Nova Lifestyle (NVFY) Sees Q4 Revenue of $35M-$36M

Nova LifeStyle, Inc. (NASDAQ: NVFY) is pleased to provide financial guidance for the fourth quarter ending December 31, 2017.

Nova LifeStyle expects to generate:

• Revenue to be approximately $35 to $36 million.
• Net income to be approximately $1 million per month or in the range of $3 million - $3.5 million for the 4th quarter, a significant increase from the same period last year.
• Net income per share to be in the range of $0.11 - $0.13 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

“Since the Company’s successful transformation in early 2017 from a low-margin furniture manufacturing business to a high-margin innovative designer and global marketer of modern lifestyle consumer products, we have significantly fine-tuned our product mix and deepened distribution channels, which led to our recently announced record 3rd quarter financial results,” said Tawny Lam, CEO of Nova Lifestyle.

“Nova made over $1 million in net income during the month of October, a substantial increase over the same period last year. Nova expects the same growth momentum to continue for the balance of the 4th quarter of 2017 and well into 2018. As noted in our third quarter earnings release, Nova has a strong balance sheet with ample liquidity to fund operations. Additionally, management does not anticipate a need for external capital for the foreseeable future.”

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