Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
Please consider a small donation if you think this website provides you with relevant information
| Statement |
|---|
| While maintaining strong relationships with our long-established customers, order flow from our newly customers is increasing steadily, and we are consistently attracting new global brands |
| Our long-term goal remains intact, namely being a trusted manufacturing partner, providing sustainable textile solutions and growing responsibly as an environmentally conscious leader in the apparel industry |
| We continue to make good progress attracting a fresh pipeline of orders from new customers with established global brands |
| We are particularly excited about our growth opportunity in Europe where we have gained another European-based high-end apparel brand and have begun to produce several trial orders |
| These are all positive indicators for the future |
| Jerash's balance sheet and cash position remain strong in the fiscal year 2024 third quarter with $21.2 million of cash and restricted cash and net working capital of $40.5 million as of December 31, 2023 |
| And we're earning pretty good interest on those deposits |
| Gross margin improved [278] basis points to 16.2% compared with 13.5% a year ago |
| We are well on our way to fulfilling that mission |
| While revenue was significantly down for the fiscal 2024 third quarter, due in large part to the ongoing geopolitical situation and supply chain issues in the region, we were able to achieve profitability and improve the gross margin |
| customers that generate higher margins |
| As Sam mentioned earlier, we are excited to see further penetration into the European market |
| Todd Felte Good work despite the challenging times |
| Additionally, the Jordanian Ministry of Foreign Affairs specifically reassure our team that the government is proactive in maintaining a safe and stable environment for businesses, including the protection of export sea routes |
| The increase was primarily due to improved product mix as we continue to produce larger proportion of orders for our U.S |
| Orders from our first European-based high-end apparel brands are increasing, and we have attracted yet another European-based high-end apparel brand too |
| While we are grateful that day-to-day life in Jordan remains normal, our hearts go out to the innocent victims on all sides of the Middle East conflict, and we are hopeful for a near-term resolution |
| We are continuing to execute on our strategic initiatives to diversify our customer base |
| Jerash is continuing to be a trusted manufacturing partner for VF Corporation |
| And that part is working well |
| We took swift and decisive action |
| Great |
| Eric Tang Yes, about Busana, actually, the progress is quite convincing because we have already confirmed, I think, two, three months ago with four or five new customers, ranging from Busana's side |
| Sam Choi Thank you, operator, and thanks to all of you for joining us today and for your continuous support |
| Hello, everyone |
| And I think we will be able to know better the situation maybe after one month |
| Good morning |
| Meanwhile, joint marketing efforts are continuing, and we believe the partnership will flourish in the future |
| Eric and his team are working very hard to handle that |
| But I'm still optimistic about the joint venture with Busana |
| Statement |
|---|
| [technical difficulty] You were talking about the dividend payment and the lack of profitability |
| As we have all been reading and seeing in the news, due to political turmoil has caused supply chain disruptions throughout the region, which in return for us has delayed shipments of raw materials from Asia |
| The supply chain disruptions have slowed down our production, which in turn resulted in delayed shipments to our customers for our fiscal first quarter |
| Importantly, orders from our customers were delayed, but they were not canceled |
| We're facing more problems about the raw material inbound shipments because it has to come through Yemen because the raw material comes from Asia |
| The decrease was primarily due to the supply chain interruptions with fewer shipments being delivered to some of the major customers in the U.S |
| So this is the reason why we cannot be able to start the production as scheduled |
| First of all, the outbound shipments at the beginning of the Red Sea crisis, there was some interruption |
| And some of the customers, they are being -- they're concerned, obviously |
| And the overall inform the customer that these containers are delayed, and those raw materials will be delayed |
| So the slowdown, you aren't able to receive in the raw materials to be able to turn those into finished goods and then ship them out? Or are you having problems shipping? Just trying to understand a little bit where the bottleneck here is |
| So there are just some delays |
| So -- but unfortunately, the Red Sea crisis happened in December |
| Lastly, with the ongoing geopolitical uncertainties in the Middle East, it would be imprudent for us to provide formal guidance at this time on what to expect for fiscal fourth quarter |
| And we still did not be able to receive any containers |
| It is just that there may be some delay |
| Just kind of getting back to the core issue about the supply chain |
| I think the Haifa port was shut down for a short period of time |
| It was serious considered in 2019 |
| So I don't think -- I think it is just a temporary issue |
Please consider a small donation if you think this website provides you with relevant information