Nova LifeStyle Reports First Quarter Financial Results
LOS ANGELES, May 15, 2025 (GLOBE NEWSWIRE) – Nova LifeStyle, Inc. (NASDAQ: NVFY) has announced its financial results for the first quarter ending March 31, 2025, showcasing a positive growth trajectory under the leadership of newly appointed CEO, Mr. Xiaohua Lu.
The company reported net sales of $2.64 million, an 11% increase from $2.38 million in the same period last year. This growth was primarily fueled by a 26% rise in average selling prices, which partially offset a 12% decline in sales volume. Notably, sales to North America rose by 12% to $2.62 million, driven by the enhanced pricing strategy.
Gross profit for the quarter reached $1.20 million compared to $1.02 million in 2024, resulting in a gross profit margin of 46%, up from 43% in the previous year. These improvements indicate a successful shift towards higher-margin products, contributing positively to the company’s overall financial health.
Despite the revenue growth, Nova LifeStyle reported a net loss of $0.34 million for Q1 2025, a significant reduction from a net loss of $1.46 million in the same period in 2024. This reduced loss reflects the company’s ongoing efforts to adapt and strategize amid current industry challenges, including tariff uncertainties impacting the furniture sector.
CEO Xiaohua Lu expressed optimism for the future, emphasizing the importance of forward-thinking product development to meet evolving customer trends. Lu stated, "I am eager to collaborate with the entire team to aggressively expand our product offerings."
Founded as a designer and distributor of contemporary lifestyle furniture, Nova LifeStyle aims to appeal to middle and upper-middle-income consumers globally. For more information, visit Nova LifeStyle’s website.
For investor inquiries, contact Andrew Barwicki at 516-662-9461 or via email at andrew@barwicki.com.
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