Nova Lifestyle, Inc. Provides Earnings Guidance for the First Quarter Ended March 31, 2018 and Fiscal Year 2018
April 10, 2018 at 05:15 pm IST
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Nova Lifestyle, Inc. provided earnings guidance for the first quarter ended March 31, 2018 and fiscal year 2018. For the first quarter the company anticipates reporting significant sales and net income growth for the quarter ended March 31, 2018.
For fiscal year 2018, the company expects total revenue to be at least $110 million. Further, the Company does not expect its business to be materially impacted in any way by the trade policy differences between the U.S. and China. For fiscal year 2018, the company currently expects net income to be approximately $9.5 million, or EPS of $0.34 on a fully diluted basis, constituting a significant increase from 2017 net income of $3.8 million and diluted EPS of $0.14.
Nova LifeStyle, Inc. is a designer and distributor of modern lifestyle furniture, primarily sofas, dining room furniture, cabinets, office furniture and related components, bedroom furniture and various accessories, in matching collections. The Companyâs product lines include the Nova Brands and Diamond Sofa (www.diamondsofa.com). Its products feature urban and contemporary styles, combining comfort and functionality in matching furniture collections and upscale luxury pieces appealing to lifestyle-conscious middle and upper middle-income consumers. Its product lines feature upholstered, wood and metal-based furniture pieces. It classifies its products by room, designation or series, such as living room, dining room, bedroom and home office series, and by category or product types, such as sofas, chairs, dining tables, beds, entertainment consoles, cabinets and cupboards. It also sells physiotherapeutic jade mats for use in therapy clinics, hospitality, and real estate projects.
NOVA LIFESTYLE, INC. 
