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CULP REPORTS GAINS FOR SECOND QUARTER SIX MONTHS RESULTS REFLECT INCREASED SALES AND EARNINGS

 HIGH POINT, N.C., Nov. 23 /PRNewswire/ -- Culp, Inc. (NASDAQ-NMS: CULP) today reported higher sales and earnings for the second quarter and first half of the company's 1994 fiscal year.
 For the three months ended October 31, 1993, Culp reported net sales of $54.0 million compared with $50.7 million a year ago. Net income for the quarter totaled $1.8 million, or $0.25 per share, up sharply from $655,000, or $0.09 per share, in the second quarter of fiscal 1993.
 The gains for the second quarter brought net sales for the first half to $100.6 million versus $96.5 million in the first six months of fiscal 1993. Net income for the first half was $2.7 million, or $0.37 per share, up from $1.3 million, or $0.17 per share, in the year-earlier period.
 The per share figures for the second quarter and first half of fiscal 1993 have been adjusted to reflect the 25% stock dividend distributed in July 1993.
 "The favorable momentum in demand that developed toward the end of the first quarter extended into the second period," said Robert G. Culp, III, chief executive officer. "The overall trend in incoming orders has continued to strengthen. Our current backlog in both upholstery fabrics and mattress ticking suggests a positive outlook for further progress during the second half of the current fiscal year."
 Culp commented on the noticeable gain in earnings for both the second quarter and first half. He said, "Our ongoing programs to raise productivity and reduce expenses are generating a sound return. We are gratified by the tangible results of these efforts which are a key component of our company-wide commitment to establish and meet high standards for customer service.
 "Because of the timing of the transaction, the recently acquired operations of Rossville/Chromatex made no contribution to our results for the second quarter. The response of customers has been very supportive of this strategic move for Culp. Having these additional resources enhances the company's basic competitive position, and we are excited about the future opportunities for working closer with current accounts as well as broadening our sales base."
 Culp, Inc. is a leading manufacturer and marketer of fabrics for the furniture, bedding, and institutional furnishings markets. The company's common shares are traded on The Nasdaq Stock Market (National Market) under the symbol CULP.
 CULP, INC.
 Condensed Financial Highlights
 (Unaudited)
 Three Months Ended
 October 31, November 1,
 1993 1992
 Net sales 53,986,000 50,716,000
 Net income 1,830,000 655,000
 Earnings per share 0.25 0.09
 Six Months Ended
 October 31, November 1,
 1993 1992
 Net sales 100,569,000 96,498,000
 Net income 2,690,000 1,257,000
 Earnings per share 0.37 0.17
 -0- 11/23/93
 /CONTACT: Frank Saxon, vice president and chief financial officer, of Culp, 919-888-6266/
 (CULP)


CO: Culp, Inc. ST: North Carolina IN: TEX SU: ERN

MM -- CH001 -- 7125 11/23/93 08:31 EST
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Date:Nov 23, 1993
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