Culp, Inc. (NYSE: CFI) is one of the world’s largest marketers of mattress fabrics for bedding and upholstery fabrics for furniture. The fabrics from Culp are used principally in the production of bedding products and residential and commercial upholstered furniture.
Culp, Inc. yesterday reported financial and operating results for the second quarter of fiscal 2012 ended October 30, 2011. Highlights for the second quarter of fiscal 2012 include the following. Net sales were $58.0 million, a 19 percent increase compared with the second quarter of fiscal 2011, with mattress fabrics segment sales up 24 percent and upholstery fabric segment sales up 11 percent over the same period a year ago. Pre-tax income was $2.9 million, or 4.9 percent of sales, compared with $3.2 million, or 6.5 percent of sales, in the prior year period. Net income was $6.3 million, or $0.49 per diluted share, 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.
Year to date sales were $118.3 million, up 13 percent from the same period a year ago, with mattress fabrics segment sales up 14 percent and upholstery fabrics segment sales up 12 percent over the same period a year ago. Year to date pre-tax income was $5.8 million, or 4.9 percent of sales, compared with $7.5 million, or 7.1 percent of sales for the same period last year. Year to date net income was $8.1 million, or $0.62 per diluted share, compared with net income of $7.7 million, or $0.59 per diluted share, for the same period a year ago. Year to date net income included a $2.2 million income tax benefit, while net income for the previous year period included an income tax benefit of $270,000. The projection for third quarter fiscal 2012 is for overall sales to increase approximately two to six percent. Pre-tax income for the third quarter of fiscal 2012 is expected to be in the range of $1.9 to $2.8 million.
For more information about Culp, please visit www.culpinc.com
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The Central Europe and Russia Fund, Inc. (NYSE:CEE) announced that the estimated amount of its annual long term capital gain distribution is $2.10 per share. The distribution will be paid in stock except that any stockholder may elect to receive such distribution in cash. The final amount of the distribution, along with the amount of a dividend from net investment income and applicable ex-date, record and payable dates will be announced in December 2011. The Fund does not expect to distribute any short-term capital gains.
Central Europe and Russia Fund, Inc. is a closed-ended equity mutual fund launched by Deutsche Investment Management Americas Inc.
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Gardner Denver Inc. (NYSE:GDI) declared a regular quarterly dividend of five cents per share for the fourth quarter of 2011. The fourth quarter dividend is payable December 20, 2011, to shareholders of record as of December 2, 2011.
Gardner Denver, Inc. designs, manufactures, and markets engineered industrial machinery and related parts and services primarily in North America, Europe, Asia, South America, Africa, and Australia.
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Crown Equity Holdings Inc., (CRWE)
CRWE’s digital network is designed, on behalf of its clients, to bring together targeted high-income audiences and advertisers on its financial websites that include, among others, DrStockPick.com, PennyOmega.com, BestOtc.com, CRWEFinance.com, CRWESelect.com, CRWEPicks.com and StockHotTips.com.
The Internet’s vast reach can allow advertisers to reach significantly more people than traditional advertising media at a fraction of the cost. Internet advertising is ideal for businesses with a national or international target market and large-scale distribution capabilities. As a rule, the more people your business serves, the most cost-efficient internet advertising can be. Internet advertising can also be more targeted than some traditional media, ensuring that your messages are seen by the most relevant audiences.
Crown Equity Holdings Inc., together with its digital network, currently provides electronic media services specializing in online publishing, which brings together targeted audiences and advertisers.
Crown Equity Holdings Inc. offers internet media-driven advertising services, which covers and connects a range of marketing specialties, as well as search engine optimization for clients interested in online media awareness.
Crown Equity Holdings Inc. (CRWE.OB) announced that its subsidiary Crown Tele Services Inc. has entered into a letter of intent with AVIX Technologies, Inc., which sets forth terms by which AVIX Technologies, Inc. will acquire an exclusive licensing agreement for Canada and a non-exclusive global licensing agreement in the hospitality, foodservice and tourism industries for telecommunications including VoIP (Voice Over Internet Protocol) telecom technology systems for residential and commercial services, calling card and cellular phone applications.
Crown Tele Services Inc. is a provider of affordable, world class (VoIP) communications solutions and is a wholly owned subsidiary of Crown Equity Holdings Inc.
Crown Equity Holdings Inc. offers advertising branding and marketing services as a worldwide online multi-media publisher with its digital network of websites and focuses on the distribution of information for the purpose of bringing together a targeted audience and the advertisers that want to reach them. Its advertising services cover and connect a range of marketing specialties, as well as provide search engine optimization for clients interested in online media awareness.
For more information about Crown Tele Services, Inc., please visit: www.crownteleservices.com
VoIP saves money spent on long distance phone calls while promoting bandwidth data capacity and telephony efficiency. Since consumers are always looking at where they can cut costs and improve quality, VoIP (Voice over Internet Protocol) becomes a likely candidate for voice services. By using a phone adaptor (ATA), the VoIP (Voice over Internet Protocol) technology can travel anywhere where the user can connect to a broadband connection.
For more information, please visit their website: http://www.crownequityholdings.com
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Apache Corp. (NYSE:APA) has declared regular cash dividends on the company’s common shares and 6% Mandatory Convertible Preferred Stock, Series D. The dividend on the common shares is payable on Feb. 22, 2012 , to stockholders of record on Jan. 23, 2012 , at the rate of 15 cents per share.
Apache Corporation, together with its subsidiaries, operates as an independent energy company. It engages in the exploration, development, and production of natural gas, crude oil, and natural gas liquids (NGLs).
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