Nova Lifestyle, Inc (NVFY) financial statements (2022 and earlier)

Company profile

Business Address 6565 E. WASHINGTON BLVD.
COMMERCE, CA 90040
State of Incorp. NV
Fiscal Year End December 31
SIC 251 - Household Furniture (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 8,7457,4238905,7232,588
Cash and cash equivalents 8,7457,4238905,7232,588
Receivables 1,13641567,46754,0411,250
Inventory, net of allowances, customer advances and progress billings 32,81529,7256,3716,3752,781
Inventory 32,81529,7256,3716,3752,781
Advances on inventory purchases 38227,74510,6258,58113,670
Disposal group, including discontinued operation  3,042   
Other undisclosed current assets 2181499619849,761
Total current assets: 43,29568,49985,45074,91770,049
Noncurrent Assets
Operating lease, right-of-use asset 2,3202,658
Property, plant and equipment 454137147157171
Intangible assets, net (including goodwill) (31)(31)4,0154,4215,905
Goodwill 219219219219219
Intangible assets, net (excluding goodwill) (250)(250)3,7964,2035,687
Deferred income tax assets 118 
Deferred tax assets, net436319875
Other undisclosed noncurrent assets 324293434343
Total noncurrent assets: 3,1843,0574,6414,9416,995
TOTAL ASSETS: 46,47971,55690,09179,85877,044
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 327302809848781
Accrued liabilities 20119890180209
Employee-related liabilities 11354623606494
Other undisclosed accounts payable and accrued liabilities 1350966278
Debt   6,248 7,978
Disposal group, including discontinued operation  215   
Customer advances and deposits20514
Other undisclosed current liabilities 1,6989474,7761,8132,369
Total current liabilities: 2,0251,46511,8332,68011,641
Noncurrent Liabilities
Long-term debt and lease obligation 1,7462,211 4,202 
Long-term debt, excluding current maturities    4,202 
Operating lease, liability 1,7462,211
Liabilities, other than long-term debt 1,6291,8333,3524,5282,137
Accounts payable and accrued liabilities 1,6291,8333,3524,5282,137
Other undisclosed noncurrent liabilities 150    
Total noncurrent liabilities: 3,5254,0443,3528,7302,137
Total liabilities: 5,5505,50915,18511,41013,778
Stockholders' equity
Stockholders' equity attributable to parent, including: 40,92866,04774,90668,44863,265
Common stock 66292827
Treasury stock, value (616)(616)   
Additional paid in capital 40,38340,22139,84138,68236,885
Accumulated other comprehensive income 798    
Retained earnings 35126,43035,03029,73126,346
Other undisclosed stockholders' equity attributable to parent 66666
Total stockholders' equity: 40,92866,04774,90668,44863,265
TOTAL LIABILITIES AND EQUITY: 46,47971,55690,09179,85877,044

Income statement (P&L) ($ in thousands)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues 11,35021,98388,645106,49492,648
Revenue, net106,49492,648
Cost of revenue (31,243)(20,690)(72,693)(86,073)(79,124)
Cost of goods and services sold (24,006)(3,606)   
Gross profit: (19,892)1,29315,95220,42113,524
Operating expenses (6,412)(7,090)(11,004)(13,617)(14,290)
Operating income (loss): (26,305)(5,796)4,9486,804(766)
Nonoperating income (expense) (96)(89)(308)147
Foreign currency transaction gain (loss), before tax (298)0   
Other nonoperating income (expense) 35438(308)(279)(363)
Interest and debt expense 316(153)(170)(174)(284)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes (316)153170(106)(125)
Income (loss) from continuing operations before income taxes: (26,401)(5,886)4,6406,524(1,129)
Income tax expense (benefit)  (251)660(2,760)837
Income (loss) from continuing operations: (26,401)(6,137)5,3003,765(292)
Income (loss) from discontinued operations 327(2,464)   
Net income (loss): (26,074)(8,601)5,3003,765(292)
Other undisclosed net loss attributable to parent (4)   (826)
Net income (loss) available to common stockholders, diluted: (26,078)(8,601)5,3003,765(1,118)

Comprehensive Income ($ in thousands)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss): (26,074)(8,601)5,3003,765(292)
Comprehensive income (loss): (26,074)(8,601)5,3003,765(292)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent 794   (725)
Comprehensive income (loss), net of tax, attributable to parent: (25,280)(8,601)5,3003,765(1,017)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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