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].
Jerash Holdings(JRSH) - 2025 Q2 - Quarterly Results