FREE Daily Stock Alerts From Stock-PR.com
Culp Announces Results for Second Quarter Fiscal 2012
Culp, Inc. (NYSE: CFI) reported financial and operating results for the second quarter of fiscal 2012 ended October 30, 2011.
For the quarter ended October 30, 2011, net sales were $58.0 million, a 19 percent increase compared with $48.9 million a year ago. The company reported net income of $6.3 million, or $0.49 per diluted share, for the second quarter of fiscal 2012, compared with net income of $4.0 million, or $0.30 per diluted share, for the second quarter of fiscal 2011. Net income for the second quarter of 2012 included an income tax benefit of $3.4 million, while net income for the previous year period included an $801,000 income tax benefit. The income tax benefit for the second quarter of fiscal 2012 includes a $4.4 million non-cash reversal of a portion of a valuation allowance against net deferred tax assets in the United States. The company's overall adjusted effective income tax rate as of the second quarter of fiscal 2012 was 18.0 percent compared with 15.4 percent for the second quarter of fiscal 2011. On a pre-tax basis, the company reported income of $2.9 million compared with pre-tax income of $3.2 million for the second quarter of fiscal 2011.
Read full article at: http://stock-pr.com/?p=20824
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!
Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. Stock-PR.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold Stock-PR.com report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at http://stock-pr.com/disclaimer).Crown Equity Holdings Inc. (CRWE.OB) is a media-advertisement and newswire company.Crown Equity Holdings Inc. (CRWE.OB), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (CRWE.OB) advertises for a particular client, Crown Equity Holdings Inc. (CRWE.OB) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period.