Culp Regains Compliance with NYSE Listing Standards

February 1, 2010  by in UnCategorized   

By Home Furnishings Business in on February 2, 2010 Fabric and mattress ticking supplier Culp received notification Jan. 29 that it has regained compliance with the New York Stock Exchange quantitative continued listing standards.

The company had fallen below both the minimum shareholders' equity and market capitalization requirements for continued listing on the exchange. In December, 2008, NYSE notified Culp that it was out of compliance because the company's capitalization fell below $75 million over a 30-day trading period.

The company said its reinstatement to compliance comes as a result of the a consistent, positive performance commensurate with the business plan submitted to the NYSE, and its compliance with the NYSE's minimum market capitalization and shareholders' equity requirements over the past two quarters.