Nova Lifestyle (NVFY) Reports Q2 Loss of $0.03/Share
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Nova LifeStyle Reports Second Quarter 2016 Financial Results
August 12, 2016 7:30 AM EDTLOS ANGELES, Aug. 12, 2016 (GLOBE NEWSWIRE) -- Nova LifeStyle, Inc. (NASDAQ: NVFY), a U.S. based fast-growing, innovative designer, manufacturer and distributor of modern LifeStyle furniture, today announced financial results for the second quarter ended June 30, 2016.
Second Quarter 2016 Financial Highlights:
Second quarter Net Sales were $24.0 million, a decrease of 17.9% compared to $29.2 million in the prior year period. The year over year decline was the result of a 32% decrease in volume offset by a 22% increase in average selling... More