of Finance voted to place all of the interest earned on county general fund investments into the fund. The commissioners placed $1.2 million into the fund, but several members of the council believed control over the funds rested within their purview. Approximately $100,000 has been appropriated for repairs to the Bronnenberg Chapel by the commissioners. The Indiana State Board of Accounts has agreed that the Madison County Board of Finance determines where interest funds can be deposited. Council President Scott Green said Tuesday the intention to develop a strategy will involve a meeting to include Jodi Norrick, council vice president, council attorney Bob Clutter with the commissioners and county attorney Jeff Graham. Councilwoman Kristi Grabowski said she wanted more feedback on who controls the interest earnings and recommended getting an opinion from the Indiana Department of Local Government Finance. One of the issues to be resolved is a request from Madison County Sheriff John Beeman for $50,000 to purchase body armor for deputies. Clutter said the state statute authorizing a Cumulative Capital Improvement Fund allows for the purchase of the body armor with the funds. 'The commissioners can appropriate the money,' Clutter said. Sheriff Beeman would have to request the funding for the body armor from the commissioners. Auditor Todd Culp said all the interest earned by the county's general fund investment goes into the Cumulative Capital Improvement and Assets fund. OTHER BUSINESS Culp said the county recently received $2.2 million from the state in local option income tax revenues. He said normally the county receives $1 million per month in local income tax revenues. Culp said the state holds tax collections in reserve until it reaches a certain percentage and the funds are released to the counties. He raised a 2026 budget concern as a result of the 11-year cycle of a 27th pay period for county employees. Culp said the council should include in the 2026 budget funds for the additional pay period in the amount of $1.3 million. He recommended the council fund the 27th pay period from the Rainy Day fund, which has already earned $588,000 in interest this year. Culp said by the end of the year, the Rainy Day fund should have a balance of $18 million. Green said the council hopes to have a draft 2026 budget in place in July after council members have meet with department heads. Culp asked that the council determine if a pay raise for county employees will be included in the budget early in the process. 'Make the decision early in the process rather than at the end of the budgeting process,' he said.
Business Insider
10-06-2025
- Business
- Business Insider
Culp, Inc. enters into multi-year agreement with biggest shareholder
Culp, Inc. (CULP) announced that it has entered into a new, multi-year cooperation agreement with its largest shareholder, Seattle-based 22NW, LP. Among other voting, governance and standstill provisions, 22NW will provide its voting support to CULP at its 2025 and 2026 Annual Meetings of Shareholders pursuant to the agreement. In addition, new independent director candidates, Doug Collier and Lynn Heatherton will be nominated for election to the Company's board of directors at its 2025 and 2026 Annual Meetings of Shareholders along with Alexander B. Jones of 22NW, who joined the board in 2024 as part of an agreement between CULP and 22NW. The current size of the Company's board of directors will not be increased in connection with these nominations. Robert G. Culp, IV, President and Chief Executive Officer of CULP, commented, 'This new cooperation agreement with 22NW will provide support for CULP's management, employees and customers and, once again, demonstrates our willingness and ability to work constructively with investors to generate positive outcomes for all stakeholders.' Confident Investing Starts Here:
Business Wire
09-06-2025
- Business
- Business Wire
Culp Enters Into Multi-Year Agreement With Largest Shareholder
HIGH POINT, N.C.--(BUSINESS WIRE)--Culp, Inc. (NYSE: CULP), a leading provider of fabrics for bedding and upholstery fabrics for residential and commercial furniture, announced today that it has entered into a new, multi-year cooperation agreement with its largest shareholder, Seattle-based 22NW, LP. Among other voting, governance and standstill provisions, 22NW will provide its voting support to CULP at its 2025 and 2026 Annual Meetings of Shareholders pursuant to the agreement. In addition, new independent director candidates, Doug Collier and Lynn Heatherton will be nominated for election to the Company's board of directors at its 2025 and 2026 Annual Meetings of Shareholders along with Alexander B. Jones of 22NW, who joined the board in 2024 as part of an agreement between CULP and 22NW. The current size of the Company's board of directors will not be increased in connection with these nominations. Robert G. Culp, IV, President and Chief Executive Officer of CULP, commented, 'This new cooperation agreement with 22NW will provide support for CULP's management, employees and customers and, once again, demonstrates our willingness and ability to work constructively with investors to generate positive outcomes for all stakeholders.' Aron R. English, Portfolio Manager and Founder of 22NW, commented, 'CULP is an important investment for 22NW, and we welcome the opportunity to support the Company as it positions itself for future growth opportunities.' The complete agreement between CULP and 22NW will be filed with the SEC as an exhibit to a form 8-K. About the Company Culp, Inc. is one of the largest marketers of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture in North America. The company markets a variety of fabrics to its global customer base of leading bedding and furniture companies, including fabrics produced at Culp's manufacturing facilities and fabrics sourced through other suppliers. Culp has manufacturing and sourcing capabilities located in the United States, China, Haiti, Turkey, and Vietnam.
India.com
09-06-2025
- Business
- India.com
Bad news for Pakistan and China; India to soon get latest 5th generation fighter jets, they will be..., Tejas to...
(Representational image) New Delhi: American company General Electric (GE) wants to join the race to make engines for India's 5th generation fighter aircraft. GE Chairman and CEO Larry Culp said this in an interview to ET. He said that India is a very important market for GE for both civil and defense aerospace business. Larry Culp said, 'We are very interested in this.' For this, he gave the example of making 404 engines for the indigenous Tejas aircraft. He said that there is a very strong relationship between India and America and that's why GE is here and is ready to help in every possible way. 5th generation indigenous fighter aircraft Just last month, India announced the plan to rapidly build 5th generation indigenous fighter aircraft. This announcement came a few days after Operation Sindoor against Pakistan. The most important part of this aircraft will be its powerful engine. To make it, India can work with a foreign company. It is believed that for this work, GE will face competition from companies like Safran and Rolls-Royce. Tejas Mark-1A fighter aircraft Larry Culp has expressed his desire to do more work in India. GE is also increasing the delivery of jet engines for the Tejas Mark-1A fighter aircraft to Hindustan Aeronautics Limited. This work has been stalled for a long time. In March, GE delivered the first of the 99 F-404 engines to HAL. This delivery was delayed by almost two years. Culp said, 'This is our intention and we have told this to everyone.' They are working closely with their suppliers so that they can make more engines. He said that good progress is being made in this matter. They have seen a good increase in engine deliveries in the months of April and May as compared to the first quarter. Demand and supply Indian Air Force (IAF) Chief Air Chief Marshal AP Singh had recently expressed concern over the delay in the purchase of necessary military equipment and he had insisted on setting a time limit for this. Actually, the availability of military equipment and fighter jets is getting delayed because companies are not able to increase production. This causes difficulties for the armed forces in their preparation. Culp said that many steps are being taken to overcome this problem, but it will take time. He said that the demand is increasing every year, so the supply chain problem will remain for some time and it is a big challenge.
