COMPANY OVERVIEW Principally engaged in the manufacturing and exporting of customized, ready-made sport and outerwear from knitted fabric from our production facilities in Jordan. Utilized by many well-known brands and retailers, such as Walmart, Costco, Sears, Hanes, Columbia, Land’s End, VF Corporation (owner of brands such as The North Face, Nautica, Timberland, Wrangler, Lee, Jansport, etc.), and Philip-Van Heusen (owner of brands such as Calvin Klein, Tommy Hilfiger, IZOD, Speedo, etc.).
Production facilities are made up of three factory units and two warehouses employing approximately 2,700 people. Employees include local Jordanian workers as well as migrant workers from Sri Lanka, India, Bangladesh, Myanmar and Nepal. Total production capacity is approximately 550,000 pieces per month, and we currently intend to further expand our production capacity.
This is the current Investor presentation: https://s3.amazonaws.com/cdn.irdirect.net/PIR/1093/2598/Jerash%20Final%20Investor%20Presentation%203.14.18.PDF
INVESTMENT HIGHLIGHTS - Primarily manufactures outerwear for high profile, international brands - Profitable company with strong organic growth - Dedicated to high levels of quality control and meeting international manufacturing standards - Overseas production facilities located within a special free-trade zone allowing sales to the U.S. without tariff or quota restrictions - Received EU free tariff privilege in December 2017 -
Completion of factory expansion in 2017 increased capacity to accommodate additional growth - Full package production operations allow company to capture value from entire manufacturing production chain (sourcing, logistics, cut, make, trim, embroidery, finishing, inspection, and packaging) - Strong development capabilities in converting designs to mass production.
CERTIFICATIONS & COMPLIANCE – Worldwide Responsible Accredited Production – C-TPAT certified facility – Facility is monitored and supervised by Better Work Jordan, an audit wing of International Labor Organization (ILO) and International Finance Corporation (IFC) for social & ethical compliance. – Golden Listed Company – certification by Jordan Ministry of Labor – Certified for the Supplier Qualification Program (SQP) – Approved FCCA for Walmart – Audited by the FLA ( Fair Labor Association) for PVH – Passed the C-TPAT audit for Wal-Mart conducted by BV Jerash Begins Trading on NASDAQ
First Jordanian Company to List on Nasdaq Now Trading Under the Symbol JRSH
NEW YORK, NY / ACCESSWIRE / May 7, 2018 / Jerash Holdings (US), Inc. (NASDAQ: JRSH) (the "Company"), a producer of high quality textile goods for leading global brands, has commenced trading of its common stock on the Nasdaq Capital Market under the symbol JRSH.
Jerash is believed to be the first Jordanian company to list on a major US exchange. The company recently completed its IPO, raising more than $10 million in growth capital.
Jerash is principally engaged in the manufacturing and exporting of customized, ready made sport and outerwear goods from knitted fabrics.
The company provides manufacturing services 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.).
Jerash's facilities and workforce are located within a special free
trade zone allowing sales to the U.S. without tariff or quota restrictions.
The company owns three factory units and two warehouses and employs approximately 2,700 people. The total annual capacity at its facilities is approximately 6.5 million pieces.
The company is engaged in socially responsible employment practices, including the provision of jobs to Syrian refugees residing in Jordan. Jerash maintains a number of Jordanian and international certifications attesting to its production and workforce programs.
Revenue in Fiscal 2017, ended March 31, 2017, was $62.0 million, an increase of 18% year over year, and net profit was $10.6 million.
Through the first nine months of fiscal 2018, Jerash has reported revenue of $60.4 million, and net income of $11.4 million.
The company expects to report its financial results for Fiscal 2018, which ended March 31, 2018, in June.
On May 2, the company announced the closing of its "best efforts" initial public offering of common stock, at a price of $7.00 per share (the "offering"). The Company sold the maximum amount of shares in the oversubscribed offering, or 1,430,000 shares, for total gross proceeds to the Company of approximately $10,010,000 before deducting offering expenses. The company intends to use the proceeds of the offering as growth capital to build or acquire additional production capacity to meet rising demand for its production services.
A registration statement relating to these shares was declared effective by the Securities and Exchange Commission on March 14, 2018 (File No. 333-222596). The offering was made only by means of a written prospectus forming part of the registration statement. The final prospectus and any prospectus supplements relating to the offering are also available on the SEC's website at http://www.sec.gov. This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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 employ approximately 2,700 people. The total annual capacity at its facilities is approximately 6.5 million pieces. Additional information is available at http://www.jerashholdings.com.
Richard J. Shaw, Chief Financial Officer
Matt Kreps, Darrow Associates Investor Relations
SOURCE: Jerash Holdings (US) Inc.