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AMREP Corporation (symbol: AXR) is a dynamic player in the real estate industry, with a broad scope of activities encompassing land sales, leasing, and property investments. Headquartered in the United States, AMREP operates through two primary segments: Land Development and Homebuilding, generating the majority of its revenue from its land development efforts. The company engages in the acquisition, development, and sale of both developed and undeveloped lots to homebuilders, commercial users, and other entities.
AMREP has built a strong reputation for securing necessary approvals and developing high-quality properties that meet the stringent guidelines of its diverse clientele, including Fortune 500 companies. Beyond land development, the company's investments in commercial and investment properties further solidify its market position and drive its financial growth.
Kable Fulfillment, a subsidiary of AMREP, enhances the parent company's service offerings by providing superior quality, flexible, and cost-efficient fulfillment and marketing program solutions. Headquartered in Fairfield, Ohio, Kable has established long-standing relationships with clients of all sizes, delivering state-of-the-art fulfillment services and a variety of co-packaging solutions. These include automated shrink tunnels, overwrapping, skin packaging, and blister packaging, supported by 12 flexible assembly lines that cater to varying production demands.
The company's commitment to integrated, client-focused approaches is reflected in its continuous efforts to meet and exceed customer expectations. Recent achievements highlight the company's strategic partnerships and ongoing projects, positioning AMREP as a significant contributor to the real estate and fulfillment sectors.
AMREP Corporation's strategic approach, combined with its diversified service offerings, underscores its importance in the industry and its potential for future growth. Investors and stakeholders can rely on AMREP for consistent performance and innovative solutions that align with market demands.
AMREP Corporation (AXR) reported a significant increase in net income for the fiscal year ending April 30, 2022, totaling $15.86 million or $2.21 per diluted share, compared to $7.39 million or $0.95 per diluted share in the prior year. Revenues soared to $62.48 million, up from $40.07 million. Key contributors included $7.11 million from land sales and $8.44 million from building sales in multiple locations. The company's strong performance reflects its strategic real estate holdings and development activities in New Mexico.
AMREP Corporation (NYSE:AXR) reported a net income of $910,000, or $0.12 per diluted share, for Q3 2022, a decline from $2,093,000, or $0.28 per diluted share, in Q3 2021. However, YTD net income rose to $5,873,000, or $0.80 per diluted share, compared to $3,484,000, or $0.44 per diluted share, in the same period the previous year. Revenues for Q3 were $9,816,000, up from $7,864,000 in Q3 2021, and for the first nine months of 2022, revenues reached $36,559,000 versus $21,326,000 in 2021.
AMREP Corporation (AXR) announced strong financial results for its fiscal second quarter ended October 31, 2021, reporting a net income of $3,326,000 or $0.45 per diluted share, compared to $798,000 or $0.10 per diluted share in the previous year. For the first half of 2022, net income reached $4,963,000 or $0.67 per diluted share, up from $1,391,000 or $0.17 per diluted share in the same period of 2021. Revenues increased to $16,236,000 for the second quarter and $26,743,000 for the first six months, reflecting substantial year-over-year growth.
AMREP Corporation (NYSE:AXR) announced significant growth in its fiscal Q1 2022, reporting a net income of $1,637,000, or $0.22 per diluted share, a marked increase from $593,000, or $0.07 per diluted share in Q1 2021. Total revenues soared to $10,507,000 from $4,206,000 year-over-year. These results reflect AMREP's robust performance in land holdings and real estate development in New Mexico. Comprehensive financial details are available in the company’s 10-Q filings with the SEC.
AMREP Corporation (AXR) reported a significant turnaround for the fiscal year ending April 30, 2021, achieving net income of $7,392,000 or $0.95 per diluted share, compared to a net loss of $5,903,000 or $0.73 per share for the previous year. Revenues soared to $40,069,000, up from $18,783,000 in fiscal 2020. This performance showcases a robust recovery and growth in the real estate sector, positioning the company as a strong player in land development and homebuilding, particularly in New Mexico.
AMREP Corporation (NYSE: AXR) announced the appointment of Christopher V. Vitale as a director. Vitale, who has been the Chief Executive Officer since September 2017, is noted for his significant contributions to AMREP's operations since joining in 2013. Edward B. Cloues, II, AMREP’s Chairman, praised Vitale's deep understanding of the real estate sector and his role in expanding the company. AMREP specializes in land holding, real estate development, and homebuilding in New Mexico.
AMREP Corporation (AXR) reported a significant increase in net income for the third quarter of fiscal 2021, achieving $2,093,000 ($0.29 per share), compared to $338,000 ($0.04 per share) during the same period last year. For the first nine months of 2021, the company posted a net income of $3,484,000 ($0.44 per share), a recovery from a net loss of $2,027,000 in the prior year. Revenues for the quarter rose to $7,864,000 from $5,287,000, indicating robust performance in the real estate sector in New Mexico.
AMREP Corporation (AXR) reported a net income of $798,000 or $0.10 per share for Q2 2021, in contrast to a net loss of $2,169,000 or ($0.27) per share in the same quarter of 2020. For the first half of 2021, net income reached $1,391,000 or $0.17 per share compared to a net loss of $2,365,000 or ($0.29) per share in 2020. The revenue for Q2 was $9,256,000, significantly up from $3,960,000 in Q2 2020. This performance marks a recovery from previous losses, showcasing the company's ongoing operational improvements.
AMREP Corporation (NYSE: AXR) reported a net income of $593,000 or $0.07 per share for the first quarter of fiscal 2021, a turnaround from a net loss of $196,000 or $(0.02) per share in the previous year. Revenues decreased to $4.21 million, down from $4.77 million year-over-year. The board of directors has been reduced from four to three members following the resignation of Theodore J. Gaasche. AMREP primarily develops real estate in New Mexico.
AMREP Corporation (NYSE: AXR) reported a net loss of $5.9 million for the fiscal year ending April 30, 2020, translating to $0.73 per share, compared to a net income of $1.5 million or $0.19 per share in 2019. The results include $8.6 million in non-cash charges: a $2.9 million pension settlement for 309 former employees and $5.0 million in asset impairment charges linked to the earlier sale of its fulfillment services business. Revenue rose to $18.8 million from $12.8 million year-over-year.
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