• AMREP Reports Second Quarter Fiscal 2022 Results

    Source: Nasdaq GlobeNewswire / 08 Dec 2021 16:44:59   America/New_York

    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

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