HAVERTOWN, Penn., March 10, 2022 (GLOBE NEWSWIRE) — AMREP Corporation (NYSE:AXR) today reported net income of $910,000, or $0.12 per diluted share, for its 2022 fiscal third quarter ended January 31, 2022 compared to net income of $2,093,000, or $0.28 per diluted share, for the same period of the prior year. For the first nine months of 2022, AMREP had net income of $5,873,000, or $0.80 per diluted share, compared to net income of $3,484,000, or $0.44 per diluted share, for the same period of 2021. Revenues were $9,816,000 and $36,559,000 for the third quarter and first nine months of 2022 and $7,864,000 and $21,326,000 for the third quarter and first nine 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 January 31, | ||||||
| 2022 | 2021 | |||||
| Revenues | $ | 9,816,000 | $ | 7,864,000 | ||
| Net income (loss) | $ | 910,000 | $ | 2,093,000 | ||
| Income (loss) per share – basic | $ | 0.12 | $ | 0.29 | ||
| Income (loss) per share – diluted | $ | 0.12 | $ | 0.28 | ||
| Weighted average number of common shares outstanding – basic | 7,363,000 | 7,343,000 | ||||
| Weighted average number of common shares outstanding – diluted | 7,385,000 | 7,372,000 | ||||
| Nine Months Ended January 31, | ||||||
| 2022 | 2021 | |||||
| Revenues | $ | 36,559,000 | $ | 21,326,000 | ||
| Net income (loss) | $ | 5,873,000 | $ | 3,484,000 | ||
| Income (loss) per share – basic | $ | 0.80 | $ | 0.44 | ||
| Income (loss) per share – diluted | $ | 0.80 | $ | 0.44 | ||
| Weighted average number of common shares outstanding – basic | 7,357,000 | 7,872,000 | ||||
| Weighted average number of common shares outstanding – diluted | 7,380,000 | 7,903,000 | ||||
| CONTACT: | Adrienne M. Uleau Vice President, Finance and Accounting (610) 487-0907 |
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