Jerash Q1 revenue up 12% to $33.4M; net income slips to $0.14 share; Q2 guide below prior year

Jerash Holdings (US), Inc.

2023-Q1 EPS reported $0.14 revenue$33,436,561

Revenue of $33.4M (+11.9% YoY); gross margin 19.8% (+100 bps); net income $1.7M ($0.14/sh) vs $1.9M ($0.17/sh).
Q2 FY2023 revenue guided at $41M-$43M vs $45.7M in prior-year Q2; FY2023 gross margin target 16%-18%.
Quarterly dividend of $0.05/sh declared, payable Aug 24 to holders of record Aug 17.
Cash $21.5M; net working capital $55.6M; $3M share repurchase program authorized, no shares bought as of June 30.

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