Jerash Holdings Reports Financial Results for Fiscal 2026 Fourth Quarter and Full Year

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

-- Robust Fourth-Quarter Growth Caps Record Revenue Year as Profitability Accelerates -- FAIRFIELD, NJ / ACCESS Newswire / June 15, 2026 / 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 2026 fourth quarter and full year ended March 31, 2026. Fiscal 2026 Fourth Quarter Highlights Fiscal 2026 Full Year Highlights Outlook "Jerash closed fiscal 2026 achieving strong fourth quarter performance and record revenue for the full year, driven by rising demand from both our long-standing global brand customers and orders from newer customers over the past few years," said Sam Choi, Jerash's chairman and chief executive officer. "We have made progress toward reducing customer concentration, and along with improved production efficiencies, we managed to smooth out seasonality in the second half of fiscal 2026 to achieve higher sales and better margins. With both the Aqaba and Haifa ports fully open and operating normally during the quarter, we were also pleased to complete additional export shipments despite the seasonal impact typically associated with the month-long Ramadan and Eid al-Fitr holiday period, which began on February 19 this year. "Operationally, we are expanding production and reorganizing warehouse capacity in phases at several manufacturing facilities, including our newly acquired building, to better accommodate growing customer demand. The first phase of renovation is expected to add approximately 15 percent to our capacity and accommodate 700 additional workers by the end of calendar year 2026. The remaining expansion is planned for completion by mid-calendar year 2027, which should contribute an additional 20 to 25 percent in production capacity. "Our production facilities are fully booked through December 2026, ensuring a steady flow of profitable growth. Management remains focused on further improving gross margin through increased automation and enhanced production efficiencies driven by economies of scale," Choi added. Fiscal 2026 Fourth Quarter Results Fiscal 2026 fourth quarter revenue rose by 46.6 percent to $42.9 million, from $29.3 million in the same quarter last year, primarily reflecting increased export shipments to the Company's long-standing key customers, as well as orders from newer customers, including Hansoll Group in South Korea, and others developed in recent years. Gross profit increased 40.4 percent to $7.4 million for the fiscal 2026 fourth quarter, from $5.2 million in the same quarter last year. Gross profit margin for the quarter was 17.1 percent, compared with 17.9 percent in the same period last year. Operating expenses totaled $5.0 million in the fiscal 2026 fourth quarter, compared with $4.8 million in the same quarter last year. As a percentage of revenue, total operating expenses decreased by almost 5 percentage points to 11.7 percent, from 16.4 percent in the fiscal 2025 fourth quarter. The lower expenses principally reflected improved control over export logistics costs and lower stock-based compensation. Operating income rose more than fivefold to $2.3 million in the fiscal 2026 fourth quarter, up from $434,000 in the same quarter last year. Total other expenses in the fiscal 2026 fourth quarter were $399,000, including $383,000 in interest expenses, compared with $254,000, including $371,000 in interest expenses partially offset by other income, in the prior year quarter. Income tax expenses were $270,000 in the fiscal 2026 fourth quarter, compared with $324,000 in the prior year quarter. The effective income tax rate for the fiscal 2026 fourth quarter declined to 13.9 percent, mainly due to improvements in group profitability and lower Jordan income tax rate for companies in qualified development zones under a new investment law. Net income rose to $1.7 million, or $0.12 per diluted share, for the fiscal 2026 fourth quarter, from a net loss of $144,000, or $0.01 per share, for the same quarter last year. Comprehensive income attributable to the Company's common stockholders advanced to $1.6 million in the fiscal 2026 fourth quarter, from a comprehensive loss of $49,000 in the same quarter last year. Fiscal 2026 Full Year Results Revenue for the full 2026 fiscal year increased by 14.0 percent to a record high $166.3 million, from $145.8 million in fiscal 2025. Gross profit for fiscal 2026 rose 20.0 percent to $26.8 million, from $22.3 million in the prior fiscal year. Gross margin for fiscal 2026 improved to 16.1 percent from 15.3 percent in fiscal 2025. Total operating expenses for fiscal 2026 were $20.5 million, compared with $20.9 million in fiscal 2025. Operating income more than quadrupled to $6.3 million for the full 2026 fiscal year, from $1.4 million in the last fiscal year. Total other expenses in fiscal 2026 were $1.6 million, compared with $1.3 million in fiscal 2025. Income tax expenses were $1.1 million for fiscal 2026, compared with $991,000 for fiscal 2025. Net income for fiscal 2026 improved by $4.5 million to $3.6 million, or $0.27 per diluted share, from a net loss of approximately $840,000, or $0.07 per share, in fiscal 2025. Comprehensive income attributable to Jerash's common stockholders improved to $3.6 million in fiscal 2026, from a comprehensive loss of $869,000 in fiscal 2025. Balance Sheet, Cash Flow and Dividends Cash and restricted cash totaled $12.5 million, and net working capital was $36.7 million as of March 31, 2026. During fiscal 2026, the Company purchased a manufacturing building and associated land in Al Tajamouat Industrial City for approximately $3.4 million, financed in part with a long-term bank loan of approximately $2.8 million. The Company also obtained two new revolving credit facilities totaling up to $20.0 million, both of which were undrawn as of March 31, 2026. On May 4, 2026, 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 May 21, 2026, to stockholders of record as of May 14, 2026. Conference Call Jerash Holdings will host an investor conference call to discuss its fiscal 2026 fourth quarter and full year results today, June 15, 2026, at 9:00 a.m. Eastern Time. Phone: 888-506-0062 (domestic); 973-528-0011 (international) Conference ID: 899698 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, and Nautica), Hugo Boss, American Eagle, and Acushnet (which owns brands such as Footjoy and Titleist). Jerash's existing production facilities comprise eight factory units and six warehouses, and Jerash currently employs approximately 6,300 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 INCOME (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. View the original press release on ACCESS Newswire

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