Key Financial Highlights:
- Net sales for three months ended March 31, 2022 were $3.67 million, an increase of 10% from $3.33 million in the same period of 2021.
- Net loss for the three months ended March 31, 2022 was $0.86 million, as compared to a net loss of $0.76 million in the same period of 2021.
“Our working capital position and inventory levels position us to fulfill orders quickly for customers while capitalizing on inventory shortages that some of our competitors may be facing,” concluded
About Nova LifeStyle
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, among others, our ability to fully resume our operations and remain financially healthy, our expected future growth prospects. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such 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 negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.
Investor Relations Contact
516-662-9461
andrew@barwicki.com
ir@novalifestyle.com
Source:
2022 GlobeNewswire, Inc., source