Nova Lifestyle, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2021
May 17, 2021 at 04:21 pm EDT
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Nova LifeStyle, Inc. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced sales was USD 3.331 million compared to USD 2.203 million a year ago. Operating loss was USD 766,103 compared to USD 821,106 a year ago. Net loss was USD 763,537 compared to USD 1.339 million a year ago. Basic loss per share was USD 0.14 compared to USD 0.24 a year ago. Basic loss per share from continuing operations was USD 0.14 compared to USD 0.18 a year ago.
Nova LifeStyle, Inc. is a designer and distributor of modern lifestyle furniture, primarily sofas, dining room furniture, cabinets, office furniture and related components, bedroom furniture and various accessories, in matching collections. The Companyâs product lines include the Nova Brands and Diamond Sofa (www.diamondsofa.com). Its products feature urban and contemporary styles, combining comfort and functionality in matching furniture collections and upscale luxury pieces appealing to lifestyle-conscious middle and upper middle-income consumers. Its product lines feature upholstered, wood and metal-based furniture pieces. It classifies its products by room, designation or series, such as living room, dining room, bedroom and home office series, and by category or product types, such as sofas, chairs, dining tables, beds, entertainment consoles, cabinets and cupboards. It also sells physiotherapeutic jade mats for use in therapy clinics, hospitality, and real estate projects.
NOVA LIFESTYLE, INC. 
