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 announce its fiscal third quarter financial results for the period ending December 31, 2020, on February 10, 2021, before market opening. A conference call will follow at 9:00 a.m. ET on the same day to discuss the results. Interested callers can join by dialing +1-201-689-8049. The company, a manufacturer for major brands such as Walmart and New Balance, employs approximately 4,200 people and has an annual production capacity of 12.0 million pieces.
Jerash Holdings (NASDAQ:JRSH) will present at the virtual Fall Investor Summit from November 16-18, 2020. This event will showcase 75 companies to over 300 investors, providing a platform for smallcap and microcap companies to connect with qualified investors.
Jerash is a leading manufacturer for notable brands such as Walmart, Costco, and New Balance, employing around 4,200 people across its production facilities with an annual capacity of approximately 12 million pieces.
Jerash Holdings (JRSH) reported strong second-quarter results for fiscal year 2021, with revenue reaching $27.1 million, a 45% increase from the previous quarter. The company improved its gross margin to 22% and achieved net income of $2.6 million, or $0.23 per diluted share. Management highlighted full booking of manufacturing capacity through summer 2021 and diversified customer base. Jerash anticipates total revenue of $85 million for fiscal 2021, reflecting recovery from COVID-19 impacts. The company declared a quarterly dividend of 5 cents per share.
Jerash Holdings (JRSH) has announced a quarterly dividend of $0.05 per share, payable on November 23, 2020, to stockholders of record by November 16, 2020. The company, known for producing textile goods for major brands like Walmart and New Balance, operates four factories and employs around 4,100 people. The dividend payment reflects the company's financial health and commitment to returning value to its shareholders, enhancing investor confidence.
Jerash Holdings (NASDAQ:JRSH) will release its fiscal second quarter financial results on November 12, 2020, before the market opens. The Company will hold a conference call at 9:00 a.m. ET on the same day to discuss the results. Interested parties can access the call by dialing +1-201-689-8049. Jerash Holdings is a significant manufacturer for well-known retailers like Walmart and Costco, operating manufacturing facilities with approximately 4,100 employees.
Jerash Holdings (NASDAQ:JRSH) announced strong factory bookings for 2021 following its annual stockholders' meeting on September 16, 2020. Stockholders elected five board members, including Samuel Choi as CEO, and ratified Friedman LLP as auditors for fiscal 2021. Choi highlighted a full production schedule at their Jordan factories, ongoing expansion with new customer brands, and initial orders for PPE products. The company maintains a debt-free balance sheet and a strong cash position, which positions it well for future growth.
Jerash Holdings (NASDAQ:JRSH) announced its participation at the LD 500 investor conference on September 3, 2020, at 1:00 PM ET. CFO Gilbert Lee will present virtually and hold investor meetings throughout the event. Interested investors may register online and can also request one-on-one meetings via LD Micro. Jerash is known for producing textile goods for major brands like Walmart and Costco, with an annual production capacity of approximately 8 million pieces, employing around 4,100 people.
Jerash Holdings (NASDAQ:JRSH) reported its first quarter results for fiscal 2021, ending June 30, with $18.7 million in revenue, down 17% year-over-year. The company increased sales from new global brand customers and ventured into the PPE market, with initial shipments underway. GAAP net income was $0.8 million, or $0.07 per diluted share, a decline from $1.5 million or $0.14 per diluted share in the previous year. Management anticipates 34% sequential revenue growth for the second quarter, projecting approximately $25 million in revenue.
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