{"id":10350,"date":"2024-01-16T02:54:01","date_gmt":"2024-01-16T08:54:01","guid":{"rendered":"https:\/\/1reason.com\/re\/amrep-reports-second-quarter-fiscal-2024-results\/10350\/"},"modified":"2024-01-16T20:54:01","modified_gmt":"2024-01-17T02:54:01","slug":"amrep-reports-second-quarter-fiscal-2024-results","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/amrep-reports-second-quarter-fiscal-2024-results\/10350\/","title":{"rendered":"AMREP Reports Second Quarter Fiscal 2024 Results"},"content":{"rendered":"
For the first six months of 2024, AMREP had net income of $2,454,000, or $0.46 per diluted share, compared to net income of $5,533,000, or $1.04 per diluted share, for the same period of 2023. Revenues were $8,854,000 and $19,143,000 for the second quarter and first six months of 2024 and $16,149,000 and $26,856,000 for the second quarter and first six months of 2023. <\/p>\n

More information about the Company\u2019s financial performance may be found in AMREP Corporation\u2019s financial statements on Form 10-Q which have today been filed with the Securities and Exchange Commission and will be available on AMREP\u2019s website (www.amrepcorp.com\/sec-filings\/).<\/p>\n

AMREP Corporation, through its subsidiaries, is a major holder of land, leading developer of real estate and award-winning homebuilder in New Mexico.<\/p>\n

FINANCIAL HIGHLIGHTS<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\nThree Months Ended October 31,<\/u><\/td>\n<\/tr>\n
\n2023<\/u><\/td>\n\n2022<\/u><\/td>\n<\/tr>\n
Revenues<\/td>\n$<\/td>\n8,854,000<\/td>\n\n$<\/td>\n16,149,000<\/td>\n<\/tr>\n
\n\n\n\n\n<\/tr>\n
Net income<\/td>\n$<\/td>\n1,108,000<\/td>\n\n$<\/td>\n3,621,000<\/td>\n<\/tr>\n
Earnings per share \u2013 basic<\/td>\n$<\/td>\n0.21<\/td>\n\n$<\/td>\n0.69<\/td>\n<\/tr>\n
Earnings per share \u2013 diluted<\/td>\n$<\/td>\n0.21<\/td>\n\n$<\/td>\n0.68<\/td>\n<\/tr>\n
\n\n\n\n\n<\/tr>\n
Weighted average number of common shares outstanding \u2013 basic<\/td>\n\n5,301,000<\/td>\n\n\n5,281,000<\/td>\n<\/tr>\n
Weighted average number of common shares outstanding \u2013 diluted<\/td>\n\n5,339,000<\/td>\n\n\n5,307,000<\/td>\n<\/tr>\n
\n\n\n\n\n<\/tr>\n<\/table>\n

<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\nSix Months Ended October 31,<\/u><\/td>\n<\/tr>\n
\n2023<\/u><\/td>\n\n2022<\/u><\/td>\n<\/tr>\n
Revenues<\/td>\n$<\/td>\n19,143,000<\/td>\n\n$<\/td>\n26,856,000<\/td>\n<\/tr>\n
\n\n\n\n\n<\/tr>\n
Net income<\/td>\n$<\/td>\n2,454,000<\/td>\n\n$<\/td>\n5,533,000<\/td>\n<\/tr>\n
Earnings per share \u2013 basic<\/td>\n$<\/td>\n0.46<\/td>\n\n$<\/td>\n1.05<\/td>\n<\/tr>\n
Earnings per share \u2013 diluted<\/td>\n$<\/td>\n0.46<\/td>\n\n$<\/td>\n1.04<\/td>\n<\/tr>\n
\n\n\n\n\n<\/tr>\n
Weighted average number of common shares outstanding \u2013 basic<\/td>\n\n5,296,000<\/td>\n\n\n5,277,000<\/td>\n<\/tr>\n
Weighted average number of common shares outstanding \u2013 diluted<\/td>\n\n5,333,000<\/td>\n\n\n5,302,000<\/td>\n<\/tr>\n
\n\n\n\n\n<\/tr>\n<\/table>\n

CONTACT:
Adrienne M. Uleau
Vice President, Finance and Accounting
(610) 487-0907<\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

\n

HAVERTOWN, Pa., Dec. 11, 2023 (GLOBE NEWSWIRE) — AMREP Corporation (NYSE:AXR) today reported net income of $1,108,000, or $0.21 per diluted share, for its 2024 fiscal second quarter ended October 31, 2023 compared to net income of $3,621,000, or $0.68 per diluted share, for the same period of the prior year.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/10350"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=10350"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/10350\/revisions"}],"predecessor-version":[{"id":10359,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/10350\/revisions\/10359"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=10350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=10350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=10350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}