Jerash Holdings (US), Inc. (NASDAQ:JRSH) Q3 2019 Earnings Conference Call Transcript

Feb 08, 2019 • 10:30 am ET

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Jerash Holdings (US), Inc. (NASDAQ:JRSH) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen and welcome to the Jerash Holdings Fiscal Third Quarter Results Call. All lines have been placed on a listen-only mode and the floor will be open for questions and comments following presentation. (Operator Instructions)

At this time, it is my pleasure to turn the floor over to your host, Matt Kreps, Investor Relations for Jerash. Sir, the floor is yours.

Executive
Matt Kreps

Good morning, and hank you. We'd like to welcome everyone to the Jerash Holdings fiscal third quarter 2019 results conference call. With me today are Rich Shaw, Chief Financial Officer; and Karl Brenza, Head of US Operations; Sam Choi, our CEO is traveling on critical customer activities today. Today's call is being recorded and will be available for playback. All participants will be in a listen-only mode. (Operator Instructions) The operator will provide a detailed reminder of the Q&A instructions once management has completed their prepared remarks.

Before we begin, a quick reminder about forward-looking statements made during the course of this call. Statements made by Jerash management during the course of this conference call that are not historical facts are considered to be forward-looking statements subject to risks and uncertainties. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for such forward looking statements. The words believe, expect, anticipate, estimate, will, guidance, outlook, indicate, suggest, forecast, target, growth and other similar statements of expectation identified forward-looking statements.

Forward looking statements are subject to certain risks, uncertainties and important factors that could cause actual results to differ materially from those reflected in the forward-looking statements. These risks and uncertainties are detailed in Jerash's public filings with the US Securities and Exchange Commission. Participants on this call are cautioned not to place undue reliance on these forward-looking statements, which reflect management's belief only as of the date hereof. The company undertakes no obligation to publicly release the results of any revision to its forward-looking statements, which may be made to reflect events or circumstances after the date hereof or should reflect the occurrence of unanticipated events. We'll also be discussing non-GAAP measures on this call. A reconciliation of non-GAAP measures we discuss during this call is available as Appendix A to the press release, we issued this morning.

I will now turn the call over to Rich Shaw, CFO of Jerash Holdings. Please go ahead.

Executive
Richard J. Shaw

Thank you, Matt. Hello and thank you for joining us today. It is an exciting time to be at Jerash with record revenue results, new customers profitability, dividends and an agreement in hand to expand capacity by over $1.5 million pieces to further fuel our growth strategy. In fact, Jerash posted a record revenue third quarter at $18.7 million in sales for the period ended December 31st, 2018, an almost 62% increase year-over-year. That brings our year-to-date revenue total to $70.5 million which is in 16.6% increase and greater than our $69.3 million of revenue for the entire previous fiscal year.

I'll take the next few minutes to provide