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Amrep Corp. (AXR) SEC Filing 8-K Material Event for the period ending Wednesday, December 8, 2021

Amrep Corp.

CIK: 6207 Ticker: AXR

Exhibit 99.1

 

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 

 

 

 

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Ticker: AXR
CIK: 6207
Form Type: 8-K Corporate News
Accession Number: 0001104659-21-147657
Submitted to the SEC: Wed Dec 08 2021 4:44:34 PM EST
Accepted by the SEC: Wed Dec 08 2021
Period: Wednesday, December 8, 2021
Industry: Periodicals Publishing Or Publishing And Printing
Events:
  1. Earnings Release
  2. Financial Exhibit

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