Topic: How To Invest

Hi Pat: Can you please comment on Nova Lifestyle? Thanks.

Article Excerpt

Nova Lifestyle, $4.18, symbol STVS on the on the U.S. over-the-counter bulletin board (Shares outstanding: 18.9 million; Market cap: $79.3 million; www.novalifestyle.com), is a California-based furniture maker and designer. It mainly produces sofas and furniture and accessories for dining rooms, offices and bedrooms. Nova’s products are made in the U.S., Europe and Asia and include brands such as Diamond Sofa, Colorful World, Giorgio Mobili and Bright Swallow International. The company introduced its NOVA QWIK line in July 2013. These products, which include cabinets, cupboards, shelving units and desks, come disassembled and are designed to fit together without screws. Two of Nova’s major customers are The Brick in Canada, with 234 locations, and most recently, IKEA. Nova is now building a 160,000-square-foot plant in China to produce lacquer furniture for IKEA customers in Asia. The company is building the facility next to its existing furniture factory in Dongguan. Other customers include Conforoma in France (200 stores), Harveys Furniture in England (190 stores) and…