HAVERTOWN, Pa., Dec. 08, 2021 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $3,326,000, or $0.45 per diluted share, for its 2022 fiscal second quarter ended October 31, 2021 compared to net income of $798,000, or $0.10 per diluted share, for the same period of the prior year. For the first six months of 2022, AMREP had net income of $4,963,000, or $0.67 per diluted share, compared to net income of $1,391,000, or $0.17 per diluted share, for the same period of 2021. Revenues were $16,236,000 and $26,743,000 for the second quarter and first six months of 2022 and $9,256,000 and $13,462,000 for the second quarter and first six months of 2021.
More information about the Company’s financial performance may be found in AMREP Corporation’s financial statements on Form 10-Q which have today been filed with the Securities and Exchange Commission and will be available on AMREP’s website (www.amrepcorp.com/sec-filings/).
AMREP Corporation, through its subsidiaries, is a major holder of land, leading developer of real estate and award-winning homebuilder in New Mexico.
FINANCIAL HIGHLIGHTS
|
Three Months Ended October 31, |
|
|
2021 |
|
|
2020 |
| Revenues |
$ |
16,236,000 |
|
$ |
9,256,000 |
| Net income (loss) |
$ |
3,326,000 |
|
$ |
798,000 |
| Income (loss) per share – basic |
$ |
0.45 |
|
$ |
0.10 |
| Income (loss) per share – diluted |
$ |
0.45 |
|
$ |
0.10 |
| Weighted average number of common shares outstanding – basic |
|
7,361,000 |
|
|
8,122,000 |
| Weighted average number of common shares outstanding – diluted |
|
7,383,000 |
|
|
8,152,000 |
|
Six Months Ended October 31, |
|
|
2021 |
|
|
2020 |
| Revenues |
$ |
26,743,000 |
|
$ |
13,462,000 |
| Net income (loss) |
$ |
4,963,000 |
|
$ |
1,391,000 |
| Income (loss) per share – basic |
$ |
0.67 |
|
$ |
0.17 |
| Income (loss) per share – diluted |
$ |
0.67 |
|
$ |
0.17 |
| Weighted average number of common shares outstanding – basic |
|
7,354,000 |
|
|
8,136,000 |
| Weighted average number of common shares outstanding – diluted |
|
7,378,000 |
|
|
8,168,000 |
| CONTACT: |
Adrienne M. Uleau |
|
Vice President, Finance and Accounting |
|
(610) 487-0907 |
