Jerash Holdings (US), Inc. (NASDAQ:JRSH) Q2 2023 Earnings Conference Call November 10, 2022 9:00 AM ET

Company Participants

Roger Pondel - Investor Relations

Sam Choi - Chairman and Chief Executive Officer

Gilbert Lee - Chief Financial Officer

Eric Tang - Chief Operating Officer

Conference Call Participants

Michael Baker - D.A. Davidson

Mark Argento - Lake Street

Aaron Grey - Alliance Global Partners

Rommel Dionisio - Aegis Capital

Operator

Good morning, ladies and gentlemen, and welcome to the Jerash Holdings Fiscal 2023 Second Quarter Financial Results Call. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Roger Pondel, Investor Relations for Jerash Holdings. Sir, the floor is yours.

Roger Pondel

Thank you very much, Ali and good morning everyone. Good evening, I guess, to some of you. We have a truly global call. Welcome to Jerash Holdings fiscal 2023 second quarter conference call. I am Roger Pondel with PondelWilkinson, Jerash’s Investor Relations firm. It will be my pleasure momentarily to introduce the company’s Chairman and Chief Executive Officer, Sam Choi; and as 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 all 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 Jerash Holdings 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 these forward-looking statements, and Jerash Holdings undertakes no obligation to update any forward-looking statements, except as required by law.

And with that, it is my pleasure to turn the call over to Sam Choi. Sam?

Sam Choi

Thank you, Roger, and hello, everyone. General market conditions throughout the global retail sector continued to be impacted by inflationary pressure, higher interest rates and inventory levels, and we also are feeling the impact. Orders received during the current fiscal year from our major customers have generally been smaller. And with our product mix shift more to good lower average selling price compared with last fiscal year. Also, from a year-over-year comparative expenses, last year was unusually strong due to pent-up demand following the peak of the epidemic.