Nova Lifestyle reports Q3 net loss $2.5M vs. net loss $1.3M last year

Reports Q3 revenue $2.6M vs. $2.5M last year…Tawny Lam, Chairperson and Chief Executive Officer of Nova LifeStyle (NVFY), stated, “During the third quarter we continued to strengthen the underlying fundamentals of the business. We implemented a number operational steps, including improvements to our logistics network to improve efficiencies while maintaining inventory levels to ensure customer deliveries. While these changes negatively impacted operations and expenses in the third quarter, we believe that these efforts position us well moving forward. We are committed to accelerating our strategy in a disciplined manner that avoids excess spending and will position the business for growth over the long term.”