HAVERTOWN, Penn., March 10, 2022 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $910,000, or $0.12 per diluted share, for its 2022 fiscal third quarter ended January 31, 2022 compared to net income of $2,093,000, or $0.28 per diluted share, for the same period of the prior year. For the first nine months of 2022, AMREP had net income of $5,873,000, or $0.80 per diluted share, compared to net income of $3,484,000, or $0.44 per diluted share, for the same period of 2021. Revenues were $9,816,000 and $36,559,000 for the third quarter and first nine months of 2022 and $7,864,000 and $21,326,000 for the third quarter and first nine 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 January 31, |
|
|
2022 |
|
2021 |
| Revenues |
|
$ |
9,816,000 |
|
$ |
7,864,000 |
| Net income (loss) |
|
$ |
910,000 |
|
$ |
2,093,000 |
| Income (loss) per share – basic |
|
$ |
0.12 |
|
$ |
0.29 |
| Income (loss) per share – diluted |
|
$ |
0.12 |
|
$ |
0.28 |
| Weighted average number of common shares outstanding – basic |
|
|
7,363,000 |
|
|
7,343,000 |
| Weighted average number of common shares outstanding – diluted |
|
|
7,385,000 |
|
|
7,372,000 |
|
|
Nine Months Ended January 31, |
|
|
2022 |
|
2021 |
| Revenues |
|
$ |
36,559,000 |
|
$ |
21,326,000 |
| Net income (loss) |
|
$ |
5,873,000 |
|
$ |
3,484,000 |
| Income (loss) per share – basic |
|
$ |
0.80 |
|
$ |
0.44 |
| Income (loss) per share – diluted |
|
$ |
0.80 |
|
$ |
0.44 |
| Weighted average number of common shares outstanding – basic |
|
|
7,357,000 |
|
|
7,872,000 |
| Weighted average number of common shares outstanding – diluted |
|
|
7,380,000 |
|
|
7,903,000 |
|
|
|
|
|
|
|
| CONTACT: |
|
Adrienne M. Uleau
Vice President, Finance and Accounting
(610) 487-0907 |
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