AMREP Reports Fiscal 2021 Results
Rhea-AI Summary
AMREP Corporation (AXR) reported a significant turnaround for the fiscal year ending April 30, 2021, achieving net income of $7,392,000 or $0.95 per diluted share, compared to a net loss of $5,903,000 or $0.73 per share for the previous year. Revenues soared to $40,069,000, up from $18,783,000 in fiscal 2020. This performance showcases a robust recovery and growth in the real estate sector, positioning the company as a strong player in land development and homebuilding, particularly in New Mexico.
Positive
- Net income increased to $7,392,000 from a net loss of $5,903,000.
- Revenues grew significantly to $40,069,000, up from $18,783,000 in the previous year.
- Earnings per share improved to $0.95 from a loss of $0.73 per share.
Negative
- None.
News Market Reaction – AXR
On the day this news was published, AXR gained 5.26%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
PLYMOUTH MEETING, Pa., July 27, 2021 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE: AXR) today reported net income of
More information about the Company’s financial performance in 2021 and 2020 may be found in AMREP Corporation’s financial statements on Form 10-K 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
| Twelve Months Ended April 30, | |||||||
| 2021 | 2020 | ||||||
| Revenues | $ | 40,069,000 | $ | 18,783,000 | |||
| Net income (loss) | $ | 7,392,000 | $ | (5,903,000 | ) | ||
| Income (loss) per share – Basic | $ | 0.95 | $ | (0.73 | ) | ||
| Income (loss) per share – Diluted | $ | 0.95 | $ | (0.73 | ) | ||
| Weighted average number of common shares outstanding - basic | 7,743,000 | 8,134,000 | |||||
| Weighted average number of common shares outstanding - diluted | 7,773,000 | 8,134,000 | |||||
| CONTACT: | Adrienne M. Uleau |
| Vice President, Finance and Accounting | |
| (610) 487-0907 |
FAQ
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