|Bid||0.0000 x 1100|
|Ask||5.0400 x 800|
|Day's Range||4.8400 - 4.9700|
|52 Week Range||3.9800 - 6.3500|
|Beta (5Y Monthly)||0.80|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Aug 08, 2007|
|1y Target Est||N/A|
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
PLYMOUTH MEETING, Pennsylvania, July 27, 2020 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE: AXR) today reported a net loss of $5,903,000, or $0.73 per share, for its 2020 fiscal year ended April 30, 2020 compared to net income of $1,527,000, or $0.19 per share, for the prior year. Results for 2020 included $8,600,000 of non-cash charges comprised of: (1) a non-cash pre-tax pension settlement charge of $2,929,000 due to the payment of lump sum payouts of pension benefits to 309 former employees and (2) net non-cash pre-tax impairment charges on other assets of $5,046,000 in connection with certain deemed consideration from the sale of the Company’s fulfillment services business. Results for 2019 reflected a net loss from continuing operations of $2,465,000 and net income from discontinued operations of $3,992,000. Discontinued operations resulted from the sale of AMREP’s fulfillment services business in April 2019.AMREP Corporation, through its subsidiaries, is a major holder of land and leading developer of real estate in New Mexico. FINANCIAL HIGHLIGHTS Twelve Months Ended April 30, 2020 2019 Revenues$ 18,783,000 $12,754,000 Net income (loss) from continuing operations$ (5,903,000) $(2,465,000) - Net income from discontinued operations - $ 3,992,000 - Net income (loss)$ (5,903,000) $ 1,527,000 (Loss) per share from continuing operations – Basic and Diluted $ (0.73 ) $ (0.30 ) - Income per share from discontinued operations – Basic and Diluted$ - $ 0.49 (Loss) income per share – Basic and Diluted$ (0.73) $ 0.19 Weighted average number of common shares outstanding - basic 8,134,000 8,099,000 Weighted average number of common shares outstanding - diluted 8,134,000 8,145,000 AMREP Corporation’s financial statements on Form 10-K are expected to be filed with the Securities and Exchange Commission concurrently with this release and will be available on AMREP’s website (www.amrepcorp.com/sec-filings/).FOR: AMREP Corporation 620 West Germantown Pike, Suite 175 Plymouth Meeting, Pennsylvania 19462 CONTACT: Adrienne M. Uleau Vice President, Finance and Accounting (610) 487-0907
For many investors, the main point of stock picking is to generate higher returns than the overall market. But its...