NTZ Natuzzi S P A

Securities and Exchange Commission
Washington, D.C. 20549

For the month of November 2007 Commission File Number 1-11854


 NATUZZI S.p.A.
 (Translation of Registrant's name into English)

Via Iazzitiello 47
70029 Santeramo, Italy
(Address of principal office)

(Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.)

(Indicate by check mark whether the registrant by furnishing the

information contained in this Form is also thereby furnishing information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of

1934.)

(Check One) Yes No X
 --- ---

Natuzzi S.P.A. (NYSE: NTZ) Announces Consolidated Third Quarter 2007 Financial Results

SANTERAMO IN COLLE, Bari, Italy--(BUSINESS WIRE)--Nov. 14, 2007--

Third Quarter 2007 Financial Highlights

-- Total Net Sales Down by 10.9% at EUR 141.3 Million and Seats Sold Down by 13.5% over 3Q06

-- Operating Loss of EUR 11.0 Million, versus Operating Loss of EUR 1.1 Million in 3Q06

-- Net Losses at EUR 14.1 Million versus Net Earnings of EUR 0.8 Million in 3Q06

The Board of Directors of Natuzzi S.p.A. (NYSE: NTZ) ('Natuzzi' or 'the Group'), the world's leading manufacturer of leather-upholstered furniture, today presented the consolidated financial statements for the third quarter 2007.

NET SALES

Natuzzi third quarter 2007 net sales were at EUR 141.3 million, down 10.9 percent from EUR 158.5 million in third quarter 2006. During the first nine months of 2007, total net sales decreased by 15.7 percent at EUR 457.5 million from EUR 542.4 million reported for the same comparable period of 2006.

In the third quarter 2007, upholstery net sales were at EUR 125.3 million, decreasing by 11.8 percent with respect to EUR 142.0 million in third quarter 2006. During the same period, the Group sold 594,888 seats, or 13.5 percent less than the same comparable period of 2006.

Other sales (principally living room accessories and raw material produced by the Group and sold to third parties) decreased 3.0 percent to EUR 16.0 million over third quarter 2006.

During the quarter ended September 30, 2007 net sales in the Americas decreased by 19.0 percent at EUR 48.7 million from EUR 60.1 million in third quarter 2006, by 6.1 percent in Europe at EUR 64.6 million and by 8.4 percent in the rest of the world at EUR 12.0 million.

In the third quarter of 2007, 11 new Natuzzi Stores were opened (2 in France, 2 in UK, 2 in the Netherlands, and 1 in Germany, Russia, Romania, Poland and China), whereas 1 store was closed in Hungary, thus bringing the total number of Natuzzi Stores to 290 as of September 30, 2007. As of the same date, there were 486 Natuzzi Galleries worldwide.

Quarterly leather-upholstery net sales were at EUR 113.3 million, down 8.2 percent from EUR 123.4 million in third quarter of 2006 and fabric-upholstery net sales were at EUR 12.0 million down by 35.5 percent from EUR 18.6 million reported one year ago.

Total sales for Natuzzi branded products decreased by 17.9 percent at EUR 68.8 million, and sales for Italsofa products by 2.9 percent at EUR 56.5 percent, respectively from EUR 83.8 million and EUR 58.2 million reported one year ago.

GROSS & OPERATING RESULTS

For the quarter ended September 30, 2007, the Group reported a gross profit of EUR 38.6 million, down from EUR 51.1 million of last year comparable period. Gross profit as a percent of sales for the third quarter 2007 decreased at 27.3 percent from 32.2 percent in third quarter 2006.

The Group reported for the third quarter of 2007 an operating loss of EUR 11.0 million as compared to an operating loss of EUR 1.1 million reported one year ago.

FOREX AND TAXES

During the third quarter of 2007 the Group reported a net foreign exchange loss of EUR 5.9 million, as compared to a net foreign exchange loss of EUR 0.4 million in last year third quarter.

In the same period, the Group reported a deferred tax asset for EUR 1.9 million.

NET RESULT AND GROUP EARNINGS PER COMPANY'S SHARE

For the quarter ended on September 30, 2007, the Group reported net losses of EUR 14.1 million (or EUR 0.26 losses per share), versus Group's net earnings of EUR 0.8 million (or EUR 0.01 earnings per share) reported for third quarter of 2006.

Considering the first nine months of 2007, the Group reported net losses of EUR 23.1 million (or EUR 0.42 losses per share), versus net earnings of EUR 17.5 million (or EUR 0.32 earnings per share) reported for the same comparable period of 2006.

Pasquale Natuzzi, Chief Executive Officer and Chairman, thus commented "The furnishings sector still continues to suffer from widespread weak business conditions in most of major markets, particularly noteworthy the US, where sluggish economic activity and concerns about credit situation have dampened the demand for discretionary spending.

The persisting unfavorable level of Euro exchange rates against major currencies, U.S. dollar first of all, marketing investments not completely absorbed by current production volumes, the strong revaluation of the Brazilian currency against USD which has negatively affected the competitiveness of our manufacturing operations in the South American country, and the upward pressure in the raw material market, have all contributed to the quarterly unsatisfactory results.

Although such a challenging business scenario, we registered an encouraging recovery in the order flow in the third quarter, thus reducing the negative gap on a year-to-date basis to a low-digit decrease".

Mr. Natuzzi concluded: "We remain committed to invest in the repositioning of the Natuzzi brand and reorganization of our sales activities and we continue to be focused on the current restructuring process of our operations, so to regain competitiveness and profitability in the medium term".

THIRD QUARTER 2007 TELECONFERENCE

Pasquale Natuzzi, Chief Executive Officer and Chairman, Filippo Simonetti, Chief Financial Officer, and Nicola Dell'Edera, Finance Director, will discuss financial results, followed by a question and answer session, in a teleconference at 10:00 a.m. New York time (3:00
p.m. London time - 4:00 p.m. Italian time) on Thursday November 15, 2007.

ABOUT NATUZZI S.P.A.

Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. designs and manufactures a broad collection of leather-upholstered residential furniture.

Italy's largest furniture manufacturer, Natuzzi is the global leader in the leather segment, exporting its innovative, high-quality sofas and armchairs to 123 markets on 5 continents.

Since 1990, Natuzzi has sold its furnishings in Italy through the popular Divani & Divani by Natuzzi chain of 124 stores, and 1 Natuzzi Store. Outside Italy, the Company sells to various furniture retailers, as well as through 165 licensed Divani & Divani by Natuzzi and Natuzzi Stores.

Natuzzi S.p.A. was listed on the New York Stock Exchange on May 13, 1993. The Company is ISO 9001 and 14001 certified.

FORWARD-LOOKING STATEMENTS

Statements in this press release other than statements of historical fact are "forward-looking statements". Forward-looking statements are based on management's current expectations and beliefs and therefore you should not place undue reliance on them. These statements are subject to a number of risks and uncertainties, including risks that may not be subject to the Group's control, that could cause actual results to differ materially from those contained in any forward-looking statement. These risks include, but are not limited to, fluctuations in exchange rates, economic and weather factors affecting consumer spending, competitive and regulatory environment, as well as other political, economical and technological factors, and other risks identified from time to time in the Group's filings with the Securities and Exchange Commission, particularly in the Group's annual report on Form 20-F. Forward looking statements speak as of the date they were made, and the Group undertakes no obligation to update publicly any of them in light of new information or future events.

---------------------- ---------- ---------- ------- --------- -------
 Upholstery net sales 125.3 142.0 (11.8)% 88.7% 89.6%
 Other sales 16.0 16.5 (3.0)% 11.3% 10.4%
Total Net Sales 141.3 158.5 (10.9)% 100.0% 100.0%
---------------------- ---------- ---------- ------- --------- -------
 Purchases (65.0) (69.4) 6.3% (46.0)% (43.9)%
 Labor (21.9) (24.0) 8.8% (15.5)% (15.1)%
 Third-party
 Manufacturers (3.3) (3.6) 8.3% (2.3)% (2.3)%
 Manufacturing Costs (9.9) (8.5) (16.5)% (7.0)% (5.2)%
 Inventories, net (2.6) (1.9) (36.8)% (1.8)% (1.2)%
Cost of Sales (102.7) (107.4) 4.4% (72.7)% (67.8)%
---------------------- ---------- ---------- ------- --------- -------
Gross Profit 38.6 51.1 (24.5)% 27.3% 32.2%
---------------------- ---------- ---------- ------- --------- -------
 Selling Expenses (38.3) (42.9) 10.7% (27.1)% (27.1)%
 General and
 Administrative
 Expenses (11.3) (9.3) (21.5)% (8.0)% (5.9)%
Operating Income
 (Loss) (11.0) (1.1) (7.8)% (0.7)%
---------------------- ---------- ---------- ------- --------- -------
 Interest Income, net 0.4 0.3 0.3% 0.2%
 Foreign Exchange, net (5.9) (0.4) (4.2)% (0.3)%
 Other Income, net 0.4 1.7 0.3% 1.1%
Earnings (Losses)
 before taxes and
 minority interest (16.1) 0.5 (11.4)% 0.3%
--------------------------------- ---------- ------- --------- -------
 Income taxes 1.9 0.2 1.3% 0.1%
Earnings (Losses)
 before minority
 interest (14.2) 0.7 (10.0)% 0.4%
--------------------------------- ---------- ------- --------- -------
 Minority Interest (0.1) (0.1) (0.1)% (0.1)%
Net Earnings (Losses) (14.1) 0.8 (10.0)% 0.5%
---------------------- ---------- ---------- ------- --------- -------
Earnings (Losses) Per
 Share (0.26) 0.01
---------------------- ---------- ---------- ------- --------- -------
Average Number of
 Shares Outstanding* 54,824,227 54,738,538
--------------------------------- ---------- ------- --------- -------
(*) Net of shares
 repurchased


-------------------------------------------------------------- -------
 Key Figures in U.S.
 dollars (millions) Three months ended on
 September September
 30, 2007 30, 2006
--------------------------------- ------------------ ---------
Total Net Sales 194.2 202.0
Gross Profit 53.1 65.1
Operating Income
 (Loss) (15.1) (1.4)
Net Earnings (Losses) (19.4) 1.0
Earnings (Losses) per
 Share (0.36) 0.01
Average exchange rate (U.S.
 dollar per Euro) 1.3746 1.2742
--------------------------------------------------------------

--------------------- ---------- ---------- ----------------- -------
 Upholstery net sales 406.3 486.1 (16.4)% 88.8% 89.6%
 Other sales 51.2 56.3 (9.1)% 11.2% 10.4%
Total Net Sales 457.5 542.4 (15.7)% 100.0% 100.0%
--------------------- ---------- ---------- ------- --------- -------
 Purchases (223.7) (231.8) 3.5% (48.9)% (42.9)%
 Labor (73.3) (80.2) 8.6% (16.0)% (14.8)%
 Third-party
 Manufacturers (11.1) (15.4) 27.9% (2.4)% (2.8)%
 Manufacturing Costs (29.0) (25.3) (14.6)% (6.3)% (4.5)%
 Inventories, net 10.2 (3.3) 409.1% 2.2% (0.6)%
Cost of Sales (326.9) (356.0) 8.2% (71.5)% (65.6)%
--------------------- ---------- ---------- ------- --------- -------
Gross Profit 130.6 186.4 (29.9)% 28.5% 34.4%
--------------------- ---------- ---------- ------- --------- -------
 Selling Expenses (123.9) (137.3) 9.8% (27.1)% (25.3)%
 General and
 Administrative
 Expenses (34.9) (29.2) (19.5)% (7.6)% (5.4)%
Operating Income
 (Loss) (28.2) 19.9 (6.2)% 3.7%
-------------------------------- ---------- ------- --------- -------
 Interest Income, net 1.2 0.8 0.3% 0.1%
Foreign Exchange, net (4.8) (2.0) (1.0)% (0.4)%
 Other Income, net 3.3 4.9 0.7% 0.9%
Earnings (Losses)
 before taxes and
 minority interest (28.5) 23.6 (6.2)% 4.4%
-------------------------------- ---------- ------- --------- -------
 Income taxes 5.2 (6.1) 1.1% (1.1)%
Earnings (Losses)
 before minority
 interest (23.3) 17.5 (5.1)% 3.2%
-------------------------------- ---------- ------- --------- -------
 Minority Interest (0.2) 0.0 0.0% 0.0%
Net Earnings (Losses) (23.1) 17.5 (5.0)% 3.2%
--------------------- ---------- ---------- ------- --------- -------
Earnings (Losses) Per
 Share (0.42) 0.32
-------------------------------- ---------- ------- --------- -------
Average Number of
 Shares Outstanding* 54,824,227 54,738,538
-------------------------------- ---------- ------- --------- -------
(*) Net of shares
 repurchased


---------------------------------------------------------------------
Key Figures in U.S.
 dollars (millions) Nine months ended on
 September September
 30, 2007 30, 2006
-------------------------------- ------------------ -----------------
Total Net Sales 615.2 675.6
Gross Profit 175.6 232.2
Operating Income
 (Loss) (37.9) 24.8
Net Earnings (Losses) (31.1) 21.8
Earnings (Losses) per
 Share (0.56) 0.40
Average exchange rate
 (U.S. dollar per
 Euro) 1.3447 1.2455
---------------------------------------------------------------------

---------------------------------------------------------------------
 Sales* Seat Units
 Three months ended Three months ended
 on % Over on % Over
 30-Sep-07 30-Sep-06 (Under) 30-Sep-07 30-Sep-06 (Under)
=================== ========= ================= ========= ===========
Americas 48.7 60.1 (19.0%) 287,502 357,752 (19.6%)
% of total 38.9% 42.3% 48.3% 52.0%
Europe 64.6 68.8 (6.1%) 257,271 274,427 (6.3%)
% of total 51.5% 48.5% 43.3% 39.9%
Rest of
 the world 12.0 13.1 (8.4%) 50,115 55,392 (9.5%)
% of total 9.6% 9.2% 8.4% 8.1%
------------------- --------- ----------------- --------- -----------
TOTAL 125.3 142.0 (11.8%) 594,888 687,571 (13.5%)
---------------------------------------------------------------------

* Expressed in millions of EUR

---------------------------------------------------------------------
 Sales* Seat Units
 Three months ended Three months ended
 on % Over on % Over
 30-Sep-07 30-Sep-06 (Under) 30-Sep-07 30-Sep-06 (Under)
========================================================= ===========
Leather 113.3 123.4 (8.2%) 533,974 582,950 (8.4%)
% of total 90.4% 86.9% 89.8% 84.8%
Fabric 12.0 18.6 (35.5%) 60,914 104,621 (41.8%)
% of total 9.6% 13.1% 10.2% 15.2%
Total 125.3 142.0 (11.8%) 594,888 687,571 (13.5%)
---------------------------------------------------------------------

* Expressed in millions of EUR

---------------------------------------------------------------------
 Sales* Seat Units
 Three months ended Three months ended
 on % Over on % Over
 30-Sep-07 30-Sep-06 (Under) 30-Sep-07 30-Sep-06 (Under)
========================================================= ===========
Natuzzi 68.8 83.8 (17.9%) 242,219 316,702 (23.5%)
% of total 54.9% 59.0% 40.7% 46.1%
Italsofa 56.5 58.2 (2.9%) 352,669 370,869 (4.9%)
% of total 45.1% 41.0% 59.3% 53.9%
TOTAL 125.3 142.0 (11.8%) 594,888 687,571 (13.5%)
---------------------------------------------------------------------

----------------------------------------------------------------------
 Sales* Seat Units
 Nine months % Over Nine months ended % Over
 ended on on
 30- 30- (Under)30-Sep-07 30-Sep-06 (Under)
 Sep- Sep-
 07 06
====================== ======================================= =======
Americas 144.1 186.9 (22.9%) 832,657 1,036,001 (19.6%)
 % of total 35.5% 38.4% 45.0% 46.3%
Europe 230.2 264.4 (12.9%) 888,829 1,055,359 (15.8%)
 % of total 56.6% 54.4% 48.0% 47.2%
Rest of the world 32.0 34.8 (8.0%) 129,902 144,761 (10.3%)
 % of total 7.9% 7.2% 7.0% 6.5%
---------------------- ------ ----- ---------------- --------- -------

----------------------------------------------------------------------
 Sales* Seat Units
 Nine months % Over Nine months ended % Over
 ended on on
 30- 30- (Under)30-Sep-07 30-Sep-06 (Under)
 Sep- Sep-
 07 06
====================== ======================================= =======
Leather 360.0 420.6 (14.4%)1,618,848 1,874,148 (13.6%)
 % of total 88.6% 86.5% 87.4% 83.8%
Fabric 46.3 65.5 (29.3%) 232,540 361,973 (35.8%)
 % of total 11.4% 13.5% 12.6% 16.2%

----------------------------------------------------------------------
 Sales* Seat Units
 Nine months % Over Nine months ended % Over
 ended on on
 30- 30- (Under)30-Sep-07 30-Sep-06 (Under)
 Sep- Sep-
 07 06
====================== ======================================= =======
Natuzzi 244.6 307.3 (20.4%) 853,269 1,107,774 (23.0%)
 % of total 60.2% 63.2% 46.1% 49.5%
Italsofa 161.7 178.8 (9.6%) 998,119 1,128,347 (11.5%)
 % of total 39.8% 36.8% 53.9% 50.5%

 30-Sep-07 31-Dec-06
------------------------------------------------ --------- ---------
 ASSETS
Current Assets:
 Cash and cash equivalents 97.7 128.1
 Marketable debt securities 0.0 0.0
 Trade receivables, net 102.0 119.3
 Other receivables 41.5 44.7
 Inventories 110.6 100.3
 Unrealized foreign exchange gains 0.0 5.5
 Prepaid expenses and accrued income 2.3 2.0
 Deferred income taxes 16.0 7.5
Total current assets 370.1 407.4
------------------------------------------------ --------- ---------
Non-Current Assets:
 Net property, plant and equipment 243.1 246.3
 Treasury shares 0.0 0.0
 Other assets 18.2 18.7
 Deferred income taxes 2.3 2.3
------------------------------------------------ --------- ---------
TOTAL ASSETS 633.7 674.7
------------------------------------------------ --------- ---------
 LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
 Short-term borrowings 4.6 3.8
 Current portion of long-term debt 0.3 0.3
 Accounts payable-trade 66.7 79.5
 Accounts payable-other 25.7 22.5
 Accounts payable shareholders for dividends 0.6 0.6
 Unrealized foreign exchange losses 0.3 0.0
 Income taxes 0.8 4.6
 Salaries, wages and related liabilities 20.7 21.7
Total current liabilities 119.7 133.0
------------------------------------------------ --------- ---------
Long-Term Liabilities:
 Employees' leaving entitlement 33.3 35.3
 Long-term debt 2.1 2.4
 Deferred income taxes 0.0 0.0
 Deferred income for capital grants 13.3 14.1
 Other liabilities 9.1 10.5
------------------------------------------------ --------- ---------
Minority Interest 0.5 0.6
------------------------------------------------ --------- ---------
Shareholders' Equity:
 Share capital 54.8 54.7
 Reserves 42.3 42.3
 Additional paid-in capital 8.3 8.3
 Retained earnings 350.3 373.5
Total shareholders' equity 455.7 478.8
------------------------------------------------ --------- ---------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 633.7 674.7
---------------------------------------------------------- ---------

 as of September 30, 2007 and 2006
 (Expressed in millions of EUR)

 30- 30-
 Sep- Sep-
 07 06
 ------ ------
Cash flows from operating activities:
 Net earnings (losses) (23.1) 17.5
 Adjustments to reconcile net income to net cash
 provided by operating activities:
 Depreciation and amortization 22.4 23.1
 Employees' leaving entitlement (1.9) 1.8
 Deferred income taxes (8.5) (2.3)
 Minority interest (0.2) 0.0
 (Gain) loss on disposal of assets 0.1 0.4
 Unrealized foreign exchange (losses) / gain 5.8 (6.6)
 Deferred income for capital grants (0.8) (0.8)
 Change in assets and liabilities:
 Receivables, net 17.3 13.1
 Inventories (10.2) 3.5
 Prepaid expenses and accrued income (0.4) (0.1)
 Other assets 3.2 4.2
 Accounts payable (12.9) (2.9)
 Income taxes (3.8) 1.0
 Salaries, wages and related liabilities (1.0) (1.0)
 Other liabilities 2.9 2.7

Total adjustments 12.0 36.1

NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (11.1) 53.6
-------------------------------------------------------- ------ ------

Cash flows from investing activities:
 Property, plant and equipment:
 Additions (19.2) (11.8)
 Disposals 0.4 0.2
 Government grants received 0.0 0.0
 Marketable debt securities:
 Proceeds from sales 0.0 0.0
 Purchase of business, net of cash acquired (0.1) (3.1)
 Disposal of business 0.0 0.0
NET CASH USED BY INVESTING ACTIVITIES (18.9) (14.7)
-------------------------------------------------------- ------ ------
Cash flows from financing activities:
 Long term debt:
 Proceeds 0.0 0.0
 Repayments (0.3) (0.6)
 Short-term borrowings 0.8 (3.6)
 Dividends paid to shareholders 0.0 0.0
 Dividends paid to minority shareholders 0.0 0.0
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES 0.5 (4.2)
-------------------------------------------------------- ------ ------
 Effect of translation adjustments on cash (0.9) (0.7)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (30.4) 34.0
-------------------------------------------------------- ------ ------
 Cash and cash equivalents, beginning of the year 128.1 89.7
CASH AND CASH EQUIVALENTS, END OF THE PERIOD 97.7 123.7
-------------------------------------------------------- -------------

CONTACT: Natuzzi S.p.A.

Investor Relations Dept.
Tel.: +39-080-8820-812

Fax: +39-080-8820-241
E-mail: investor_relations@natuzzi.com or
Corporate Press Office
Tel.: +39-080-8820-124
Fax: +39-080-8820-508
E-mail: relazioni.esterne@natuzzi.com or
www.natuzzi.com

Date: November 14, 2007
 By: /s/ FILIPPO SIMONETTI
 --------------------------
 Filippo Simonetti

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