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AMREP Corporation reports net income of $1,346,000 for Q1 2024, down from $1,912,000 in Q1 2023. Revenues were $10,289,000 for Q1 2024, slightly lower than $10,707,000 in Q1 2023.
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HAVERTOWN, Pa., Sept. 13, 2023 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $1,346,000, or $0.25 per diluted share, for its 2024 fiscal first quarter ended July 31, 2023 compared to net income of $1,912,000, or $0.36 per diluted share, for the same period of the prior year. Revenues were $10,289,000 for the first quarter of 2024 and $10,707,000 for the first quarter of 2023.
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,
2023
2022
Revenues
$
10,289,000
$
10,707,000
Net income (loss)
$
1,346,000
$
1,912,000
Income (loss) per share – basic
$
0.25
$
0.36
Income (loss) per share – diluted
$
0.25
$
0.36
Weighted average number of common shares outstanding – basic
5,292,000
5,274,000
Weighted average number of common shares outstanding – diluted
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