AMREP Reports First Quarter Fiscal 2022 Results
AMREP Corporation (NYSE:AXR) announced significant growth in its fiscal Q1 2022, reporting a net income of $1,637,000, or $0.22 per diluted share, a marked increase from $593,000, or $0.07 per diluted share in Q1 2021.
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Rhea-AI Summary
AMREP Corporation (NYSE:AXR) announced significant growth in its fiscal Q1 2022, reporting a net income of $1,637,000, or $0.22 per diluted share, a marked increase from $593,000, or $0.07 per diluted share in Q1 2021. Total revenues soared to $10,507,000 from $4,206,000 year-over-year. These results reflect AMREP's robust performance in land holdings and real estate development in New Mexico. Comprehensive financial details are available in the company’s 10-Q filings with the SEC.
Positive
- Net income increased by 176% year-over-year.
- Total revenues more than doubled, reflecting strong business growth.
Negative
- None.
Details
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HAVERTOWN, Pa., Sept. 14, 2021 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of
More information about the Company’s financial performance for the first quarters of 2022 and 2021 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, | ||||||
| 2021 | 2020 | |||||
| Revenues | $ | 10,507,000 | $ | 4,206,000 | ||
| Net income (loss) | $ | 1,637,000 | $ | 593,000 | ||
| Income (loss) per share – basic | $ | 0.22 | $ | 0.07 | ||
| Income (loss) per share – diluted | $ | 0.22 | $ | 0.07 | ||
| Weighted average number of common shares outstanding – basic | 7,346,000 | 8,151,000 | ||||
| Weighted average number of common shares outstanding – diluted | 7,373,000 | 8,182,000 | ||||
| CONTACT: | Adrienne M. Uleau |
| Vice President, Finance and Accounting | |
| (610) 487-0907 |
FAQ
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