Nova LifeStyle Announces Record Summer 2017 Financial Results; Celebrates 25 Years in Business
11 September 2017 - 1:45PM
Nova LifeStyle, Inc. (NASDAQ:NVFY) or (the
“Company,” "Nova"), a U.S.-based innovative designer and
distributor of modern LifeStyle products is pleased to announce
record financial profit for the summer months of 2017. The Company
also celebrated subsidiary Diamond Sofa’s 25th year in business and
launched new product lines during a highly successful 2017 summer
Las Vegas trade show.
Photos accompanying this announcement are available
at
http://www.globenewswire.com/NewsRoom/AttachmentNg/6a3c596d-8f27-42cb-887c-90006b6f7fad
http://www.globenewswire.com/NewsRoom/AttachmentNg/ab49e735-37dc-4cc7-b00d-2263023d0090
http://www.globenewswire.com/NewsRoom/AttachmentNg/a4ca843a-ace8-4532-8207-780c1f1964f8
Due to strong customer demand, the Company
generated approximately $1 million monthly in net profit during the
summer months (June, July and August) of 2017. Nova anticipates the
growth rate to continue throughout the year after a very successful
Las Vegas World Market Show. The Company has a strong balance sheet
with sufficient cash flow for future growth initiatives.
Nova has recently introduced many new products,
including the Chateau, Crawford, Marquee, and Melrose collections.
Nova has also met with several large global buyers that have
expressed strong interest in initiating or expanding product
purchases from Nova.
Tawny Lam, Nova LifeStyle’s Chief Executive
Officer, said, “As we celebrate Diamond Sofa's 25th anniversary, we
are pleased to report that the Summer 2017 Las Vegas Market was a
great success for Nova. We are seeing solid growth trends in our
business along with healthy profit margins. We hope to
significantly expand online sales by partnering with E-commerce
giants such as Amazon.com, Hayneedle.com and others."
For more information about Nova LifeStyle products
and brands please visit http://www.novalifestyle.com or
http://www.diamondsofa.com.
About Nova LifeStyleNova
LifeStyle, Inc., a NASDAQ Global Market listed company
headquartered in California, is a fast growing,
innovative designer, manufacturer and distributor of modern
LifeStyle furniture; primarily sofas, dining rooms, cabinets,
office furniture and related components, bedrooms, and various
accessories in matching collections. Visit Nova's website:
www.NovaLifeStyle.com.
Safe Harbor StatementAll
statements in this press release that are not historical are
forward-looking statements made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
There can be no assurance that actual results will not differ from
the company's expectations. You are cautioned not to place undue
reliance on any forward-looking statements in this press release as
they reflect Nova's current expectations with respect to future
events and are subject to risks and uncertainties that may cause
actual results to differ materially from those contemplated.
Potential risks and uncertainties include, but are not limited to,
the risks described in Nova's filings with the Securities and
Exchange Commission.
Company Contact:Investor
Relations:The Equity Group Inc.In U.S.Adam Prior, Senior Vice
President+1 (212) 836-9606aprior@equityny.com
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