Jerash Holdings Reports Financial Results for Fiscal 2027 First Quarter

Jerash Holdings Reports Financial Results for Fiscal 2027 First Quarter -- Record Revenue and Strong Profitability --

FAIRFIELD, NJ / ACCESS Newswire / August 10, 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 2027 first quarter ended June 30, 2026.

Fiscal 2027 First Quarter Highlights

Record revenue of $50.2 million, up 26.7 percent from $39.6 million in the prior year quarter

Gross profit of $8.3 million, up 35.7 percent, from $6.1 million in the prior year quarter

Gross margin of 16.4 percent, up 100 basis points, from 15.4 percent in the prior year quarter

Operating income of $2.6 million, up 174.4 percent, from $959,000 in the prior year quarter

Net income advanced more than fivefold to $1.7 million, from $324,000 in the prior year quarter.

Outlook

Revenue for the fiscal 2027 second quarter is expected to be approximately $49 million-$51 million, subject to logistics efficiency amid geopolitical uncertainties.

Gross margin goal for fiscal 2027 second quarter is expected to be approximately 14-15 percent, taking into effect of increased transportation costs for raw material imports.

"We are pleased to report a quarter of exceptional financial performance, highlighted by record revenue, improved gross margins, and a significant increase in profitability," said Sam Choi, Jerash's chief executive officer. "These results, in part, demonstrate the advantage of our Jordan-based manufacturing platform, along with effective execution on delivery and quality, as we expand production capacity to meet growing customer demand.

"Additionally, we are encouraged by recent trade developments that further strengthen our competitive position. The newly announced duty-free access for Jordanian apparel and textile exports to the U.S. reinforces Jerash's position as a preferred manufacturing source for global brands and retailers. We believe this favorable trade condition will support future growth, help attract new business opportunities, and enhance our ability to deliver long-term value to customers and shareholders.

"While our outlook remains positive, we are closely monitoring geopolitical developments in the Middle East that could affect near-term regional market conditions on export logistics and increased transportation costs for raw materials coming in from Asia. Nevertheless, we believe our attractiveness in the marketplace and our strong customer relationships position us well to navigate a dynamic environment," Choi added.

Fiscal 2027 First Quarter Results

Revenue for the fiscal 2027 first quarter increased 26.7 percent to $50.2 million, compared with $39.6 million in the same quarter last year. The increase was primarily driven by higher shipments to the two major U.S. customers, as well as continuous contributions from the Company's strategic partner in Korea.

Gross profit increased 35.7 percent to $8.3 million for the fiscal 2027 first quarter, from $6.1 million in the same quarter last year. Gross profit margin for the quarter increased 100 basis points to 16.4 percent, from 15.4 percent in the same period last year. The improvement was primarily driven by higher volume of shipments to U.S. customers that typically generate stronger margins, as well as improved efficiency gains from automation.

Operating expenses totaled $5.6 million in the fiscal 2027 first quarter, compared with $5.1 million in the same quarter last year. The increase was primarily attributable to higher sales volume, as well as increased headcount and related expenses.

Operating income increased 174.4 percent to $2.6 million in the fiscal 2027 first quarter, from $959,000 in the same period last year.

Total other expenses were $546,000 in the fiscal 2027 first quarter, compared with $307,000 in the same quarter last year. The increase was primarily attributable to higher interest expense associated with supply chain financing programs used by two major customers, which enable the Company to receive early payments, as well as letter of credit financing for raw material purchases supporting growth in business of the Company's strategic partner in Korea

Income tax expenses were $404,000 in the fiscal 2027 first quarter, compared with $329,000 in the same quarter last year.

Net income advanced more than fivefold to $1.7 million, or $0.13 per diluted share, in the fiscal 2027 first quarter, compared with $324,000, or $0.03 per diluted share, in the same quarter last year. Comprehensive income attributable to the Company's common stockholders totaled $1.7 million in the fiscal 2027 first quarter, compared with $328,000 in the same period last year.

Balance Sheet, Cash Flow, and Dividends

Cash, cash equivalents and restricted cash totaled $14.1 million, and net working capital was $38.1 million as of June 30, 2026.

On August 7, 2026, Jerash's board of directors approved a regular quarterly dividend of $0.05 per share on its common stock, payable on August 24, 2026 to stockholders of record as of August 17, 2026.

Conference Call

Jerash Holdings will host an investor conference call to discuss its fiscal 2027 first quarter results today, August 10, 2026, at 9:00 a.m. Eastern Time.

Phone: 888-506-0062 (domestic); 973-528-0011 (international)

Conference ID: 479775

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), Urban Outfitters, American Eagle, and Acushnet Holdings Corp (which owns the brand FootJoy). Jerash's existing production facilities in Jordan comprise eight factory units and six warehouses, and Jerash currently employs approximately 6,600 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

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)

For the Three Months Ended June 30,

2026

2025

50,229,508

39,629,308

41,967,453

33,540,428

8,262,055

6,088,880

5,404,389

4,907,215

226,338

222,669

5,630,727

5,129,884

2,631,328

958,996

(549,353

)

(355,848

)

3,846

49,314

(545,507

)

(306,534

)

2,085,821

652,462

404,173

328,832

1,681,648

323,630

(1,763

)

(4,954

)

1,679,885

318,676

1,681,648

323,630

(22,813

)

9,564

1,658,835

333,194

(1,763

)

(4,954

)

1,657,072

328,240

0.13

0.03

12,699,940

13,388,030

12,699,940

0.05

JERASH HOLDINGS (US), INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

June 30,

2026

March 31,

2026

(Unaudited)

12,403,709

10,764,576

5,895,848

5,676,122

26,593,905

29,956,361

3,490,006

3,351,655

7,779,226

8,639,635

56,162,694

58,388,349

1,704,128

1,702,935

1,270,356

834,686

26,838,252

27,388,699

499,282

906,762

1,038,563

87,381,474

89,852,514

5,384,750

4,902,996

3,179,925

7,167,019

5,194,906

5,528,165

1,590,588

1,331,765

1,982,611

2,092,183

320,490

241,357

146,914

58,766

253,378

319,910

18,053,562

21,642,161

494,714

539,183

2,673,886

2,762,034

21,222,235

24,943,451

12,939

26,805,344

26,579,006

(1,169,046

)

(1,169,046

)

413,821

40,439,401

39,394,513

(487,566

)

(464,753

)

66,014,893

64,766,480

144,346

142,583

66,159,239

64,909,063

87,381,474

89,852,514

JERASH HOLDINGS (US), INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

For the Three Months Ended June 30,

2026

2025

1,681,648

323,630

831,884

743,787

226,338

222,669

140,162

138,516

(219,727

)

(6,903,389

)

3,362,456

387,804

(138,348

)

362,723

860,409

(339,418

)

(3,987,094

)

(329,178

)

(333,259

)

(686,793

)

(109,573

)

(548,442

)

79,133

135,095

(119,362

)

(94,294

)

258,821

108,775

2,533,488

(6,478,515

)

(184,606

)

(464,890

)

(528,954

)

(250,029

)

(713,560

)

(714,919

)

(634,997

)

(634,997

)

(2,037,774

)

(4,723,477

)

2,519,527

4,979,764

(153,244

)

(378,710

)

EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH

(26,358

)

9,729

1,640,326

(7,562,415

)

12,467,511

15,064,039

14,107,837

7,501,624

14,107,837

7,501,624

1,704,128

1,704,794

12,403,709

5,796,830

549,353

355,848

102,853

219,889

93,284

165,841

SOURCE: Jerash Holdings (US), Inc.