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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
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Date of Report (Date of earliest event reported) March 31, 2003
CULP, INC.
(Exact name of registrant as specified in its charter)
North Carolina 0-12781 56-1001967
(State or other jurisdiction of (Commission File No.) (IRS Employer
incorporation) Identification No.)
101 South Main Street
High Point, North Carolina 27260
(Address of principal executive offices)
(336) 889-5161
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
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Item 9. Regulation FD Disclosure
Culp, Inc. (the "company") issued a press release dated March 31, 2003
disclosing corporate plans about a strategic marketing initiative in China. A
copy of the release is attached hereto as Exhibit 99.
This Report (and the Exhibit hereto) contains statements that may be deemed
"forward-looking statements" within the meaning of the federal securities laws,
including the Private Securities Litigation Reform Act of 1995 (Section 27A of
the Securities Act of 1933 and Section 27A of the Securities and Exchange Act
of 1934). Such statements are inherently subject to risks and uncertainties.
Further, forward-looking statements are intended to speak only as of the date
on which they are made. Forward-looking statements are statements that include
projections, expectations or beliefs about future events or results or
otherwise are not statements of historical fact. Such statements are often
but not always characterized by qualifying words such as "expect," "believe,"
"estimate," "plan" and "project" and their derivatives, and include but are not
limited to statements about expectations for the company's future operations,
production levels, sales, expenses and other performance measures. Factors
that could influence the matters discussed in such statements include the
level of housing starts and sales of existing homes, consumer confidence,
trends in disposable income, and general economic conditions. Decreases in
these economic indicators could have a negative effect on the company's
business and prospects. Likewise, increases in interest rates, particularly
home mortgage rates, and increases in consumer debt or the general rate of
inflation, could affect the company adversely. Because of the significant
percentage of the company's sales derived from international shipments,
strengthening of the U. S. dollar against other currencies could make the
company's products less competitive on the basis of price in markets outside
the United States. Additionally, economic and political instability in
international areas could affect the demand for the company's products. Other
risk factors that could have an impact on the company's activities in China
include uncertainties in connection with operating in a geographic area and
business culture where the company does not have extensive experience, foreign
language barriers, potential delays caused by the distance between the China
operations and the company's traditional geographic base and similar risks
associated with establishing business operations in a remote and unfamiliar
location. Other factors that could affect the matters discussed in
forward-looking statements are included in the company's periodic reports
filed with the Securities and Exchange Commission.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CULP, INC.
(Registrant)
By: Franklin N. Saxon
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Executive Vice President and
Chief Financial Officer
Dated: March 31, 2003