Nova LifeStyle Announces Fiscal 2023 Results [Yahoo! Finance]
Nova Lifestyle, Inc (NVFY)
US:NASDAQ Investor Relations:
novalifestyle.com/profile
Company Research
Source: Yahoo! Finance
Tawny Lam, Chairperson and Chief Executive Officer of Nova LifeStyle, stated, “We are encouraged with the overall performance as we have improved our margins and increased sales volume throughout the entire year, although pricing pressure has been an issue. We believe some of the initiatives we took in the past, in which we discontinued operations that were not a good fit for us moving forward, should allow us at least to maintain our gross profit margins.” Financial Results for the Year Ended December 31, 2023: Net sales from continuing operations for the year ended December 31, 2023 were $11.09 million, a decrease of 13% from $12.74 million for 2022. This decrease in net sales resulted primarily from a 33% decrease in average selling price, partially offset by a 31% increase in sales volume. Net loss from continuing operations was $7.72 million for the year ended December 31, 2023, compared to $17.08 million loss for 2022. “The furniture market in North America remains chal
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News
- Nova LifeStyle Announces Fiscal 2023 ResultsGlobeNewswire
NVFY
Sec Filings
- 4/23/24 - Form 8-K
- 4/22/24 - Form DEFA14A
- 4/19/24 - Form DEF
- NVFY's page on the SEC website