SELECTED QUARTERLY DATA (UNAUDITED)
	fiscal 2020			fiscal 2020			fiscal 2020			fiscal 2020			fiscal 2019			fiscal 2019			fiscal 2019			fiscal 2019
(amounts in thousands except per share, ratios &	fourth			thjird			second			first			fourth			thjird			second			first
other, stock data)	quarter			quarter			quarter			quarter			quarter			quarter			quarter			quarter
INCOME STATEMENT DATA
net sales	$	47,378			68,518			69,550			70,719			67,023			73,127			72,275			68,898
cost of sales		(44,333	)		(56,998	)		(56,024	)		(58,307	)		(55,828	)		(60,054	)		(60,666	)		(58,998	)
gross profit from continuing operations		3,045			11,520			13,526			12,412			11,195			13,073			11,609			9,900
selling, general and administrative expenses		(7,327	)		(8,831	)		(9,117	)		(9,149	)		(8,758	)		(8,677	)		(8,409	)		(7,397	)
asset impairments		(13,712	)		—			—			—			—			—			—			—
restructuring (credit) expense		—			35			—			35			—			214			1,061			(451	)
(loss) income from continuing operations		(17,994	)		2,724			4,409			3,298			2,437			4,610			4,261			2,052
interest expense		(84	)		—			(21	)		—			—			—			(14	)		(17	)
interest income		121			258			258			260			221			259			155			150
other expense		(426	)		(282	)		(99	)		(95	)		(670	)		(294	)		(164	)		(254	)
(loss) income before income taxes from continuing operations		(18,383	)		2,700			4,547			3,463			1,988			4,575			4,238			1,931
income tax (expense) benefit		(704	)		973			(1,930	)		(1,692	)		(3,091	)		(1,274	)		(1,270	)		(906	)
(loss) income from investment in unconsolidated joint venture		(65	)		(56	)		(16	)		13			(5	)		23			(55	)		(77	)
net (loss) income from continuing operations		(19,152	)		3,617			2,601			1,784			(1,108	)		3,324			2,913			948
(loss) income before income taxes from discontinued operation		(8,698	)		(7,824	)		(441	)		(621	)		(477	)		(313	)		37			17
income tax benefit (expense)		25			—			32			11			74			49			(6	)		—
net (loss) income from discontinued operation		(8,673	)		(7,824	)		(409	)		(610	)		(403	)		(264	)		31			17
net (loss) income	$	(27,825	)		(4,207	)		2,192			1,174			(1,511	)		3,060			2,944			965
depreciation	$	1,946			1,987			1,988			1,905			2,030			2,031			2,041			2,015
weighted average shares outstanding		12,297			12,409			12,408			12,399			12,384			12,438			12,515			12,510
weighted average shares outstanding , assuming dilution		12,297			12,420			12,408			12,410			12,384			12,465			12,551			12,600
PER SHARE DATA
net (loss) income from continuing operations per share - basic	$	(1.56	)		0.29			0.21			0.14			(0.09	)		0.27			0.23			0.08
net (loss) income from continuing operations per share - diluted		(1.56	)		0.29			0.21			0.14			(0.09	)		0.27			0.23			0.08
net (loss) income from discontinued operation per share - basic		(0.71	)		(0.63	)		(0.03	)		(0.05	)		(0.03	)		(0.02	)		—			—
net (loss) income from discontinued operation per share - diluted		(0.71	)		(0.63	)		(0.03	)		(0.05	)		(0.03	)		(0.02	)		—			—
net (loss) income per share - basic		(2.26	)		(0.34	)		0.18			0.09			(0.12	)		0.25			0.24			0.08
net (loss) income per share - diluted		(2.26	)		(0.34	)		0.18			0.09			(0.12	)		0.25			0.24			0.08
book value		10.56			12.93			13.01			12.91			12.91			13.16			13.04			12.90
BALANCE SHEET DATA
operating working capital (3)	$	49,389			58,862			48,220			48,662			47,736			50,997			48,776			50,884
property, plant and equipment, net		43,147			44,652			45,221			45,475			46,479			48,144			49,243			51,037
total assets		215,084			212,140			233,522			226,247			220,556			225,738			223,041			227,122
capital expenditures		462			1,431			1,831			909			295			835			590			1,255
dividends paid		1,289			1,304			1,241			1,241			1,239			1,240			1,126			1,127
lines of credit and Paycheck Protection Program loan (1)		38,371			—			—			—			—			—			—			4,000
shareholders' equity attributable to Culp Inc.		129,698			159,843			161,520			160,146			159,933			162,775			162,918			161,490
capital employed (2)		94,526			116,181			107,018			107,832			107,561			112,599			112,403			116,743
RATIOS & OTHER DATA
gross profit margin from continuing operations	6.4%			16.8%			19.4%			17.6%			16.7%			17.9%			16.1%			14.4%
operating income margin from continuing operations	(38.0%)			4.0%			6.3%			4.7%			3.6%			6.3%			5.9%			3.0%
net (loss) income margin from continuing operations	(40.4%)			5.3%			3.7%			2.5%			(1.7%)			4.5%			4.0%			1.4%
effective income tax rate associated with continuing operations	(3.8%)			(36.0%)			42.4%			48.9%			155.5%			27.8%			30.0%			46.9%
Debt-to-total capital employed ratio (1) (2)	40.6%			0%			0%			0%			0%			0%			0%			3.4%
operating working capital turnover (3)		5.1			5.4			5.7			5.7			5.7			5.9			6.2			6.6
days sales in receivables		48			33			30			30			33			30			29			32
inventory turnover		3.5			4.3			4.5			4.9			4.5			5.1			5.1			4.4
STOCK DATA
stock price
high	$	12.93			16.92			17.49			21.08			21.06			23.84			27.78			32.05
low		5.87			12.35			13.09			16.41			17.05			18.06			21.04			23.90
close		6.91			12.63			15.35			17.39			20.74			18.47			22.31			24.75
daily average trading volume (shares)		75.9			41.6			31.4			23.5			35.6			43.3			29.8			27.0

(1)	Debt represents outstanding borrowings on our lines of credit and the Paycheck Protection Program loan.

(2)

Capital employed does not include cash and cash equivalents, short-term investments-held-to-maturity, short-term investments-available for sale, long-term investments – rabbi trust, long-term investments-held-to-maturity, noncurrent deferred income tax assets and liabilities, current and noncurrent income taxes receivable and payable, lines of credit, Paycheck Protection Program loan, deferred compensation, and financial statement line items associated with our discontinued operation.

(3)	Operating working capital includes accounts receivable and inventories, less accounts payable-trade, accounts payable-capital expenditures, and deferred revenue.