Nova Lifestyle (NVFY) Boosts Prelim. 4Q EPS Guidance

Nova LifeStyle, Inc. (NASDAQ: NVFY) today announced that the Company has raised earnings guidance for the fourth quarter ended December 31, 2017.

Nova LifeStyle anticipates reporting earnings per share of approximately $0.14 - $0.16 in the fourth quarter of 2017, an increase from the Company’s previous guidance of $0.11- $0.13 per share.

Nova LifeStyle expects to generate:

• Net income to be approximately $1.3 million per month or in the range of $3.8 million - $4.3 million for the 4th quarter, a significant increase from the same period last year.
• Net income per share to be in the range of $0.14 - $0.16 for the quarter, a significant increase versus the prior year.
• Expanded sales channels, new product offerings and repeat customer orders from Asia and Australia.
• Expanded profit margins across nearly all product lines.

Nova LifeStyle plans to release its fully audited 2017 annual report before the end of March 2018 for the fiscal year ended December 31, 2017.

“Nova LifeStyle is experiencing robust business growth across our business lines. We are pleased to raise earnings guidance for the fourth quarter ended December 2017 due to stronger than expected sales of higher margin products,” said Tawny Lam, CEO of Nova LifeStyle.

“As we enter into 2018, Nova LifeStyle looks forward to a new year of record sales and earnings growth,” commented Ms. Lam.

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