AMREP Reports First Quarter Fiscal 2023 Results
AMREP Corporation (AXR) reported a net income of $1,912,000, or $0.36 per diluted share, for its first fiscal quarter ended July 31, 2022, compared to $1,637,000, or $0.22, in the same period last year. Revenues increased to $11,232,000 from $10,507,000 year-over-year. The company maintains a strong position as a significant landholder and real estate developer in New Mexico, with financial details further available in their Form 10-Q.
- Net income rose 17% year-over-year to $1.912 million.
- Revenue increased 6.9% to $11.232 million.
- None.
HAVERTOWN, Pa., Sept. 07, 2022 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of
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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