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Nova Lifestyle Q1 profit falls YOY

Nova Lifestyle Inc. said its first-quarter normalized net income amounted to $140,230, a decrease of 87.7% from $1.1 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 1.6% from 5.2% in the year-earlier period.

Total revenue climbed 22.9% year over year to $27.1 million from $22.0 million, and total operating expenses climbed 26.3% on an annual basis to $26.7 million from $21.1 million.

Reported net income declined 94.2% from the prior-year period to $97,130, or 0 cents per share, from $1.7 million, or 8 cents per share.