Jerash Reports Record $33.5 Million Quarterly Revenue

$0.41 Per Share GAAP Net Income, $0.59 Per Share Adjusted EBITDA

Initiates Quarterly Dividend

NEW YORK, NY / ACCESSWIRE / November 8, 2018 / Jerash Holdings (US), Inc. (Nasdaq: JRSH) (the “Company” or “Jerash”), a producer of high-quality textile goods for leading global brands, today reported record results for its fiscal second quarter 2019, ended September 30, 2018. The Company also reaffirmed its full-year revenue forecast of $80 million to $82 million and its outlook for record second half results.

Fiscal Second Quarter 2019 and Recent Highlights:

Revenue increased 21.5% year-over-year to a record $33.5 million in the fiscal second quarter 2019, exceeding guidance of $32 million;
Reaffirmed the full-year revenue outlook of $80-$82 million, including expected record second half revenue;
Reported GAAP net income of $4.6 million, or $0.41 per share, including $0.2 million of non-cash stock-based compensation and $1.5 million of income tax reserves;
Reported adjusted EBITDA of $6.6 million, or $0.59 per share;
Furthered the Company’s factory expansion program expected to add 8% in annual capacity;
Worked to advance contract, joint venture and acquisition efforts to add immediate capacity ahead of expected significant increases in customer demand in the next fiscal year; and
Announced plans to initiate a dividend of $0.20 per share per year, commencing with a $0.05 per share quarterly dividend reflecting the Company’s outlook for strong financial performance and sustainable cash flows from operations.

Management Commentary

Sam Choi, Chairman and Chief Executive Officer, stated: “As expected, we reported record revenue and strong profitability in the fiscal second quarter. Revenue was a record $33.5 million, exceeding our outlook of $32 million. Additionally, we reported a record $0.59 per share in adjusted EBITDA and generated more than $8.9 million in cash flow from operations. Year-to-date revenue stands at a record $51.8 million, and we expect to build on this with record revenue in the second half as we further increase our warm season production volume with both existing and new customers.

“While we are excited by these record results, we remain focused on creating additional shareholder value through the four pillars of our strategy: continued organic growth, enhanced production efficiency, substantial capacity expansion and the opportunistic acquisition of complementary businesses.

“On organic growth, we are working closely with multiple new and existing customers to increase volumes in our fiscal second half and drive incremental efficiency gains. We are also on track for our internal capacity expansion of 500,000 pieces in early calendar year 2019, an approximately 8% annual increase. We anticipate current customer demand to immediately fill that capacity when it comes on line. Additionally, our multi-color screen printing workshop is coming online by calendar year end, which we believe will open new higher margin business opportunities going forward.

“In order to meet customer demand indications in excess of our expected capacity, we are aggressively advancing our strategic expansion efforts, including the addition of contract and joint venture capacity. Most importantly, we are evaluating strategic acquisition opportunities that would immediately expand our total annual production capacity in Jordan and abroad. We anticipate that as this capacity is added, it will immediately be filled by both existing and new customers proactively seeking to take advantage of Jerash’s high-quality production and tariff-free status.”

Fiscal 2019 Second Quarter Financial Results

Jerash reported record quarterly revenue of $33.5 million for the fiscal second quarter ended September 30, 2018, a 21.5% increase from $27.5 million in the prior year fiscal second quarter. Revenue reflected increased demand from customers seeking to maximize volumes produced by Jerash due to its high-quality production capabilities and tariff-free shipments to the United States and European Union and timing of customer orders. Additionally, the Company expects to increase business activity with warm-weather production customers for the remainder of the fiscal year and expects record second-half fiscal revenues as reflected in its full-year revenue outlook.

Operating expenses were $2.3 million for the fiscal second quarter, compared with $1.5 million in the prior year fiscal second quarter. The increase in ongoing operating expenses reflects increased headcount to support revenue growth, public company operating costs and $0.2 million in stock-based compensation expense. Jerash expects operating expenses to remain approximately stable going forward.

GAAP net income was $4.6 million in the second quarter of fiscal 2019, compared with net income of $5.8 million in the prior year fiscal second quarter. The decrease was primarily due to the addition of tax expense and increased operating expenses and stock-based compensation as a public company.

Jerash reported adjusted EBITDA of $6.6 million, after add back of non-cash stock-based compensation expense, compared with adjusted EBITDA of $6.1 million in the prior year fiscal second quarter. The prior year fiscal second quarter had zero stock-based compensation and income tax expense.

For comparison purposes, on an adjusted basis excluding stock-based compensation and tax expense, Jerash reported adjusted net income of $6.2 million, or $0.56 per share, during the fiscal second quarter of 2019 compared with $5.8 million in the prior year fiscal second quarter, as shown in the reconciliation of non-GAAP financial measures to GAAP financial measures in Appendix A.

Diluted shares outstanding were 11.1 million in the current quarter and 9.6 million in the prior year fiscal second quarter. A reconciliation of GAAP to non-GAAP measures is provided in the tables accompanying this release.

Cash Flow and Balance Sheet

During the fiscal second quarter, Jerash generated $8.9 million in cash flow from operations. Cash and restricted cash at September 30, 2018 was $30.4 million in the aggregate, compared with $16.6 million at June 30, 2018. As of September 30, 2018, inventory was $8.7 million.

Initiates Dividend Program

Jerash announced that its board of directors has approved payment of an annual dividend of $0.20 per share, paid in equal installments quarterly, commencing November 27, 2018 to shareholders of record as of November 19, 2018. The dividend will be funded from cash flow from operations generated by the business.

“We are pleased to commence dividend payments to shareholders, which reflect our strong financial health and expectation of predictable, profitable operations going forward,” said Richard Shaw, Chief Financial Officer of Jerash. “We believe Jerash is well positioned to fully fund this dividend from operating cash flows, as evidenced by our second quarter performance. This enables the Company to execute on its strategic capacity expansion plans while returning a portion of our profitability to stockholders.”

Conference Call

The Company will conduct a conference call and webcast to review its fiscal second quarter 2019 results on Thursday, November 8, 2018 at 10:30 a.m. ET. Interested parties in the United States can access the call by dialing 877-407-8133; interested parties outside the United States can access the call by dialing +1-201-689-8040. Callers should dial in at least 5 minutes prior to the call start time. A live and archived webcast will be available online in the investor relations section of Jerash’s website at www.jerashholdings.com. A replay of the conference call will be available until November 15, by calling 877-481-4010 from the United States or +1-919-882-2331 from outside the United States and entering conference ID number 40306.

About Jerash Holdings (US), Inc.

Jerash Holdings (US), Inc. (Nasdaq: JRSH) is a manufacturer utilized by many well-known brands and retailers, such as Walmart, Costco, Sears, Hanes, Columbia, Land’s End, VF Corporation (which owns brands such as The North Face, Nautica, Timberland, Wrangler, Lee, Jansport, etc.), and Philip-Van Heusen (which owns brands such as Calvin Klein, Tommy Hilfiger, IZOD, Speedo, etc.). Its production facilities are made up of three factory units and two warehouses and currently employ approximately 2,900 people. The total annual capacity at its facilities is approximately 6.5 million pieces. Additional information is available at http://www.jerashholdings.com.

Non-GAAP Financial Information

This news release contains disclosure regarding adjusted net income and adjusted EBITDA, which are determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). Adjusted net income provides supplemental information that may help investors analyze our net income without regard to the effects of one-time stock-based compensation and a one-time income tax reserve, while adjusted EBITDA may help investors analyze our net income without regard to the effect of one-time stock-based compensation and before the effect of interest expenses, income taxes, and depreciation and amortization. Non-GAAP financial measures have inherent limitations and are not uniformly applied by issuers. Therefore, these non-GAAP financial measures should not be considered in isolation, or as substitutes for comparable measures prepared in accordance with GAAP. The comparable GAAP financial measures and reconciliation to the comparable GAAP financial measures can be found in Appendix A to this document.

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,” “outlook,” “forecast,” “guidance” and similar expressions are intended to identify forward-looking statements. Such statements reflect Jerash’s current views with respect to future events and 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 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:

Richard J. Shaw, Chief Financial Officer
(315) 727-6791
richard.shaw@jerashholdings.com

Matt Kreps, Darrow Associates Investor Relations
(214) 597-8200
mkreps@darrowir.com

JERASH HOLDINGS (US), INC.,
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

September 30,

March 31,

2018

ASSETS

Current Assets:

Cash

$26,779,644

$8,597,830

Accounts receivable

15,687,636

5,247,090

Accounts receivable – related party

–

50,027

Inventories

8,741,996

20,293,392

Prepaid expenses and other current assets

1,065,504

1,533,868

Advance to suppliers

72,100

1,128,079

Total Current Assets

52,346,880

36,850,286

Restricted cash

3,681,308

3,598,280

Property, plant and equipment, net

2,863,998

2,819,715

Total Assets

$58,892,186

$43,268,281

LIABILITIES AND EQUITY

Current Liabilities:

Credit facilities

$2,154,756

$980,195

Accounts payable

1,715,767

4,776,812

Accrued expenses

1,111,544

1,175,427

Income tax payable

1,463,000

112,000

Other payables

1,065,890

878,987

Total Current Liabilities

7,510,957

7,923,421

Income tax payable – non-current

1,591,000

1,288,000

Total Liabilities

9,101,957

9,211,421

Commitments and Contingencies

Equity

Preferred stock, $0.001 par value; 500,000 shares authorized; none issued and outstanding

–

Common stock, $0.001 par value; 30,000,000 and 15,000,000 shares authorized; 11,325,000 shares and 9,895,000 shares issued and outstanding as of September 30, 2018 and March 31, 2018, respectively.

11,325

9,895

Additional paid-in capital

14,762,813

2,742,158

Statutory reserve

71,699

Retained earnings

34,649,535

30,948,006

Accumulated other comprehensive loss

(14,875)

(24,502)

Total Shareholder’s Equity

49,480,497

33,747,256

Noncontrolling interest

309,732

309,604

Total Equity

49,790,229

34,056,860

Total Liabilities & Equity

$58,892,186

$43,268,281

JERASH HOLDINGS (US), INC.,
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(UNAUDITED)

For the Three Months EndedSeptember 30,

2018

2017

Revenue, net

$33,464,397

$27,549,479

Cost of goods sold

25,115,416

20,334,639

Gross Profit

8,348,981

7,214,840

Selling, general and administrative expenses

2,292,396

1,458,097

(including stock-based compensation of $193,954 and $0 for the three months ended September 30, 2018 and 2017, respectively)

Total Operating Expenses

2,292,396

1,458,097

Income from Operations

6,056,585

5,756,743

Other Expense:

Other expense, net

6,832

4,612

Total other income, net

6,832

4,612

Net Income before provision for income taxes

6,049,753

5,752,131

Income tax expense

1,463,000

–

Net Income

4,586,753

5,752,131

Net loss attributable to noncontrolling interest

Net income attributable to Jerash Holdings (US), Inc.’s Common Shareholders

$4,586,770

$5,752,132

Net Income

$4,586,753

$5,752,131

Other Comprehensive Income:

Foreign currency translation gain

817

45,860

Total Comprehensive Income

4,587,570

5,797,991

Comprehensive gain (loss) attributable to noncontrolling interest

(17)

467

Comprehensive Income Attributable to Jerash Holdings (US), Inc.’s Common Shareholders

$4,587,587

$5,797,524

Earnings Per Share Attributable to Common Shareholders:

Basic

$0.41

$0.60

Diluted

$0.41

$0.60

Weighted Average Number of Shares:

Basic

11,074,945

9,577,172

Diluted

11,130,333

9,577,172

JERASH HOLDINGS (US), INC.,
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(UNAUDITED)

For the Six Months EndedSeptember 30,

2018

2017

Revenue, net

$51,827,482

$48,899,637

Cost of goods sold

38,818,710

36,832,253

Gross Profit

13,008,772

12,067,384

Selling, general and administrative expenses

7,477,016

2,875,653

(including stock-based compensation of $3,399,934 and $116,578 for the six months ended September 30, 2018 and 2017, respectively)

Total Operating Expenses

7,477,016

2,875,653

Income from Operations

5,531,756

9,191,731

Other Expense:

Other expense, net

1,252

10,928

Total other income, net

1,252

10,928

Net Income before provision for income taxes

5,530,504

9,180,803

Income tax expense

1,829,000

–

Net Income

3,701,504

9,180,803

Net loss attributable to noncontrolling interest

2,819

Net income attributable to Jerash Holdings (US), Inc.’s Common Shareholders

$3,701,529

$9,183,622

Net Income

$3,701,504

$9,180,803

Other Comprehensive Income:

Foreign currency translation gain

9,780

23,544

Total Comprehensive Income (Loss)

3,711,284

9,204,347

Comprehensive gain (loss) attributable to noncontrolling interest

128

(2,620)

Comprehensive Income Attributable to Jerash Holdings (US), Inc.’s Common Shareholders

$3,711,156

$9,206,967

Earnings Per Share Attributable to Common Shareholders:

Basic

$0.33

$0.96

Diluted

$0.33

$0.96

Weighted Average Number of Shares:

Basic

11,074,945

9,577,172

Diluted

11,130,333

9,577,172

JERASH HOLDINGS (US), INC.,
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)

For the Six Months Ended September 30,

2018

2017

CASH FLOWS FROM OPERATING ACTIVITIES

Net income

$3,701,504

$9,180,803

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

653,542

588,324

Stock-based compensation expense

3,399,934

116,578

Income tax paid

(175,000)

–

Changes in operating assets:

Accounts receivable

(10,435,721)

(10,071,211)

Accounts receivable- related party

50,040

(3,757,365)

Inventories

11,559,013

13,735,903

Prepaid expenses and other current assets

160,848

(22,930)

Advance to suppliers

1,056,316

–

Changes in operating liabilities:

Accounts payable

(3,062,764)

(7,916,065)

Accrued expenses

(64,450)

(3,028)

Other payables

186,427

(140,258)

Income tax payable

1,829,000

–

Net cash provided by operating activities

8,858,689

1,710,751

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of property, plant and equipment

(716,728)

(671,742)

Other receivable – related party

–

336,746

Net cash used in investing activities

(716,728)

(334,996)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from short-term loan

1,173,825

350,150

Due from shareholders

–

692,500

Net proceeds from private placement

–

1,772,845

Net proceeds from Common stock

8,930,300

–

Warrants issued to the underwriter

–

Net cash provided by financing activities

10,104,155

2,815,495

EFFECT OF EXCHANGE RATE CHANGES ON CASH

18,726

5,081

NET INCREASE IN CASH AND RESTRICTED CASH

18,264,842

4,196,331

CASH AND RESTRICTED CASH, BEGINNING OF THE PERIOD

12,196,110

4,132,761

CASH AND RESTRICTED CASH, END OF THE PERIOD

$30,460,952

$8,329,092

CASH AND RESTRICTED CASH, END OF THE PERIOD

30,460,952

8,329,092

LESS: NON-CURRENT RESTRICTED CASH

3,681,308

3,476,281

CASH, END OF PERIOD

26,779,644

4,852,811

Non-cash financing activities

Warrants issued to underwriters in connection with the IPO in fiscal 2019 and the private placement in fiscal 2018

$160,732

$161,926

Prepaid stock issuance cost netted with proceeds from the IPO in fiscal 2019 and the private placement in fiscal 2018

$308,179

$239,105

APPENDIX A – Reconciliation of Non-GAAP Financial Measures
JERASH HOLDINGS (US), INC.,
SUBSIDIARIES AND AFFILIATE
RECONCILIATION OF ADJUSTED EBITDA AND PER SHARE AMOUNTS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

Three Months Ended September, 30

2018

2017

Net income (loss)

$4,587

$5,752

Income taxes

1,463

—

Interest expense

—

Depreciation and amortization

335

300

Stock-based compensation expense

194

Adjusted EBITDA

$6,622

$6,052

Adjusted EBITDA Per Share

Basic

$0.60

$0.63

Diluted

$0.59

$0.63

Weighted Average Number of Shares

Basic

11,075

9,577

Diluted

11,130

9,577

JERASH HOLDINGS (US), INC.,
SUBSIDIARIES AND AFFILIATE
ADJUSTED NET INCOME RECONCILIATION – UNAUDITED
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

Three Months Ended September 30

2018

2017

Net income (loss)

$4,587

$5,752

Stock-based compensation expense

194

—

Income taxes

1,463

—

Amounts before charges

$6,244

$5,752

Adjusted Net Income Per Share

Basic

$0.56

$0.60

Diluted

$0.56

$0.60

Weighted Average Number of Shares

Basic

11,075

9,577

Diluted

11,130

9,577

Six Months Ended September, 30

2018

2017

Net income (loss)

$3,702

$9,181

Income taxes

1,829

—

Interest expense

—

Depreciation and amortization

654

588

Stock-based compensation expense

3,400

117

Adjusted EBITDA

$9,671

$9,886

Adjusted Earnings Per Share

Basic

$0.87

$1.03

Diluted

$0.87

$1.03

Weighted Average Number of Shares

Basic

11,075

9,577

Diluted

11,130

9,577

JERASH HOLDINGS (US), INC.,
SUBSIDIARIES AND AFFILIATE
ADJUSTED NET INCOME RECONCILIATION – UNAUDITED
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

Six Months Ended September 30

2018

2017

Net income (loss)

$3,702

$9,181

Stock-based compensation expense

3,400

117

Income taxes

1,829

—

Amounts before charges

$8,931

$9,298

Adjusted Net Income Per Share

Basic

$0.81

$0.97

Diluted

$0.80

$0.97

Weighted Average Number of Shares

Basic

11,075

9,577

Diluted

11,130

9,577

JERASH HOLDINGS (US), INC
QUARTERLY HISTORICAL INFORMATION

FY 2019

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

YTD

$ in 000s

6/30/2018A

9/30/2018A

12/31/2018P

3/31/2019P

Revenue

$18,363

$33,464

$51,827

Cost of revenue

13,703

25,115

–

38,818

Gross profit

4,660

8,349

–

13,009

25.4%

24.9%

25.1%

Expenses

Selling, general and administrative expenses

5,185

2,292

–

7,477

Total operating expenses

5,185

2,292

–

7,477

Profit (loss) from operations

(525)

6,057

–

5,532

10.7%

Other income (expense)

Other income (expense) net

(7)

–

(1)

Total other income (expense), net

(7)

(1)

Net income (loss) before taxes

(519)

6,050

–

5,531

Income tax (expense)

(366)

(1,463)

–

(1,829)

Net income (loss)

$(885)

$4,587

$3,702

Net loss attributable to noncontrolling interest

–

Net income (loss) attributable to Jerash Holdings (US), Inc.’s Common Shareholders

$(885)

$4,587

$3,702

Net Income (Loss)

$(885)

$4,587

$3,702

Other Comprehensive Income (Loss)

–

Foreign currency translation gain (loss)

–

Total Comprehensive Income (Loss)

(876)

4,588

–

3,712

Comprehensive (gain) loss attributable to noncontrolling interest

–

Comprehensive Income (Loss) Attributable to Jerash Holdings (US), Inc.s Common Shareholders

$(876)

$4,588

$3,712

Earnings (Loss) Per Share Attributable to Common Shareholders

Basic

$(0.08)

$0.41

$0.33

Diluted

$(0.08)

$0.41

$0.33

Basic Shares Outstanding

10,822

11,075

–

Diluted Shares Outstanding

10,822

11,195

–

Net Income (Loss)

$(885)

$4,587

$3,702

Add back stock based compensation

3,206

194

–

3,400

Add back income taxes

366

1,463

–

1,829

Adj. Net Income

$2,687

$6,244

$8,931

Adjusted Earnings (Loss) Per Share Attributable to Common Shareholders

Basic

$0.25

$0.56

$0.81

Diluted

$0.25

$0.56

$0.81

Net Income (Loss)

$(885)

$4,587

$3,702

Add back income taxes

366

1,463

–

1,829

Add back interest expense

–

Add back depreciation and amortization

319

335

–

654

Add back stock based compensation

3,206

194

3,400

Adjusted EBITDA

$3,049

6,622

–

$9,671

Adjusted EBITDA Per Share Attributable to Common Shareholders

Basic

$0.28

$0.60

$0.88

Diluted

$0.28

$0.59

$0.87

JERASH HOLDINGS (US), INC
QUARTERLY HISTORICAL INFORMATION

FY 2018

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

YTD

$ in 000s

6/30/2017A

9/30/2017A

12/31/2017A

3/31/2018A

Revenue

$21,350

$27,549

$11,544

$8,853

$69,296

Cost of revenue

16,498

20,334

7,791

6,719

51,342

Gross profit

4,852

7,215

3,753

2,134

17,954

22.7%

26.2%

32.5%

24.1%

25.9%

Expenses

Selling, general and administrative expenses

1,417

1,458

1,558

1,686

6,119

Total operating expenses

1,417

1,458

1,558

1,686

6,119

Profit (loss) from operations

3,435

5,757

2,195

448

11,835

17.1%

Other income (expense)

Other income (expense) net

(6)

(5)

(33)

(32)

Total other income (expense), net

(6)

(5)

(33)

(32)

Net income (loss) before taxes

3,429

5,752

2,207

415

11,803

Income tax (expense)

–

(1,400)

Net income (loss)

$3,429

$5,752

$2,207

$(985)

$10,403

Net loss attributable to noncontrolling interest

–

Net income (loss) attributable to Jerash Holdings (US), Inc.’s Common Shareholders

$3,432

$5,752

$2,207

$(981)

$10,410

Net Income (Loss)

$3,429

$5,752

$2,207

$(985)

$10,403

Other Comprehensive Income (Loss)

–

Foreign currency translation gain (loss)

(22)

(54)

(16)

Total Comprehensive Income (Loss)

3,407

5,798

2,153

(971)

10,387

Comprehensive (gain) loss attributable to noncontrolling interest

Comprehensive Income (Loss) Attributable to Jerash Holdings (US), Inc.s Common Shareholders

$3,410

$5,798

$2,154

$(968)

$10,394

Earnings (Loss) Per Share Attributable to Common Shareholders

Basic

$0.37

$0.61

$0.22

$(0.10)

$1.07

Diluted

$0.37

$0.61

$0.22

$(0.10)

$1.07

Basic Shares Outstanding

9,315

9,577

9,684

9,736

Diluted Shares Outstanding

9,315

9,577

9,684

9,736

Net Income (Loss)

$3,429

$5,752

$2,207

$(985)

$10,403

Add back stock based compensation

117

–

117

Add back income taxes

–

Adj. Net Income

$3,546

$5,752

$2,207

$(985)

$10,520

Adjusted Earnings (Loss) Per Share Attributable to Common Shareholders

Basic

$0.38

$0.60

$0.23

$(0.10)

$1.08

Diluted

$0.38

$0.60

$0.23

$(0.10)

$1.08

Net Income (Loss)

$3,429

$5,752

$2,207

$(985)

$10,403

Add back income taxes

–

1,400

Add back interest expense

–

Add back depreciation and amortization

288

300

311

318

1,217

Add back stock based compensation

117

Adjusted EBITDA

$3,834

6,052

2,522

756

$13,164

Adjusted EBITDA Per Share Attributable to Common Shareholders

Basic

$0.41

$0.63

$0.26

$0.08

$1.35

Diluted

$0.41

$0.63

$0.26

$0.08

$1.35

JERASH HOLDINGS (US), INC
QUARTERLY KEY PERFORMANCE INDICATORS

FY 2019

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

YTD

6/30/2018A

9/30/2018A

12/31/2018P

3/31/2019P

Gross margin

25.4%

24.9%

Operating margin

-2.9%

18.1%

Quarter over Quarter

Revenue Change %

107.4%

82.2%

FY 2018

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

YTD

6/30/2017A

9/30/2017A

12/31/2017A

3/31/2018A

Gross margin

22.7%

26.2%

32.5%

24.1%

25.9%

Operating margin

16.1%

20.9%

19.0%

5.1%

17.1%

Quarter over Quarter

Revenue Change %

75.4%

29.0%

-58.1%

-22.3%

SOURCE: Jerash Holdings

ReleaseID: 527457

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