LOS ANGELES, April 15, 2024 (GLOBE NEWSWIRE) -- Nova LifeStyle, Inc. (NASDAQ:NVFY) ("Nova LifeStyle" or the "Company") today announced financial results for the fiscal year ended December 31, 2023. Tawny Lam, Chairperson and Chief Executive Officer of Nova LifeStyle, stated, "We are encouraged with the overall performance as we have improved our margins and increased sales volume throughout the entire year, although pricing pressure has been an issue. We believe some of the initiatives we took in the past, in which we discontinued operations that were not a good fit for us moving forward, should allow us at least to maintain our gross profit margins." Financial Results for the Year Ended December 31, 2023: Net sales from continuing operations for the year ended December 31, 2023 were $11.09 million, a decrease of 13% from $12.74 million for 2022. This decrease in net sales resulted primarily from a 33% decrease in average selling price, partially offset by a 31% increase in sales volume. Net loss from continuing operations was $7.72 million for the year ended December ...