AMREP REPORTS SECOND QUARTER FISCAL 2022 RESULTS
FOR: AMREP Corporation
850 West Chester Pike, Suite 205
Havertown, PA 19083
CONTACT: Adrienne M. Uleau
Vice President, Finance and Accounting
(610) 487-0907
AMREP REPORTS SECOND QUARTER FISCAL 2022 RESULTS
Havertown, Pennsylvania, December 8, 2021 – AMREP Corporation (NYSE:AXR) today reported net income of $3,326,000, or $0.45 per diluted share, for its 2022 fiscal second quarter ended October 31, 2021 compared to net income of $798,000, or $0.10 per diluted share, for the same period of the prior year. For the first six months of 2022, AMREP had net income of $4,963,000, or $0.67 per diluted share, compared to net income of $1,391,000, or $0.17 per diluted share, for the same period of 2021. Revenues were $16,236,000 and $26,743,000 for the second quarter and first six months of 2022 and $9,256,000 and $13,462,000 for the second quarter and first six 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 October 31, | ||||
| 2021 | 2020 | |||
| Revenues | $ 16,236,000 | $ 9,256,000 | ||
| Net income (loss) | $ 3,326,000 | $ 798,000 | ||
| Income (loss) per share – basic | $ 0.45 | $ 0.10 | ||
| Income (loss) per share – diluted | $ 0.45 | $ 0.10 | ||
| Weighted average number of common shares outstanding – basic | 7,361,000 | 8,122,000 | ||
| Weighted average number of common shares outstanding – diluted | 7,383,000 | 8,152,000 | ||
| Six Months Ended October 31, | ||||
| 2021 | 2020 | |||
| Revenues | $ 26,743,000 | $ 13,462,000 | ||
| Net income (loss) | $ 4,963,000 | $ 1,391,000 | ||
| Income (loss) per share – basic | $ 0.67 | $ 0.17 | ||
| Income (loss) per share – diluted | $ 0.67 | $ 0.17 | ||
| Weighted average number of common shares outstanding – basic | 7,354,000 | 8,136,000 | ||
| Weighted average number of common shares outstanding – diluted | 7,378,000 | 8,168,000 | ||
