• AMREP Reports Second Quarter Fiscal 2023 Results

    Source: Nasdaq GlobeNewswire / 12 Dec 2022 16:38:45   America/New_York

    HAVERTOWN, Pa., Dec. 12, 2022 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $3,621,000, or $0.68 per diluted share, for its 2023 fiscal second quarter ended October 31, 2022 compared to net income of $3,326,000, or $0.45 per diluted share, for the same period of the prior year. For the first six months of 2023, AMREP had net income of $5,533,000, or $1.04 per diluted share, compared to net income of $4,963,000, or $0.67 per diluted share, for the same period of 2022. Revenues were $16,149,000 and $26,856,000 for the second quarter and first six months of 2023 and $16,112,000 and $26,098,000 for the second quarter and first six months 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 October 31,
       2022  2021
    Revenues $16,149,000 $16,112,000
    Net income  $3,621,000 $3,326,000
    Income per share – basic $0.69 $0.45
    Income per share – diluted $0.68 $0.45
    Weighted average number of common shares outstanding – basic  5,281,000  7,361,000
    Weighted average number of common shares outstanding – diluted  5,307,000  7,383,000


      Six Months Ended October 31,
       2022  2021
    Revenues $26,856,000 $26,098,000
    Net income  $5,533,000 $4,963,000
    Income per share – basic $1.05 $0.67
    Income per share – diluted $1.04 $0.67
    Weighted average number of common shares outstanding – basic  5,277,000  7,354,000
    Weighted average number of common shares outstanding – diluted  5,302,000  7,378,000


     

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


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