Culp regains compliance with New York Stock Exchange standards

Shareholders' equity and market capitalization levels have improved

Furniture Today Staff -- Furniture Today, February 2, 2010

HIGH POINT — Fabric supplier Culp Inc. said it had been notified by the New York Stock Exchange that the company has regained compliance with the stock exchange's listing standards.

Culp was notified in December 2008 that is might be de-listed from the exchange because its shareholders' equity and market capitalization levels had fallen below NYSE minimums.

Since the notification, however, those figures have improved significantly as Culp's earnings have improved and the company's stock price has topped $13 per share. The stock was trading for about $2 per share when the notification was issued.