• AMREP Reports First Quarter Fiscal 2023 Results

    Source: Nasdaq GlobeNewswire / 07 Sep 2022 16:40:00   America/New_York

    HAVERTOWN, Pa., Sept. 07, 2022 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $1,912,000, or $0.36 per diluted share, for its 2023 fiscal first quarter ended July 31, 2022 compared to net income of $1,637,000, or $0.22 per diluted share, for the same period of the prior year. Revenues were $11,232,000 for the first quarter of 2023 and $10,507,000 for the first quarter of 2022.

    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 July 31,
       2022  2021
    Revenues $11,232,000 $10,507,000
    Net income (loss) $1,912,000 $1,637,000
    Income (loss) per share – basic $0.36 $0.22
    Income (loss) per share – diluted $0.36 $0.22
    Weighted average number of common shares outstanding – basic  5,274,000  7,346,000
    Weighted average number of common shares outstanding – diluted  5,296,000  7,373,000


    CONTACT:Adrienne M. Uleau
     Vice President, Finance and Accounting
     (610) 487-0907

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