JRSH - Jerash Holdings GAAP EPS of $0.14 revenue of $37.8M

• Jerash Holdings press release ( NASDAQ: JRSH ): Q2 GAAP EPS of $0.14.
• Revenue of $37.8M fell 17.3% year-over-year, primarily due to lower sales to its two major customers and higher inflation and inventory levels reported in the U.S.
• "General market conditions throughout the global retail sector continued to be impacted by inflationary pressures and higher interest rates, which have weakened consumer demand." - Chairman and CEO Sam Choi
• Q2 gross margin was 18.3%, compared with 22.1% in the same quarter last year, primarily driven by the lower proportion of export orders during quarter that typically generate higher margin.
• Going forward, Jerash said it remains "conservative" with forecasting, and expects Q3 2023 revenue to be in the range of $33M to $35M, with gross margin for the full year to be in the range of 16 percent to 18 percent.

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