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/). As a result of many factors, including the nature and timing of specific transactions and the type and location of land or homes being sold, revenues, average selling prices and related gross margins from land sales or home sales can vary significantly from period to period and prior results are not necessarily a good indication of what may occur in future periods.
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, | ||||||
| 2024 | 2023 | |||||
| Revenues | $ | 11,906,000 | $ | 8,854,000 | ||
| Net income | $ | 4,042,000 | $ | 1,108,000 | ||
| Earnings per share – basic | $ | 0.76 | $ | 0.21 | ||
| Earnings per share – diluted | $ | 0.75 | $ | 0.21 | ||
| Weighted average number of common shares outstanding – basic | 5,320,000 | 5,301,000 | ||||
| Weighted average number of common shares outstanding – diluted | 5,374,000 | 5,339,000 | ||||
| Six Months Ended October 31, | ||||||
| 2024 | 2023 | |||||
| Revenues | $ | 30,997,000 | $ | 19,143,000 | ||
| Net income | $ | 8,106,000 | $ | 2,454,000 | ||
| Earnings per share – basic | $ | 1.53 | $ | 0.46 | ||
| Earnings per share – diluted | $ | 1.51 | $ | 0.46 | ||
| Weighted average number of common shares outstanding – basic | 5,314,000 | 5,296,000 | ||||
| Weighted average number of common shares outstanding – diluted | 5,367,000 | 5,333,000 | ||||
| CONTACT: | Adrienne M. Uleau |
| Vice President, Finance and Accounting | |
| (610) 487-0907 |
