Jerash Q2 FY2024 net income falls to $0.03 EPS vs $0.14 YoY; revenue down 12%

Jerash Holdings (US), Inc.

2024-Q2 EPS reported $0.07 revenue$68,092,765

Revenue $33.4M vs $37.8M YoY (-11.6%); net income $369K ($0.03/diluted share) vs $1.8M ($0.14).
Gross margin 16.1% vs 18.3% YoY; operating income $888K vs $2.6M.
Full FY2024 revenue guidance down ~3-5%; gross margin goal 15-16%.
Regular quarterly dividend of $0.05/share declared, payable Nov 28 to holders of record Nov 14.
Cash $21.2M; JV with Newtech Textile expects $8-9M new orders over next 12 months from 5 committed customers.

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 0.9

Jerash Holdings (US), Inc. reported its fiscal year 2024 second quarter, ended September 30, 2023 results: revenue $33.4 million, net income $369,000, EPS $0.03 per diluted share.

Period: its fiscal year 2024 second quarter, ended September 30, 2023
Revenue: $33.4 million
Net income: $369,000
EPS: $0.03 per diluted share
Result: reported results

Exact text from the filing

our longstanding commitment to sustainability and responsible growth,” Choi added. Fiscal Year 2024 Second Quarter Results Revenue for the fiscal year 2024 second quarter was $33.4 million, compared with $37.8 million in the same quarter last year. The decrease was primarily due to fewer shipments being delivered to some of the major customers in the U.S.,

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Source: SEC EDGAR

accession 0001213900-23-085561

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