Culp Q1 FY2027 sales up 6.5% to $54M; net income $6M vs loss; net debt down 70%

CULP INC

Consolidated net sales $54.0M, up 6.5% YoY; bedding segment sales up 13.2% to $31.8M despite one less selling week.
GAAP net income $6.0M ($0.47 diluted EPS) vs net loss $231K; adjusted EBITDA $566K vs negative $938K.
Net debt reduced over 70% to $3.1M from $10.9M at FY2026 year-end; cash $10.2M, total liquidity $29.4M.
Adjusted gross profit $8.4M (15.6% of sales) up ~17% YoY; adjusted operating loss narrowed to $271K from $1.9M.
Q2 guidance: expects break-even operating income, consistent sequential sales, continued net debt improvement.

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