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Amrep Corp. (AXR) SEC Filing 10-Q Quarterly report for the period ending Tuesday, October 31, 2017

Amrep Corp.

CIK: 6207 Ticker: AXR

Exhibit 99.1

 

 

FOR:AMREP Corporation

620 West Germantown Pike, Suite 175

Plymouth Meeting, Pennsylvania 19462

 

CONTACT:James M. McMonagle

Vice President and Chief Financial Officer

(610) 487-0904

 

AMREP REPORTS SECOND QUARTER FISCAL 2018 RESULTS

 

Plymouth Meeting, Pennsylvania, December 12, 2017 – AMREP Corporation (NYSE: AXR) today reported net income of $278,000, or $0.03 per share, for its 2018 second fiscal quarter ended October 31, 2017 compared to net income of $112,000, or $0.01 per share, for the same period of 2017. For the first six months of 2018, the Company had net income of $1,726,000, or $0.21 per share, compared to net income of $742,000, or $0.09 per share, for the same period of 2017. Revenues were $9,175,000 and $20,501,000 for the second quarter and first six months of 2018 compared to $11,465,000 and $23,673,000 for the same periods in the prior year.

 

AMREP Corporation, through its subsidiaries, is primarily engaged in two business segments: its Real Estate business operated by AMREP Southwest Inc. and its subsidiaries is a major holder of real estate in the Rio Rancho, New Mexico area and its Fulfillment Services business operated by Palm Coast Data LLC performs fulfillment and contact center services for publications, membership organizations, government agencies and other direct marketers.

 

FINANCIAL HIGHLIGHTS

 

   Three Months Ended October 31, 
   2017   2016 
Revenues  $9,175,000   $11,465,000 
Net income  $278,000   $112,000 
Earnings per share – Basic and Diluted  $0.03   $0.01 
Weighted average number of common shares outstanding - basic   8,070,000    8,050,000 
Weighted average number of common shares outstanding - diluted   8,102,000    8,077,000 

 

   Six Months Ended October 31, 
   2017   2016 
Revenues  $20,501,000   $23,673,000 
Net income  $1,726,000   $742,000 
Earnings per share – Basic and Diluted  $0.21   $0.09 
Weighted average number of common shares outstanding - basic   8,067,000    8,046,000 
Weighted average number of common shares outstanding - diluted   8,096,000    8,071,000 

 

AMREP Corporation’s financial statements on Form 10-Q are expected to be filed jointly with this release and will be available on the Company’s website (www.amrepcorp.com/SECfiles).

 


The following information was filed by Amrep Corp. (AXR) on Tuesday, December 12, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Amrep Corp. provided additional information to their SEC Filing as exhibits

Ticker: AXR
CIK: 6207
Form Type: 10-Q Quarterly Report
Accession Number: 0001144204-17-063342
Submitted to the SEC: Tue Dec 12 2017 4:24:23 PM EST
Accepted by the SEC: Tue Dec 12 2017
Period: Tuesday, October 31, 2017
Industry: Periodicals Publishing Or Publishing And Printing

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