Culp, Inc., a global supplier of fabrics for mattresses and upholstery, released an annual letter to shareholders Thursday that detailed a number of headwinds the company faced.

The company cited low-priced mattresses from China and international tariffs as affecting operating results. Additionally, the death of the company’s founder Rob Culp III led to a “tumultuous” year.

Culp says it anticipates soft retail demand trends and the uncertainty around tariffs to continue through the early part of fiscal 2020.

The results have led the company to expand production in Haiti and China to meet customer demand and develop strategic supplier relationships in Vietnam.

Culp, Inc. generated cash flow from operations of $13.9 million and free cash flow of $11.5 million for fiscal 2019. Mattress fabric sales were down 24.6 percent for the year primarily a result of high volume of low-priced Chinese mattresses.

The company’s upholstery fabrics sales were up 3.5 percent for fiscal 2019 from fiscal 2018, likely supported by the acquisition of Read Window Products, but partially offset by the closure of the Anderson, South Carolina site.

Shares of Culp, Inc. closed at $14.01 on Friday, down 81 cents.