Nova Lifestyle, Inc. Reports Earnings Results for the Full Year Ended December 31, 2020
March 29, 2021 at 04:16 pm EDT
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Nova LifeStyle, Inc. announced earnings results for the full year ended December 31, 2020. For the full year, the company announced sales was USD 11.350 million compared to USD 21.983 million a year ago. Operating loss was USD 26.304 million compared to USD 5.796 million a year ago. Net loss was USD 26.078 million compared to USD 8.600 million a year ago. Basic loss per share was USD 4.54 compared to USD 1.52 a year ago. Basic loss per share from continuing operations was USD 4.48 compared to USD 1.08 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. 
