AMREP Reports Third Quarter Fiscal 2022 Results
11 March 2022 - 8:40AM
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. UleauVice President, Finance and Accounting(610)
487-0907 |
|
|
|
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