HAVERTOWN, Pa., Dec. 12, 2022 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $3,621,000, or $0.68 per diluted share, for its 2023 fiscal second quarter ended October 31, 2022 compared to net income of $3,326,000, or $0.45 per diluted share, for the same period of the prior year. For the first six months of 2023, AMREP had net income of $5,533,000, or $1.04 per diluted share, compared to net income of $4,963,000, or $0.67 per diluted share, for the same period of 2022. Revenues were $16,149,000 and $26,856,000 for the second quarter and first six months of 2023 and $16,112,000 and $26,098,000 for the second quarter and first six months of 2022.
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, |
|
|
|
2022 |
|
|
2021 |
| Revenues |
|
$ |
16,149,000 |
|
$ |
16,112,000 |
| Net income |
|
$ |
3,621,000 |
|
$ |
3,326,000 |
| Income per share – basic |
|
$ |
0.69 |
|
$ |
0.45 |
| Income per share – diluted |
|
$ |
0.68 |
|
$ |
0.45 |
| Weighted average number of common shares outstanding – basic |
|
|
5,281,000 |
|
|
7,361,000 |
| Weighted average number of common shares outstanding – diluted |
|
|
5,307,000 |
|
|
7,383,000 |
|
|
Six Months Ended October 31, |
|
|
|
2022 |
|
|
2021 |
| Revenues |
|
$ |
26,856,000 |
|
$ |
26,098,000 |
| Net income |
|
$ |
5,533,000 |
|
$ |
4,963,000 |
| Income per share – basic |
|
$ |
1.05 |
|
$ |
0.67 |
| Income per share – diluted |
|
$ |
1.04 |
|
$ |
0.67 |
| Weighted average number of common shares outstanding – basic |
|
|
5,277,000 |
|
|
7,354,000 |
| Weighted average number of common shares outstanding – diluted |
|
|
5,302,000 |
|
|
7,378,000 |
CONTACT:
Adrienne M. Uleau
Vice President, Finance and Accounting
(610) 487-0907
