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Tuesday, April 10, 2018 8:18:31 AM
NVFY - 1.68 Pre-market now at 1.89/1.94
Nova LifeStyle Issues FY 2018 Financial Guidance
Revenues Guidance For fiscal year 2018, Nova LifeStyle currently expects total revenue to be at least $110 million , based on organic growth of existing operations. In addition, the Company may elect to pursue potential strategic M&A opportunities which could provide additional revenue contribution. E-commerce sales from the Company’s subsidiary, Diamond Sofa (https://www.diamondsofa.com/), are expected to achieve record performance, with significant growth deriving from marketing to large accounts such as Amazon.com and other established digital platforms.
Nova LifeStyle has sufficient capital to fund its projected growth and therefore currently has no plan to dilute current shareholders through equity offerings. 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 .
2018 Net Income, Earnings Per Share (EPS) Guidance
For fiscal year 2018, Nova LifeStyle 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 .
First Quarter 2018 Performance
The Company anticipates reporting significant sales and net income growth for the quarter ended March 31, 2018 .
Approved $5 Million Stock Buyback to Initiate in Q2/18
The Company expects to engage in a stock buyback in the open market from time to time under an approved $5 million share buyback program approved by our Board in December, 2017. Subject to certain regulatory blackout periods, the Company intends to execute the buyback program beginning in the current second quarter.
Nova LifeStyle Issues FY 2018 Financial Guidance
Revenues Guidance For fiscal year 2018, Nova LifeStyle currently expects total revenue to be at least $110 million , based on organic growth of existing operations. In addition, the Company may elect to pursue potential strategic M&A opportunities which could provide additional revenue contribution. E-commerce sales from the Company’s subsidiary, Diamond Sofa (https://www.diamondsofa.com/), are expected to achieve record performance, with significant growth deriving from marketing to large accounts such as Amazon.com and other established digital platforms.
Nova LifeStyle has sufficient capital to fund its projected growth and therefore currently has no plan to dilute current shareholders through equity offerings. 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 .
2018 Net Income, Earnings Per Share (EPS) Guidance
For fiscal year 2018, Nova LifeStyle 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 .
First Quarter 2018 Performance
The Company anticipates reporting significant sales and net income growth for the quarter ended March 31, 2018 .
Approved $5 Million Stock Buyback to Initiate in Q2/18
The Company expects to engage in a stock buyback in the open market from time to time under an approved $5 million share buyback program approved by our Board in December, 2017. Subject to certain regulatory blackout periods, the Company intends to execute the buyback program beginning in the current second quarter.
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