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HAVERTOWN, Penn., March 10, 2022 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $910,000, or $0.12 per diluted share, for its 2022 fiscal third quarter ended January 31, 2022 compared to net income of $2,093,000, or $0.28 per diluted share, for the same period of the prior year. For the first nine months of 2022, AMREP had net income of $5,873,000, or $0.80 per diluted share, compared to net income of $3,484,000, or $0.44 per diluted share, for the same period of 2021. Revenues were $9,816,000 and $36,559,000 for the third quarter and first nine months of 2022 and $7,864,000 and $21,326,000 for the third quarter and first nine months of 2021.
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 January 31,
2022
2021
Revenues
$
9,816,000
$
7,864,000
Net income (loss)
$
910,000
$
2,093,000
Income (loss) per share – basic
$
0.12
$
0.29
Income (loss) per share – diluted
$
0.12
$
0.28
Weighted average number of common shares outstanding – basic
7,363,000
7,343,000
Weighted average number of common shares outstanding – diluted
7,385,000
7,372,000
Nine Months Ended January 31,
2022
2021
Revenues
$
36,559,000
$
21,326,000
Net income (loss)
$
5,873,000
$
3,484,000
Income (loss) per share – basic
$
0.80
$
0.44
Income (loss) per share – diluted
$
0.80
$
0.44
Weighted average number of common shares outstanding – basic
7,357,000
7,872,000
Weighted average number of common shares outstanding – diluted
7,380,000
7,903,000
CONTACT:
Adrienne M. Uleau Vice President, Finance and Accounting (610) 487-0907
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