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) 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.