Jerash Hldgs Us Inc Stock Price, News & Analysis

Jerash Holdings (JRSH) reported strong results for its fiscal 2022 first quarter, ending June 30, 2021, with a revenue of $29.9 million, up 59.8% year-over-year. Gross profit surged 84.5% to $5.6 million, improving gross margin to 18.8%. Comprehensive income reached $2.0 million or $0.17 per share, compared to $813,000 or $0.07 per share in the prior year. Fiscal 2022 revenue guidance is raised to $115 million to $120 million, supported by increased demand and capacity. However, risks related to the Delta variant of COVID-19 could impact operations.

Jerash Holdings (NASDAQ:JRSH) has announced a quarterly dividend of $0.05 per share, payable on or about August 24, 2021 to shareholders on record as of August 17, 2021. The company specializes in the manufacturing and export of custom sports and outerwear for major global brands, employing approximately 4,500 people across its facilities, with an annual capacity of 12 million pieces. This move reflects Jerash's commitment to delivering value to its shareholders while maintaining its position in the apparel industry.

Jerash Holdings (NASDAQ:JRSH) announced it will release its fiscal 2022 first-quarter financial results on August 11, 2021, before market open. The results will cover the period ending on June 30, 2021. An investor conference call will be held the same day at 9:00 a.m. ET, with a domestic dial-in number of 877-407-9210. The company produces custom and ready-made sports and outerwear for major brands, employing around 4,500 people and having an annual production capacity of 12 million pieces.

Jerash Holdings (NASDAQ:JRSH) is set to exceed its goal of hiring 500 workers at its Al-Hasa facility by year-end 2021, focusing primarily on women and Syrian refugees. This initiative, in collaboration with Jordan's Ministry of Labor, aims to reduce unemployment in remote areas with rates up to 70%. The Jordanian government supports this effort by covering employee wages and providing rent-free facility use until December 2022. Currently, over 300 employees work at the facility, which also offers free healthcare and childcare services.

Jerash Holdings (Nasdaq:JRSH) will have its CFO, Gilbert Lee, present at the D.A. Davidson Bison Select Conference on August 4, 2021, at 11 a.m. ET. The presentation will be accessible live through their website, and it will also be archived for later viewing. Jerash Holdings specializes in manufacturing custom, ready-made sports and outerwear for major brands including Walmart and New Balance. The company operates four factories and employs about 4,500 people, with an annual production capacity of approximately 12 million pieces.

Jerash Holdings (NASDAQ:JRSH) announced the acquisition of a 71,000 square-foot apparel manufacturing facility in Amman, Jordan, for $2.7 million. This acquisition, part of a previously announced deal for MK Garments' manufacturing factory, is expected to close by November 2021. The CEO, Sam Choi, stated that the acquisition will reduce operational costs and enhance production capacity by 20%, as orders for the new facility have already been received. The acquisition will also provide flexibility for future business expansion.

Jerash Holdings (NASDAQ: JRSH) has announced a definitive agreement to acquire MK Garments MFG Co. in Jordan for approximately $2.8 million. This acquisition involves a 71,000 square-foot manufacturing facility that will enhance Jerash's production capacity by 20%, allowing for an additional 2.5 to 3.5 million garments annually. The transaction is expected to close in August 2021, with production commencing shortly after. The CEO stated that existing factories are booked through January 2022, indicating strong demand and growth prospects.

Jerash Holdings (NASDAQ:JRSH) reported strong financial results for the fourth quarter and fiscal year ending March 31, 2021. The fourth quarter revenue surged by 65% to $23.8 million, with gross profit increasing 271% to $4.7 million. Net income for the quarter was $680,000, reversing a loss from the previous year. For the full fiscal year, revenue decreased by 3% to $90.2 million, while net income dropped to $4.1 million from $6.5 million. The company expects fiscal 2022 revenue to reach between $100 million and $102 million, indicating a positive outlook with robust order momentum.

Jerash Holdings (JRSH) will announce its financial results for the fiscal year ending March 31, 2021, before the market opens on June 22, 2021. An investor conference call is scheduled for the same day at 9:00 a.m. ET, with dial-in options available for both domestic and international callers. The company specializes in manufacturing and exporting custom sports and outerwear for top global brands, employing around 4,400 people and maintaining production capacity of approximately 12 million pieces annually.