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AMREP Reports First Quarter Fiscal 2024 Results

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AMREP Corporation reports net income of $1,346,000 for Q1 2024, down from $1,912,000 in Q1 2023. Revenues were $10,289,000 for Q1 2024, slightly lower than $10,707,000 in Q1 2023.
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HAVERTOWN, Pa., Sept. 13, 2023 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $1,346,000, or $0.25 per diluted share, for its 2024 fiscal first quarter ended July 31, 2023 compared to net income of $1,912,000, or $0.36 per diluted share, for the same period of the prior year. Revenues were $10,289,000 for the first quarter of 2024 and $10,707,000 for the first quarter of 2023.

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,
  2023   2022 
Revenues$10,289,000  $10,707,000 
    
Net income (loss)$      1,346,000  $1,912,000 
Income (loss) per share – basic$               0.25  $0.36 
Income (loss) per share – diluted$            0.25  $0.36 
    
Weighted average number of common shares outstanding – basic 5,292,000   5,274,000 
Weighted average number of common shares outstanding – diluted 5,325,000   5,296,000 


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 Corporation

NYSE:AXR

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Real Estate - Development
Land Subdividers & Developers (no Cemeteries)
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United States of America
HAVERTOWN