Jerash Holdings (US) Inc. (NASDAQ:JRSH) Q3 2023 Earnings Conference Call February 13, 2023 9:00 AM ET

Company Participants

Sam Choi - Chairman, Chief Executive Officer, President

Gilbert Lee - Chief Financial Officer

Eric Tang - Executive Director

Roger Pondel - Investor Relations

Conference Call Participants

Mike Baker - DA Davidson

Mark Argento - Lake Street Capital

Aaron Grey - Alliance Global Partners

Rommel Dionisio - Aegis Capital

Operator

Greetings. Welcome to Jerash Holdings’ fiscal 2023 third quarter financial results conference call.

At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require Operator assistance during the conference, please press star, zero on your telephone keypad. Please note this conference is being recorded.

I will now turn the conference over to your host, Roger Pondel, Investor Relations for Jerash Holdings. You may begin.

Roger Pondel

Thank you Operator, and good morning everyone. Welcome to Jerash Holdings’ fiscal 2023 third quarter conference call. I’m Roger Pondel with PondelWilkinson, Jerash Holdings’ investor relations firm. It will be my pleasure momentarily to introduce the company’s Chairman and Chief Executive Officer, Sam Choi, his Chief Financial Officer, Gilbert Lee, and Eric Tang, who leads the company’s operations in Jordan.

Before I turn the call over to Sam, I want to remind our listeners that today’s call may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to numerous conditions, many of which are beyond the company’s control, including those set forth in the Risk Factors section of the company’s most recent Form 10-K and Form 10-Q as filed with the Securities and Exchange Commission, copies of which are available on the SEC’s website at www.sec.gov, along with other company filings made with the SEC from time to time. Actual results could differ materially from those forward-looking statements and Jerash Holdings undertakes no obligation to update any forward-looking statements except as required by law.

With that, it’s my pleasure to turn the call over to Sam Choi. Sam?

Sam Choi

Thank you Roger, and hello everyone.

Our fiscal third quarter performance demonstrated the company’s ability to navigate through continued challenging market conditions [indiscernible] sector. Although orders received from our major global brand customers continued to be smaller compared with last fiscal year, our team in Jordan was able to keep our facilities running at full capacity by adding supplementary production for other customers. Accordingly, we achieved record third quarter revenue. Nevertheless, we continue to see fiscal 2023 as a transitional and opportunistic year for Jerash while we made progress on our initiatives to diversify our customer base and product mix.