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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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