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AMREP Reports First Quarter Fiscal 2023 Results

HAVERTOWN, Pa., Sept. 07, 2022 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $1,912,000, or $0.36 per diluted share, for its 2023 fiscal first quarter ended July 31, 2022 compared to net income of $1,637,000, or $0.22 per diluted share, for the same period of the prior year. Revenues were $11,232,000 for the first quarter of 2023 and $10,507,000 for the first quarter 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 July 31,

 

 

 

2022

 

 

2021

Revenues

 

$

11,232,000

 

$

10,507,000

Net income (loss)

 

$

1,912,000

 

$

1,637,000

Income (loss) per share – basic

 

$

0.36

 

$

0.22

Income (loss) per share – diluted

 

$

0.36

 

$

0.22

Weighted average number of common shares outstanding – basic

 

 

5,274,000

 

 

7,346,000

Weighted average number of common shares outstanding – diluted

 

 

5,296,000

 

 

7,373,000


CONTACT:

Adrienne M. Uleau

 

Vice President, Finance and Accounting

 

(610) 487-0907


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