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8-K filed February 13, 2023, 6:59 PM ET ticker JRSH CIK 0001696558
earnings confidence high sentiment negative materiality 0.65

Jerash Q3 revenue up 17% to $43M, but net income falls to $0.9M from $1.7M

Jerash Holdings (US), Inc.

2023-Q3 EPS reported $0.35 revenue$114,289,303
item 2.02item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Jerash Holdings (US), Inc. reported fiscal 2023 third quarter results: revenue $43.0 million, net income $0.9 million, EPS $0.07 per diluted share.

Period
fiscal 2023 third quarter
Revenue
$43.0 million
Net income
$0.9 million
EPS
$0.07 per diluted share
Result
reported results
Exact text from the filing
Fiscal 2023 third quarter revenue increased by 16.9 percent to a record $43.0 million, from $36.8 million in the same period last year, primarily due to increases in sales to customers in Hong Kong, Jordan, and other locations. Gross profit for the fiscal 2023 third quarter was $5.8 million, compared with $6.9 million in the same quarter last year. Gross margin was 13.5 percent in the fiscal year 2023 third quarter, compared with 18.8 percent in the same quarter last year. The decrease in gross margin was primarily driven by the lower proportion of export orders to two major customers in the U.S. that typically generate higher margins. Operating expenses totaled $4.5 million in the fiscal year 2023 third quarter, compared with $4.5 million in the same quarter last year. Operating income totaled $1.3 million in the fiscal year 2023 third quarter, versus $2.4 million in the same period last year. Total other expenses were $111,000 in the fiscal year 2023 third quarter, compared with $80,
View on SEC.gov
Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Jerash Holdings (US), Inc. reported Fiscal 2023 Fourth Quarter results: revenue $26 million to $28 million. Guidance initiated.

Period
Fiscal 2023 Fourth Quarter
Revenue
$26 million to $28 million
Guidance
initiated
Result
guidance update
Exact text from the filing
Fiscal 2023 fourth quarter revenue is expected to be in the range of $26 million to $28 million, vs. $30.9 million reported for the fiscal fourth quarter a year ago.
View on SEC.gov
Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Jerash Holdings (US), Inc. reported first nine months of fiscal 2023 results: revenue $114.3 million, net income $4.4 million, EPS $0.35 per diluted share.

Period
first nine months of fiscal 2023
Revenue
$114.3 million
Net income
$4.4 million
EPS
$0.35 per diluted share
Result
reported results
Exact text from the filing
Revenue for the first nine months of fiscal 2023 was $114.3 million, compared with $112.4 million in the same period last year. Gross margin for the first nine months of fiscal 2023 was 16.9 percent, compared with 20.1 percent in the same period last year. The decrease in gross profit margin was primarily driven by a lower proportion of export orders to the U.S. that typically generate higher gross margins. Operating expenses for the fiscal 2023 year-to-date period were $13.1 million, compared with $12.3 million for the same period last year. Operating income was $6.2 million for the fiscal 2023 year-to-date period, compared with $10.4 million for the same period last year. Net income for the first nine months of fiscal 2023 was $4.4 million, or $0.35 per diluted share, compared with $8.1 million, or $0.69 per diluted share, in the same period last year.
View on SEC.gov

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Jerash Holdings (US), Inc. filing history →

Source: SEC EDGAR
accession 0001213900-23-010487
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