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) announced a share repurchase program totaling $3.0 million, effective until March 31, 2023. The board's decision indicates confidence in the company's short- and long-term prospects. Share repurchases will occur through various methods including open market transactions and may be adjusted based on market conditions. Jerash, known for manufacturing and exporting sportswear for major brands, emphasizes its strong cash position to support this investment and return value to shareholders.
Jerash Holdings (NASDAQ:JRSH) has announced a quarterly dividend of $0.05 per share, payable around June 3, 2022, to shareholders on record by May 27, 2022. The company, a manufacturer of custom, ready-made sportswear and outerwear, supplies major global brands such as VF Corporation, New Balance, and Walmart. Jerash operates six factories and four warehouses, employing approximately 5,500 people.
Jerash Holdings (NASDAQ:JRSH), a prominent manufacturer and exporter of sportswear and outerwear, has announced a significant new partnership with Timberland, part of VF Corporation. The agreement includes an initial order of approximately 200,000 pieces of fleece outerwear, reflecting Jerash's expertise and prior collaborations with high-profile brands like The North Face. This contract marks an important addition to Jerash's branded customer roster, showcasing its manufacturing capabilities in Jordan.
Jerash Holdings (NASDAQ:JRSH) will present at the D.A. Davidson Consumer Growth Conference on March 10, 2022, at 9:30 a.m. ET. Presenters include Eric Tang, Head of Jordan Operation, and Gilbert Lee, Chief Financial Officer. The conference presentation will be available to view live and archived through Jerash's website. The company is a major manufacturer and exporter of sportswear and outerwear for global brands, employing about 5,500 people across six factories and four warehouses.
Jerash Holdings (JRSH) reported a record revenue of $36.8 million for Q3 fiscal 2022, marking a 78.2% increase year-over-year, along with a gross profit of $6.9 million, a 186.7% rise. The gross margin expanded to 18.8% from 11.7%. Net income soared to $1.7 million ($0.13 per diluted share), compared to $94,000 ($0.01 per diluted share) last year. Guidance for Q4 revenue is projected between $29 million and $31 million, up from $23.8 million in Q4 FY2021. The company also declared a quarterly dividend of $0.05 per share.
Jerash Holdings (NASDAQ:JRSH) has announced a quarterly dividend of $0.05 per share, payable on February 22, 2022, to stockholders of record as of February 15, 2022. This decision reflects the company's commitment to returning value to its shareholders. Jerash is a key manufacturer of custom sportswear and outerwear for renowned global brands, employing approximately 5,500 people across its facilities. The company collaborates with major retailers such as VF Corporation, New Balance, and Walmart, demonstrating its significant market presence.
Jerash Holdings (NASDAQ:JRSH) will announce its fiscal 2022 third-quarter financial results on February 10, 2022, before market opening. The company specializes in manufacturing custom sports and outerwear for top global brands. An investor conference call is scheduled for the same day at 9:00 a.m. ET. Interested parties can join via phone or access a live and archived webcast on Jerash's investor relations website. The company employs approximately 5,500 people across its six factories and four warehouses, working with brands like VF Corporation, New Balance, and Walmart.
Jerash Holdings (NASDAQ:JRSH) reported strong financial results for the fiscal 2022 second quarter, ending September 30, 2021. Revenue surged by 68.8% to $45.7 million, driven by increased shipments and demand. Gross profit rose 71.8% to $10.1 million, with a gross margin of 22.1% compared to 21.7% last year. Comprehensive income reached $4.4 million or $0.39 per share, up from $2.6 million or $0.23 per share. The company anticipates fiscal 2022 revenue between $125 million and $130 million, reflecting strong demand and improved capacity.
Jerash Holdings (NASDAQ:JRSH) has announced a regular quarterly dividend of $0.05 per share, effective on or about November 29, 2021. This dividend will be payable to stockholders of record by November 22, 2021. Jerash specializes in the manufacturing and exporting of custom sportswear and outerwear for renowned global brands, including Walmart and Costco. The company operates six factory units and four warehouses and employs around 5,500 people.
Jerash Holdings (NASDAQ:JRSH) announced it will release its fiscal 2022 second quarter financial results on November 10, 2021, after market close. The company, known for manufacturing and exporting custom sportswear for global brands, will host a conference call on November 11, 2021, at 9:00 a.m. ET. Investors can access the call at jerashholdings.com. The announcement highlights Jerash's ongoing relationship with major retailers like Walmart and Costco, showcasing its robust manufacturing capacity with six factories and approximately 5,500 employees.
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