{"id":1626,"date":"2021-01-12T14:48:00","date_gmt":"2021-01-12T20:48:00","guid":{"rendered":"https:\/\/1reason.com\/re\/amrep-reports-second-quarter-fiscal-2021-results\/1626\/"},"modified":"2021-01-13T08:48:00","modified_gmt":"2021-01-13T14:48:00","slug":"amrep-reports-second-quarter-fiscal-2021-results","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/amrep-reports-second-quarter-fiscal-2021-results\/1626\/","title":{"rendered":"AMREP Reports Second Quarter Fiscal 2021 Results"},"content":{"rendered":"
For the first six months of 2021, AMREP had net income of $1,391,000, or $0.17 per share, compared to a net loss of $2,365,000, or $0.29 per share, for the same period of 2020. During the second quarter of 2020, AMREP recognized a non-cash pre-tax settlement charge of $2,929,000 due to AMREP\u2019s defined benefit pension plan paying certain lump sum payouts of pension benefits to former employees. <\/p>\n

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

FINANCIAL HIGHLIGHTS<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThree Months Ended October 31,<\/u><\/td>\n<\/tr>\n
\n\n\n2020<\/u><\/td>\n\n\n2019<\/u><\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n
Revenues<\/td>\n\n$<\/td>\n 9,256,000<\/td>\n\n$<\/td>\n3,960,000<\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n
Net income (loss)<\/td>\n\n$<\/td>\n 798,000<\/td>\n\n$<\/td>\n(2,169,000<\/td>\n)<\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n
Income (loss) per share \u2013 Basic and Diluted<\/td>\n\n$<\/td>\n 0.10<\/td>\n\n$<\/td>\n(0.27<\/td>\n)<\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n
Weighted average number of common shares outstanding – basic<\/td>\n\n\n8,122,000<\/td>\n\n\n8,129,000<\/td>\n<\/tr>\n
Weighted average number of common shares outstanding – diluted<\/td>\n\n\n8,152,000<\/td>\n\n\n8,129,000<\/td>\n<\/tr>\n<\/table>\n

<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nSix Months Ended October 31,<\/u><\/td>\n<\/tr>\n
\n\n\n2020<\/u><\/td>\n\n\n2019<\/u><\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n
Revenues<\/td>\n\n$<\/td>\n13,462,000<\/td>\n\n$<\/td>\n8,727,000<\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n
Net income (loss)<\/td>\n\n$<\/td>\n 1,391,000<\/td>\n\n$<\/td>\n(2,365,000<\/td>\n)<\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n
Income (loss) per share \u2013 Basic and Diluted<\/td>\n\n$<\/td>\n 0.17<\/td>\n\n$<\/td>\n(0.29<\/td>\n)<\/td>\n<\/tr>\n
\n\n\n\n<\/tr>\n
Weighted average number of common shares outstanding – basic<\/td>\n\n\n8,136,000<\/td>\n\n\n8,125,000<\/td>\n<\/tr>\n
Weighted average number of common shares outstanding – diluted<\/td>\n\n\n8,168,000<\/td>\n\n\n8,125,000<\/td>\n<\/tr>\n<\/table>\n

AMREP Corporation\u2019s financial statements on Form 10-Q are expected to be filed with the Securities and Exchange Commission concurrently with this release and will be available on AMREP\u2019s website (www.amrepcorp.com\/sec-filings\/<\/a>).<\/p>\n

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

<\/p>\n

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

\n

PLYMOUTH MEETING, Pa., Dec. 08, 2020 (GLOBE NEWSWIRE) — AMREP Corporation (NYSE: AXR) today reported net income of $798,000, or $0.10 per share, for its 2021 fiscal second quarter ended October 31, 2020 compared to a net loss of $2,169,000, or $0.27 per 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\/1626"}],"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=1626"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/1626\/revisions"}],"predecessor-version":[{"id":1638,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/1626\/revisions\/1638"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=1626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=1626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=1626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}