Culp, Inc. yesterday announced that, based on quarterly results to date and current estimates, overall sales for the third quarter of fiscal 2010 ending January 31, 2010, are now expected to be up approximately 18 percent over the prior year period (third quarter fiscal 2009). Mattress fabrics segment sales are expected to be up approximately seven percent and upholstery fabrics segment sales are expected to be up approximately 34 percent over the prior year period. These projected results compare with previously announced expectations of a five percent sales increase for the company as a whole and for each business segment. The company currently expects pre-tax income to be in the range of $3.4 to $3.8 million for the third quarter. These projected results are higher than the company’s previously announced expectation of $2.1 to $2.9 million for the current quarter.

Commenting on the announcement, Frank Saxon, president and chief executive officer of Culp, Inc., said, “Our projected financial results for the third quarter of fiscal 2010 reflect better sales growth than anticipated, primarily in our upholstery fabrics business. Our mattress fabrics business has continued to perform well, up slightly from previous expectations. During the third quarter we have seen a greater improvement in upholstery fabrics performance due to favorable results from our sales and marketing initiatives and an improved macro environment. While we are pleased with the progress we are making, we remain cautious about the outlook for future demand trends in the home furnishings industry.”

The company expects to report financial and operating results for the third quarter of fiscal 2010 ending January 31, 2010, during the first week of March. Culp’s fiscal year 2010 runs from May 3, 2009 through May 2, 2010.

Culp, Inc. is one of the world's largest marketers of mattress fabrics for bedding and upholstery fabrics for furniture. The company's fabrics are used principally in the production of bedding products and residential and commercial upholstered furniture.