Revenue and Income - Revenue for the fiscal 2025 second quarter increased 20.6 percent to $40.2 million, up from $33.4 million in the same period last year[6]. - Net income for the fiscal 2025 second quarter increased 80.1 percent to $665,000, compared to $369,000 for the prior-year quarter, with net income per diluted share rising to $0.05 from $0.03[9]. - Revenue for the fiscal 2025 third quarter is expected to increase by 35-38 percent from the same quarter last year, with full-year revenue projected to rise by 30-35 percent[4]. Gross Profit and Margin - Gross profit for the fiscal 2025 second quarter rose 31.4 percent to $7.1 million, compared to $5.4 million in the same quarter last year, with a gross margin increase to 17.5 percent from 16.1 percent[7]. - Gross margin goal for fiscal year 2025 is expected to be approximately 14-15 percent, subject to logistics and shipping charges and product mix[5]. Operating Income and Expenses - Operating income increased to $1.1 million in the fiscal 2025 second quarter, up from $888,000 in the same period last year[8]. - Operating expenses totaled $5.9 million in the fiscal 2025 second quarter, compared with $4.5 million in the same period last year, primarily due to higher logistics costs[8]. Cash and Working Capital - Cash and restricted cash totaled $17.9 million, and net working capital was $35.2 million as of September 30, 2024[13]. - Cash and restricted cash at the end of the period amounted to $17,884,035, down from $22,809,716 a year earlier, indicating a decrease of 21.7%[21]. - Net cash provided by operating activities for the six months ended September 30, 2024, was $2,426,620, a decline of 70.3% compared to $8,178,880 for the same period in 2023[21]. Comprehensive Income and Equity - Comprehensive income attributable to the Company's common stockholders totaled $663,000 in the fiscal 2025 second quarter, compared with $306,000 in the same period last year[10]. - Total equity decreased to $63,458,550 as of September 30, 2024, from $64,430,663, indicating a decline of 1.5%[19]. Assets and Liabilities - Total current assets increased to $51,583,883 as of September 30, 2024, compared to $50,919,660 on March 31, 2024, reflecting a growth of 1.3%[19]. - Total liabilities increased to $16,889,385 as of September 30, 2024, from $15,814,903 on March 31, 2024, representing a rise of 6.8%[19]. Inventory and Accounts Payable - Inventories decreased significantly to $20,206,799 from $27,241,573, reflecting a reduction of 25.8%[19]. - The company’s accounts payable decreased to $4,394,732 from $6,340,237, a reduction of 30.7%[19]. Additional Financial Metrics - The company reported a net loss of $702,148 for the six months ended September 30, 2024, compared to a net income of $864,059 in the prior year[21]. - Cash paid for interest was $983,352 for the six months ended September 30, 2024, compared to $748,185 in the previous year, an increase of 31.3%[21]. - The company’s additional paid-in capital rose to $24,860,117, up from $23,917,094, marking an increase of 4.4%[19]. Demand and Production Capacity - Jerash's factories are fully booked through the first half of calendar year 2025, indicating strong demand from global customers[2].

Revenue and Profitability - Revenue for the three months ended June 30, 2024, was $40,935,716, an increase of 17.5% compared to $34,735,657 for the same period in 2023[7] - Net loss attributable to Jerash Holdings (US), Inc.'s common stockholders was $1,345,216, compared to a net income of $496,526 in the prior year[7] - The company's net loss for the three months ended June 30, 2024, was $1.367 million, compared to a net income of $495,000 for the same period in 2023, representing a 376% decrease[111] - For the three months ended June 30, 2024, the gross profit margin decreased to approximately 11%, down 5 percentage points from 16% in the same period of fiscal 2023[118] - Net loss for June 2024 was $1,366,697 compared to a net income of $495,115 in June 2023, indicating a significant decline in profitability[11] Expenses and Costs - Gross profit decreased to $4,639,871, down 16.6% from $5,567,540 year-over-year[7] - Total operating expenses increased to $5,468,679 from $4,475,720, an increase of 22.2% year-over-year[7] - Cost of goods sold increased by approximately $7.1 million, or 24%, to approximately $36.3 million for the three months ended June 30, 2024, resulting in a gross profit decrease of 17%[117] - The company incurred total operating lease expenses of $648,241 for the three months ended June 30, 2024, compared to $650,774 for the same period in 2023, showing a slight decrease[75] Cash Flow and Assets - Cash flows from operating activities showed a net cash used of $2,200,948 in June 2024, a stark contrast to a net cash provided of $24,772 in June 2023[11] - Total current assets decreased to $47,642,671 from $50,919,660, a decline of 6.5%[5] - Cash and cash equivalents decreased to $11,366,228 from $12,428,369, a decline of 8.6%[5] - Total cash and restricted cash at the end of June 2024 was $12,973,872, down from $20,071,233 at the end of June 2023[11] - As of June 30, 2024, total cash was approximately $11.4 million, down from $12.4 million as of March 31, 2024, primarily due to an operational loss and a dividend payment[124] Equity and Liabilities - Total liabilities decreased to $13,732,704 from $15,814,903, a reduction of 13.1%[5] - Total equity as of June 30, 2024, was $62,927,072, down from $64,430,663[6] - As of June 30, 2024, total equity was approximately $62.9 million, down from $64.4 million as of March 31, 2024[125] Investments and Capital Expenditures - The company plans to invest approximately $29.9 million to establish a fabric facility in Jordan through its joint venture Jerash Newtech[19] - Capital expenditures for the three months ended June 30, 2024, were approximately $0.4 million, down from $1.8 million in the same period in fiscal 2023[136] - The company projects capital expenditures of approximately $4.1 million and $8.8 million for the fiscal years ending March 31, 2025, and 2026, respectively, to enhance production capacity[138] Customer Concentration and Sales - For the three months ended June 30, 2024, two customers accounted for 73% of total revenue, indicating a significant customer concentration risk[61] - Sales to the United States increased by approximately 13% during the three months ended June 30, 2024, primarily due to increased sales to a major customer[115] - Sales to Germany increased by 152% from $444,000 in 2023 to $1.120 million in 2024, reflecting expanded business relationships[114] Tax and Regulatory Matters - The Company’s effective income tax rate in Jordan increased to 20% plus a 1% social contribution starting January 1, 2024, impacting future tax liabilities[46] - The effective tax rate for the three months ended June 30, 2024, was (8.9%), a significant decrease from 37.6% in the same period of 2023[105] Internal Controls and Compliance - As of March 31, 2024, the company's internal control over financial reporting was deemed ineffective due to material weaknesses, particularly in period-end financial reporting related to income taxes and account balance reconciliation[143] - The company has implemented remedial actions, including enhanced communication with U.S. GAAP advisors and external consultants to strengthen compliance and address identified weaknesses[145] - Despite the material weaknesses, the unaudited condensed consolidated financial statements present fairly the company's financial position and results of operations in accordance with U.S. GAAP[147]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 increased by 17.8% to $40.9 million from $34.7 million in the same quarter last year, marking an all-time high [9][10] - Gross profit was $4.6 million, down from $5.6 million in the same quarter last year, with gross margin decreasing to 11.3% from 16.0% [10] - Net loss was $1.4 million, or $0.11 per share, compared to net income of $495,000, or $0.04 per share, in the same period last year [11] - Operating loss totaled $829,000 in Q1 2025, compared to operating income of $1.1 million in the same period last year [11] Business Line Data and Key Metrics Changes - The company experienced delays in approximately 16% to 18% of orders from the previous quarter, which were shipped in Q1 2025 [6] - The company is ramping up production to catch up on delivery schedules, with manufacturing facilities operating at full capacity [6][8] Market Data and Key Metrics Changes - Purchase orders from long-term global customers are increasing, with additional trial orders from major brands through the joint venture with Busana Apparel Group [5][8] - Orders from two European high-end apparel brands, including Armani, are steadily increasing [8] Company Strategy and Development Direction - The company is diversifying its customer base, which is expected to position it well for growth as the economic environment improves [5] - Contingency plans are in place to minimize disruptions due to geopolitical uncertainties in the region [5][8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about positive momentum heading into fiscal 2025, with a record number of purchase orders [5] - The company anticipates revenue growth of 20% to 25% for the full year 2025, with gross margin expected to be approximately 12% to 14% [12] Other Important Information - Operating expenses for Q1 2025 were $5.5 million, up from $4.5 million in the same quarter last year, including additional air freight costs of approximately $300,000 [10] - The Board of Directors approved a regular quarterly dividend of $0.05 per share, payable on August 23, 2024 [12] Q&A Session Summary Question: Revenue guidance increase - The company raised its revenue guidance for the full year from 15%-18% to 20%-25%, attributing this to new customer orders and strong demand [14][15] Question: Gross margin expectations - Management acknowledged that gross margin was below expectations due to supply chain disruptions but anticipates stabilization in the second half of the year [18][19] Question: Customer compensation for additional costs - Customers generally do not directly compensate for additional costs incurred due to disruptions, but they may allow for a margin increase on future orders [19][20] Question: Supply chain financing usage - The company is cautious about using supply chain financing due to high interest rates but may tap into it as needed to maintain cash flow [21][22]

Exhibit 99.1 Jerash Holdings Reports Financial Results for Fiscal 2025 First Quarter FAIRFIELD, N.J., August 13, 2024 – Jerash Holdings (US), Inc. (NASDAQ: JRSH) (the "Company" or "Jerash"), which manufactures and exports custom, ready-made, sportswear and outerwear for leading global brands, today announced financial results for its fiscal 2025 first quarter, ended June 30, 2024. "Revenue for the fiscal 2025 first quarter grew by nearly 18 percent over the prior year period to a record high," said Sam Choi ...

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES FORM 10-K Commission file number 001-38474 Income and Sales Taxes UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 or | --- | --- | |----------------------------------------------------------------------------|-------| | Delaware | | | (State or other jurisdiction of incorporation or organization) | | | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------------------- ...

Jerash Holdings (US), Inc. (NASDAQ:JRSH) Q4 2024 Earnings Call Transcript June 27, 2024 9:00 AM ET Company Participants Roger Pondel - IR Sam Choi - Chairman and CEO Eric Tang - Executive Director Gilbert Lee - CFO Conference Call Participants Mike Baker - D.A. Davidson Mark Argento - Lake Street Operator Good morning everyone and welcome to the Jerash Holdings Fiscal 2024 Fourth Quarter and Full Year Financial Results Conference call. At this time, all participants are in a listen-only mode, and we will op ...

● Gross margin goal for fiscal 2025 year is currently expected to be around 13-15 percent, subject to logistics and shipping charges and final product mix of shipments. Fiscal 2024 Fourth Quarter Results Fiscal 2024 fourth quarter revenue was $21.6 million, down 9.3 percent from $23.8 million in the same quarter last year, primarily due to reduced shipments to our major customers in the U.S. caused by inadequate materials for production due to logistical disruptions and extended supply chain lead times in t ...

Jerash Holdings (US), Inc. (NASDAQ:JRSH) Q3 2024 Earnings Conference Call February 8, 2024 9:00 AM ET Company Participants Roger Pondel - IR Sam Choi - Chairman and CEO Eric Tang - Executive Director Gilbert Lee - CFO Conference Call Participants Mike Baker - D.A. Davidson Mark Argento - Lake Street Todd Felte - AGES Financial Operator Greetings. Welcome to Jerash Holdings Fiscal 2024 Third Quarter Financial Results. A question-and-answer session will follow the formal presentation. Please note that this co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38474 Jerash Holdings (US), Inc. (Exact name of registrant as specified in its charter) Delaware 81-4701719 (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 | Delaware | 81-4701719 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | 277 Fairfield Road, Suite 338 Fairfield, New Jersey 07004 (Address of principal executive offices) (Zip Code) (201) 285-7973 (Registrant's ...