Welcome to our dedicated page for Jerash Hldgs Us news (Ticker: JRSH), a resource for investors and traders seeking the latest updates and insights on Jerash Hldgs Us stock.
Jerash Holdings (US), Inc. manufactures and exports custom, ready-made sportswear and outerwear for global brands and retailers from production operations in Jordan. Company news commonly covers quarterly operating results, shipment trends, customer and product mix, and demand for knitted-fabric apparel categories such as outerwear, shirts, pants and shorts.
Recurring updates also include board-approved cash dividends on common stock, manufacturing capacity initiatives, facility expansion activity, and relationships with customers and brand owners including VF Corporation, New Balance, G-III, Acushnet Holdings, American Eagle and Skechers.
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.
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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.