Nova LifeStyle, Inc. Reports First Quarter FY 2022 Results

LOS ANGELES, Could 13, 2022 (Globe NEWSWIRE) — Nova Way of life, Inc. (NASDAQ: NVFY) (“Nova LifeStyle” or the “Company”) currently introduced monetary success for the initial quarter ended March 31, 2022.

Vital Fiscal Highlights:

• Net product sales for three months ended March 31, 2022 were $3.67 million, an maximize of 10% from $3.33 million in the similar time period of 2021.
• Net decline for the 3 months ended March 31, 2022 was $.86 million, as in contrast to a internet decline of $.76 million in the similar period of time of 2021.

Tawny Lam, Chairperson and Chief Govt Officer of Nova Life style, said, “The quarter observed the Organization development on strategy and within just our spending plan as we aggressively pursue new revenue chances and get again to our typical operations. We celebrated our 30th calendar year in the house furnishings field and launched our 30th Anniversary Assortment and a 112-page merchandise catalog in the course of the to start with quarter. We feel these endeavours will get started substantial improve and expansion as we system to start our one biggest selection at the 2022 Summer season Edition of Las Vegas Marketplace this coming July.”

“Our doing the job cash placement and stock levels placement us to satisfy orders swiftly for prospects when capitalizing on inventory shortages that some of our rivals may well be going through,” concluded Ms. Lam.

About Nova Lifestyle

Nova Life-style, Inc. is a effectively-set up, progressive designer and distributor of present day way of life home furniture principally sofas, dining space furniture, cabinets, place of work home furnishings and associated elements, bedroom furnishings, jade mats and several equipment, in matching collections. Nova LifeStyle’s product or service strains consist of the Nova Models and Diamond Couch (www.diamondsofa.com). Nova’s goods function urban contemporary types that integrate comfort and ease and features, incorporating upscale luxurious types which attraction to center and higher middle-income consumers in the USA, China, Southeast Asia, South The united states, and elsewhere in the entire world. Visit Nova LifeStyle’s website at www.NovaLifeStyle.com.

Ahead-Hunting Statements

This press launch could consist of forward-hunting statements within the that means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Trade Act of 1934, as amended, like, amongst some others, our capacity to completely resume our functions and continue being economically balanced, our anticipated long run expansion prospects. All statements other than statements of historical actuality are, or may perhaps be deemed to be, forward-hunting statements. In some scenarios, ahead-looking statements can be determined by the use of ahead-searching terms this sort of as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the destructive of these terms or other similar terms. Nevertheless, the absence of these phrases does not indicate that the statements are not ahead-hunting. These ahead-looking statements are primarily based on certain assumptions and analyses designed by us in light-weight of our expertise and our perception of historic traits, existing conditions and predicted potential developments, as very well as other elements we consider are ideal in the circumstances.

Trader Relations Get hold of
Andrew Barwicki
516-662-9461
[email protected]
[email protected]