Los Angeles, May 15, 2025 (Globe Newswire) – Nova Lifestyle, Inc. (Nasdaq: NVFY) (“Nova Lifestyle” or “Company”) announced today the financial results of the first quarter enclosed on March 31, 2025.
Mr. Xiaohua Lu, newly appointed director general of Nova Lifestyle, said: “This is a very exciting period for Nova Lifestyle while we are setting up strategies in the future among uncertainty linked to prices and the impact on the furniture industry. The first quarter has shown that our products are well received by considering an increase in renovation, which can be allocated to our higher products products, which has also improved our blatant profit and margine emissions. The rest of 2025 and beyond, I think it starts with a range of products that is forward and anticipated new trends.
Key financial factories:
- Net sales for the three months closed on March 31, 2025 raised $ 2.64 million, an increase of 11% compared to $ 2.38 million for the same period of 2024. This increase in net sales led mainly a 26% increase in average selling price, while partially offset by 12% of the sales volume. The increase of 0.26 million dollars in net sales for the three months closed on March 31, 2025, compared to the same period of 2024, was mainly due to the increase in sales for North America. Sales in North America increased by 12% to $ 2.62 million for the three months closed on March 31, 2025, compared to $ 2.33 million for the same period of 2024, which increases mainly to increase our average selling price by 26% compared to customers in North America.
- The gross profit was $ 1.20 million for the three months closed on March 31, 2025, compared to $ 1.02 million for the same period of 2024, which represents an increase in gross profit of $ 0.19 million. Our gross beneficiary margin was 46% for the three months closed on March 31, 2025, against 43% for the same period of 2024. The increase in gross profit and the gross profit margin was mainly the result of the sale of higher products with a higher profit margin.
- The net loss was $ 0.34 million for the three months closed on March 31, 2025, compared to $ 1.46 million net dollars for the same period of 2024.
About Nova Lifestyle
Nova Lifestyle, Inc. is a well -established and innovative designer and distributor of modern lifestyle furniture; Mainly sofas, dining room furniture, cabinets, office furniture and related components, bedroom furniture and various accessories, in matching collections. Nova lifestyle products ranges include Nova brands and the diamond sofa (www.diamondsofa.com). Nova products have contemporary urban styles that integrate comfort and features, incorporating high-end luxury drawings that please consumers with medium and higher income in the United States, China, Southeast Asia, South America and elsewhere in the world.
Visit the Nova Lifestyle website to www.novaltifestyle.com.
Prospective declarations
This press release may contain prospective declarations within the meaning of article 27a of the Securities Act of 1933, as modified, and article 21st of the SECURITIES EXCHANGE ACT of 1934, as modified, in particular, among other things, our ability to fully resume our operations and to remain financially healthy, to our expected future growth prospects. All declarations other than historical facts are, or can be considered prospective declarations. In some cases, prospective declarations can be identified by the use of prospective terms such as “anticipate”, “estimate”, “believe”, “continue”, “could”, “want”, “can”, “plan”, “potential”, “predict”, “objective”, “objective”, “guidance”, “to offer”, “projection”, “objective”, “projection” “,” Objectif “,” guidance “”, “offer”, “effort”, “objective”, “guidance”, “outpective”, “effort”, “objective”, “guidance”, “outrafts”, “effort”, “objective”, “objective”, “guidance”, “outlowo”, “objective”, “objective”, “guidance”, “,” objective “, “Trajectory” or negative of these terms or other comparable terms. However, the absence of these words does not mean that the declarations are not turned forward. These prospective declarations are based on certain hypotheses and analyzes made by us in the light of our experience and our perception of historical tendencies, current conditions and expected future developments, as well as other factors which, in our view, are appropriate in circumstances.
Contact on investors relations
Andrew Barwicki
516-662-9461
Andrew@barwicki.com
ir@novaletifestyle.com
