LOS ANGELES, Sept. 11, 2017 (GLOBE NEWSWIRE) -- Nova LifeStyle, Inc. (NASDAQ:NVFY) or (the “Company,” "Nova"), a U.S.-based innovative designer and distributor of modern LifeStyle products is pleased to announce record financial profit for the summer months of 2017. The Company also celebrated subsidiary Diamond Sofa’s 25th year in business and launched new product lines during a highly successful 2017 summer Las Vegas trade show.
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Due to strong customer demand, the Company generated approximately $1 million monthly in net profit during the summer months (June, July and August) of 2017. Nova anticipates the growth rate to continue throughout the year after a very successful Las Vegas World Market Show. The Company has a strong balance sheet with sufficient cash flow for future growth initiatives.
Nova has recently introduced many new products, including the Chateau, Crawford, Marquee, and Melrose collections. Nova has also met with several large global buyers that have expressed strong interest in initiating or expanding product purchases from Nova.
Tawny Lam, Nova LifeStyle’s Chief Executive Officer, said, “As we celebrate Diamond Sofa's 25th anniversary, we are pleased to report that the Summer 2017 Las Vegas Market was a great success for Nova. We are seeing solid growth trends in our business along with healthy profit margins. We hope to significantly expand online sales by partnering with E-commerce giants such as Amazon.com, Hayneedle.com and others."
About Nova LifeStyle
Nova LifeStyle, Inc., a NASDAQ Global Market listed company headquartered in California, is a fast growing, innovative designer, manufacturer and distributor of modern LifeStyle furniture; primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Visit Nova's website: www.NovaLifeStyle.com.
Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Nova's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Nova's filings with the Securities and Exchange Commission.
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Source:Nova LifeStyle, Inc.