Welcome to our dedicated page for Jerash Holdings (US) news (Ticker: JRSH), a resource for investors and traders seeking the latest updates and insights on Jerash Holdings (US) stock.
Jerash Holdings (US), Inc. (symbol: JRSH) is a prominent manufacturer and exporter of customized, ready-made sportswear and outerwear, catering to globally recognized brand-name retailers. Founded in 2016 and headquartered in Fairfield, New Jersey, Jerash operates through its extensive production facilities located in Jordan.
The company offers a diversified product line that includes jackets, polo shirts, t-shirts, pants, and shorts, all made from high-quality knitted fabric. Jerash’s clientele features a roster of prestigious retailers such as Walmart, Costco, Sears, Hanes, Columbia, Land's End, VF Corporation (including brands like The North Face, Timberland, and Vans), New Balance, G-III (licensor for Calvin Klein, Tommy Hilfiger, DKNY, and Guess), American Eagle, and Skechers.
Jerash consistently strives to achieve significant milestones and maintain a robust financial condition. Notably, their joint venture with Busana Apparel Group is making headway, targeting geographical diversification for global brands to Jordan, leveraging duty-free agreements. The venture is anticipated to commence production in the latter half of the current fiscal year. Additionally, Jerash is engaging with a leading entity in sustainable textile dyeing technology to introduce environment-friendly processes that significantly reduce water and carbon footprints.
Despite recent economic challenges, including a decline in fiscal 2023 fourth-quarter revenue by 23.2% to $23.8 million, Jerash remains resilient. Factors such as the decreased orders from major U.S. customers and shipment deferrals have impacted revenue. However, the company’s proactive measures, such as diversifying its customer base and developing newly acquired property, underscore its commitment to growth and adaptation.
For financial stability, Jerash reported $19.4 million in cash and restricted cash, with $42.8 million in net working capital as of March 31, 2023. Their consistent performance is also reflected in regular quarterly dividends and share repurchase programs.
Looking ahead, Jerash aims to fortify its market position through innovative collaborations, sustainable practices, and expanding its high-profile customer base.
Jerash Holdings (NASDAQ:JRSH) will present at the Aegis Capital Virtual Conference on May 2, 2023, at 1:30 p.m. ET. The CFO, Gilbert Lee, will showcase the company's performance in manufacturing and exporting custom sportswear and outerwear for well-known global brands.
Jerash Holdings serves major clients like VF Corporation, New Balance, and G-III, operating six factory units and four warehouses, employing around 5,000 people. Interested investors can access the presentation deck on their website under Investor Relations for more insights.
Jerash Holdings (NASDAQ:JRSH) and Busana Apparel Group have formed a joint venture named J&B International Limited to produce custom sportswear and outerwear in Jordan. Jerash will hold a 51% stake, contributing $1.5 million in working capital. The venture aims to serve Busana's global branded customers, benefitting from Jordan's duty-free export agreements. Initial production is expected in the second half of 2023. This partnership leverages Jerash's existing manufacturing capabilities in Jordan and Busana's extensive industry experience, enhancing manufacturing diversity and operational capacity for both companies.
Jerash Holdings (Nasdaq:JRSH) announced that its CFO, Gilbert Lee, will present at the D.A. Davidson 6th Annual Consumer Growth Conference in New York on March 21, 2023, at 2:45 p.m. ET. The presentation can be accessed live via this link or through Jerash's website. The company is known for manufacturing and exporting custom sportswear and outerwear for global brands like VF Corporation, New Balance, and American Eagle. Jerash operates six factories and four warehouses, employing around 5,000 people.
Jerash Holdings reported a 17% increase in revenue for its fiscal 2023 third quarter, reaching a record $43 million, up from $36.8 million a year earlier. However, gross profit declined to $5.8 million from $6.9 million, resulting in a gross margin drop from 18.8% to 13.5%. Operating income fell to $1.3 million, while net income was $0.9 million or $0.07 per diluted share, down from $1.7 million or $0.13 per diluted share last year. The company forecasts fourth-quarter revenue between $26 million and $28 million, a decrease from $30.9 million reported last year.
Jerash Holdings (NASDAQ:JRSH) will announce its fiscal 2023 third-quarter financial results on February 13, 2023, before market opening. The results will cover the period ending December 31, 2022. An investor conference call is scheduled for the same day at 9:00 a.m. ET, accessible via phone or webcast. Jerash specializes in manufacturing and exporting custom sportswear and outerwear for major brands, employing around 5,000 people and operating with a production capacity of approximately 14 million pieces annually. For further details, visit jerashholdings.com.
Jerash Holdings (NASDAQ:JRSH) has announced a quarterly dividend of $0.05 per share, payable on or about February 21, 2023, to stockholders of record by February 14, 2023. This decision reflects the company's commitment to returning value to shareholders. Jerash specializes in manufacturing and exporting custom sportswear and outerwear for major retailers like Walmart and Costco. The company operates six factories and employs around 5,000 individuals, with an annual production capacity of 14 million pieces as of December 31, 2022.
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