{"id":12264,"date":"2024-08-01T16:54:58","date_gmt":"2024-08-01T21:54:58","guid":{"rendered":"https:\/\/1reason.com\/re\/amrep-reports-fiscal-2024-results\/12264\/"},"modified":"2024-08-02T11:54:58","modified_gmt":"2024-08-02T16:54:58","slug":"amrep-reports-fiscal-2024-results","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/amrep-reports-fiscal-2024-results\/12264\/","title":{"rendered":"AMREP Reports Fiscal 2024 Results"},"content":{"rendered":"
Revenues were $51,369,000 for fiscal 2024 and $48,676,000 for fiscal 2023. <\/p>\n

Results for 2024 included revenue of $7,200,000 from the sale of property in Brighton, Colorado. Results for 2023 included a non-cash income tax benefit of $16,071,000 as a result of a worthless stock deduction related to the Company\u2019s former fulfillment services business and a non-cash pre-tax pension settlement general and administrative expense of $7,597,000 due to the Company\u2019s defined benefit pension plan paying certain lump sum payouts of pension benefits to former employees and the transfer of nearly all remaining pension benefit liabilities to an insurance company through an annuity purchase.<\/p>\n

More information about the Company\u2019s financial performance in 2024 and 2023 may be found in AMREP Corporation\u2019s financial statements on Form 10-K 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\n\n\n\n\n\n\n\n\n\n\n\n\n\n
FINANCIAL HIGHLIGHTS<\/strong><\/td>\n<\/tr>\n
<\/tr>\n
\n\nTwelve Months Ended April 30,<\/u><\/td>\n<\/tr>\n
\n\n\n2024<\/u><\/td>\n\n\n2023<\/u><\/td>\n<\/tr>\n
Revenues<\/td>\n\n$<\/td>\n51,369,000<\/td>\n\n$<\/td>\n48,676,000<\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n
Net income<\/td>\n\n$<\/td>\n6,690,000<\/td>\n\n$<\/td>\n21,790,000<\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n
Income per share \u2013 basic<\/td>\n\n$<\/td>\n1.26<\/td>\n\n$<\/td>\n4.13<\/td>\n<\/tr>\n
Income per share \u2013 diluted<\/td>\n\n$<\/td>\n1.25<\/td>\n\n$<\/td>\n4.11<\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n
Weighted average number of common shares outstanding \u2013 basic<\/td>\n\n\n5,300,000<\/td>\n\n\n5,282,000<\/td>\n<\/tr>\n
Weighted average number of common shares outstanding \u2013 diluted<\/td>\n\n\n5,347,000<\/td>\n\n\n5,307,000<\/td>\n<\/tr>\n<\/table>\n

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

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

\n

HAVERTOWN, Pa., July 23, 2024 (GLOBE NEWSWIRE) — AMREP Corporation (NYSE:AXR) today reported net income of $6,690,000, or $1.25 per diluted share, for its 2024 fiscal year ended April 30, 2024 compared to net income of $21,790,000, or $4.11 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\/12264"}],"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=12264"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/12264\/revisions"}],"predecessor-version":[{"id":12288,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/12264\/revisions\/12288"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=12264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=12264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=12264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}