Jerash Q2 revenue falls 17% to $37.8M; net income drops to $1.8M; announces JV with Busana

Jerash Holdings (US), Inc.

2022-Q2 EPS reported $0.28 revenue$71,262,256

Net income $1.8M ($0.14/diluted) vs $4.4M ($0.39) YoY; gross margin 18.3% vs 22.1%.
Signed MOU for JV with Busana Apparel Group to produce garments for their retail customers in Jordan; expected close H1 2023.
Added Timberland and Skechers as new customers; initial shipments begin in fiscal Q3.
Q3 revenue guidance $33-35M; full-year gross margin 16-18%.
Quarterly dividend $0.05/share declared, payable Nov 28 to holders of record Nov 18.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Jerash Holdings (US), Inc. reported fiscal year 2023 second quarter, ended September 30, 2022 results: revenue $37.8 million, net income $1.8 million, EPS $0.14 per diluted share. Guidance raised.

Period: fiscal year 2023 second quarter, ended September 30, 2022
Revenue: $37.8 million
Net income: $1.8 million
EPS: $0.14 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

prices and smaller quantities from both existing and new customers,” Lee added. Fiscal Year 2023 Second Quarter Results Revenue for the fiscal year 2023 second quarter was $37.8 million, compared with $45.7 million in the same quarter last year. The decrease was primarily due to lower sales to the Company’s two major customers and higher inflation and higher

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Source: SEC EDGAR

accession 0001213900-22-070830

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