Jerash Holdings Reports Financial Results for Fiscal 2025 Fourth Quarter and Full Year

About this update from Jerash Holdings (us), Inc.

-- Record annual revenue of $145.8 million, up 24.4 percent from prior year -- Fiscal Fourth Quarter Highlights FAIRFIELD, NJ / ACCESS Newswire / June 23, 2025 / 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 fourth quarter and full year ended March 31, 2025. "We are experiencing growing demand from our existing customers and a notable increase in new inquiries from brands and large apparel manufacturers seeking strategic collaboration," said Sam Choi, Jerash's chairman and chief executive officer. "As recently announced, Jerash secured a major initial order for one of the largest U.S.-based multinational and omnichannel retail corporations through a strategic collaboration with Hansoll Textile, a leading South Korea-based global apparel group. "While this is an exciting time for Jerash on the business front, revenue continues to be impacted by logistics challenges at Israel's Haifa port, stemming from ongoing geopolitical turmoil in the region. In view of the recent bombing of the Haifa port, we are seeking alternate shipping routes through the Aqaba port in Jordan, which may delay shipments in the second half of June. Nevertheless, our business remain solid and on a growth trajectory. As we enter fiscal 2026, we are focused on improving operations and maintaining the positive momentum. "On a positive note, the expansion of our existing manufacturing facilities has been completed, and we are in the process of bringing in additional foreign workers. A 15 percent increase in production capacity is expected to begin contributing to the Company's performance in the second fiscal quarter of 2026. At the present, our factories are fully booked through the end of December 2025," Choi added. Outlook Fiscal 2025 Fourth Quarter Results Fiscal 2025 fourth quarter revenue rose by 35.6 percent to $29.3 million from $21.6 million in the same quarter last year, primarily due to increases in shipments to Jerash's major customers in the U.S. Gross profit advanced by nearly 250 percent to $5.2 million for the fiscal 2025 fourth quarter, from $1.5 million in the same quarter last year. Gross margin for fiscal 2025 fourth quarter increased to 17.9 percent, from 7.0 percent in the same period last year, primarily reflecting higher production and shipment volume, which lowered unit cost of production and generated higher margin through economy of scale. Operating expenses increased by $284,000 to $4.8 million in the fiscal 2025 fourth quarter, compared with $4.5 million in the same quarter last year. This included a 4.7 percent increase in selling, general and administrative expenses due to higher sales and $83,000 increase in stock-based compensation. Operating income was $434,000 for the fiscal 2025 fourth quarter, versus an operating loss of $3.0 million a year ago. Total other expenses in the fiscal 2025 fourth quarter were $254,000, compared with $134,000 for the same quarter last year. The increase was primarily due to higher interest expenses from supply chain financing programs provided and short-term debt as a result of higher sales. Net loss was reduced to $144,000, or $0.01 per share, for the fiscal 2025 fourth quarter, from a net loss of $3.1 million, or $0.25 per share, in the same period last year. Comprehensive loss attributable to Jerash's common stockholders totaled $49,000 in the fiscal 2025 fourth quarter, compared with comprehensive loss of $3.4 million in the same quarter last year. Fiscal 2025 Full Year Results Revenue for the full 2025 fiscal year increased by 24.4 percent to a record high $145.8 million, from $117.2 million in fiscal 2024. Gross profit for fiscal 2025 rose to $22.3 million, compared with $16.9 million in the prior fiscal year. Gross margin for fiscal 2025 improved to 15.3 percent from 14.4 percent in fiscal 2024. Operating expenses in fiscal 2025 were $20.9 million, including stock-based compensation of $1.8 million, compared with $17.6 million in the prior fiscal year with stock-based compensation of $1.0 million. Operating income for fiscal 2025 improved to $1.4 million, from an operating loss of $665,000 in fiscal 2024. Net loss for fiscal 2025 was reduced to $840,000, or $0.07 per share, from a net loss of $2.0 million, or $0.16 per share, last fiscal year. Comprehensive loss attributable to Jerash's common stockholders was $869,000 in fiscal 2025, compared with comprehensive loss of $2.4 million in fiscal 2024. Balance Sheet, Cash Flow and Dividends Cash and restricted cash totaled $15.1 million, and net working capital was $34.6 million as of March 31, 2025. On May 20, 2025, the board of directors of Jerash approved a regular quarterly dividend of $0.05 per share on the Company's common stock. The dividend was paid on June 6, 2025, to stockholders of record as of May 30, 2025. Conference Call Jerash Holdings will host an investor conference call to discuss its fiscal 2025 fourth quarter and full year results today, June 23, 2025, at 9:00 a.m. Eastern Time. Phone: 888-506-0062 (domestic); 973-528-0011 (international) Conference ID: 944776 A live and archived webcast will be available online in the investor relations section of Jerash's website at www.jerashholdings.com . For those who are not able to listen to the live broadcast, the call will be archived for approximately one year on the website. About Jerash Holdings (US), Inc. Jerash Holdings (US), Inc. manufactures and exports custom, ready-made, sportswear and outerwear for leading global brands and retailers, including VF Corporation (which owns brands such as The North Face, Timberland, and Vans), New Balance, G-III (which licenses brands such as Calvin Klein, Tommy Hilfiger, DKNY, and Guess), American Eagle, and Skechers. Jerash's existing production facilities comprise six factory units and four warehouses, and Jerash currently employs approximately 6,000 people. Additional information is available at www.jerashholdings.com . Forward-Looking Statements This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "seek", "potential," "outlook" and similar expressions are intended to identify forward-looking statements. Such statements, including, but not limited to, Jerash's current views with respect to future events and its financial forecasts, and expansion of the customer base among high-profile global brands, are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including those risks described from time to time in filings made by Jerash with the U.S. Securities and Exchange Commission. These and other risks and uncertainties are detailed in the Company's filings with the U.S. Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Statements contained in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Jerash does not intend and does not assume any obligation to update these forward-looking statements, other than as required by law. Contact: PondelWilkinson Inc. Judy Lin or Roger Pondel 310-279-5980; [email protected] # # # (tables below)   JERASH HOLDINGS (US), INC., AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS   JERASH HOLDINGS (US), INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS   JERASH HOLDINGS (US), INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS SOURCE: Jerash Holdings (US), Inc. 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