Nova LifeStyle Stock Falls Despite Q3 Earnings Uptick Y/Y, Revenues Up [Yahoo! Finance]
Nova Lifestyle, Inc (NVFY)
US:NASDAQ Investor Relations:
novalifestyle.com/profile
Company Research
Source: Yahoo! Finance
The stock has lost 15.2% since the announcement, sharply underperforming the S&P 500 index's 2% decline over the same period. Over the past month, NVFY shares have seen a staggering 48.9% loss, a stark contrast to the 0.6% gain in the S&P 500 during that time frame. For the quarter ended Sept. 30, 2024, Nova LifeStyle reported net sales of $2.6 million, a modest 5.6% increase from $2.5 million in the same quarter last year. This increase in net sales resulted primarily from a 19% increase in average selling price. Gross profit improved 10.8% to $1.2 million from $1.1 million in the prior year. The gross profit margin was 45% for the three months ended Sept. 30, 2024, compared with 43% for the same period of 2023. The increase in gross profit and gross profit margin was mainly due to sales of high-quality products, which came with a high profit margin during the three months ended Sept. 30, 2024. However, the net loss from operations widened to $2.5 million from $1.3 million in the
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NVFY
Sec Filings
- 11/27/24 - Form S-8
- 11/22/24 - Form EFFECT
- 11/19/24 - Form S-3/A
- NVFY's page on the SEC website