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Nova Lifestyle Q1 profit climbs YOY

Nova Lifestyle Inc. said its first-quarter normalized net income was 5 cents per share, an increase from 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.1 million, a gain from $297,650 in the year-earlier period.

The normalized profit margin rose to 5.2% from 1.7% in the year-earlier period.

Total revenue grew 23.2% year over year to $22.0 million from $17.9 million, and total operating expenses climbed 22.0% on an annual basis to $21.1 million from $17.3 million.

Reported net income rose year over year to $1.7 million, or 8 cents per share, from $390,970, or 2 cents per share.