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Amrep Corp. (AXR) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, April 30, 2019

Amrep Corp.

CIK: 6207 Ticker: AXR

 

Exhibit 99.1

FOR: AMREP Corporation
  620 West Germantown Pike, Suite 175
  Plymouth Meeting, Pennsylvania 19462
   
CONTACT: James McMonagle
  Vice President and Chief Financial Officer
  (610) 487-0904

 

AMREP REPORTS THIRD QUARTER FISCAL 2019 RESULTS

 

Plymouth Meeting, Pennsylvania, March 13, 2019 – AMREP Corporation (NYSE: AXR) today reported a net loss of $32,000, or $0.00 per share, for its 2019 third fiscal quarter ended January 31, 2019 compared to a net loss of $2,851,000, or $0.35 per share, for the same period of the prior year. For the first nine months of 2019, the Company had net income of $84,000, or $0.01 per share, compared to a net loss of $1,125,000, or $0.14 per share, for the same period of 2018. Net results for 2018 were unfavorably impacted by federal tax law changes enacted during the Company’s third quarter of 2018 that reduced the value of the Company’s deferred tax assets. Revenues were $9,340,000 and $30,663,000 for the third quarter and first nine months of 2019 compared to $10,379,000 and $30,880,000 for the same periods of 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 land and leading developer of real estate in New Mexico 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 January 31, 
   2019   2018 
         
Revenues  $9,340,000   $10,379,000 
           
Net (loss)  $(32,000)  $(2,851,000)
           
(Loss) per share – Basic and Diluted  $(0.00)  $(0.35)
           
Weighted average number of common shares outstanding - basic   8,103,000    8,075,000 
Weighted average number of common shares outstanding - diluted   8,103,000    8,075,000 

 

 

   Nine Months Ended January 31, 
   2019   2018 
         
Revenues  $30,663,000   $30,880,000 
           
Net income (loss)  $84,000   $(1,125,000)
           
Earnings (loss) per share – Basic and Diluted  $0.01   $(0.14)
           
Weighted average number of common shares outstanding - basic   8,095,000    8,070,000 
Weighted average number of common shares outstanding - diluted   8,140,000    8,070,000 

  

AMREP Corporation’s financial statements on Form 10-Q are expected to be filed with the Securities and Exchange Commission concurrently 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 Wednesday, March 13, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Amrep Corp.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets [Parenthetical]
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income [Parenthetical]
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Accounts Payable And Accrued Expenses:
Accounts Payable And Accrued Expenses: (Details Textual)
Accounts Payable And Accrued Expenses: (Details)
Accounts Payable And Accrued Expenses: (Tables)
Benefit Plans:
Benefit Plans: (Details 1)
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Benefit Plans: (Details 6)
Benefit Plans: (Details 7)
Benefit Plans: (Details Textual)
Benefit Plans: (Details)
Benefit Plans: (Tables)
Commitments And Contingencies:
Commitments And Contingencies: (Details Textual)
Discontinued Operations:
Discontinued Operations: (Details 1)
Discontinued Operations: (Details 2)
Discontinued Operations: (Details 3)
Discontinued Operations: (Details 4)
Discontinued Operations: (Details Textual)
Discontinued Operations: (Details)
Discontinued Operations: (Tables)
Fair Value Measurements:
Income Taxes:
Income Taxes: (Details 1)
Income Taxes: (Details 2)
Income Taxes: (Details 3)
Income Taxes: (Details Textual)
Income Taxes: (Details)
Income Taxes: (Tables)
Investment Assets:
Investment Assets: (Details Textual)
Investment Assets: (Details)
Investment Assets: (Tables)
Litigation:
Notes Payable:
Notes Payable: (Details Textual)
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Notes Payable: (Tables)
Other Assets:
Other Assets: (Details Textual)
Other Assets: (Details)
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Other Revenues:
Other Revenues: (Details Textual)
Other Revenues: (Details)
Other Revenues: (Tables)
Real Estate Inventory:
Real Estate Inventory: (Details Textual)
Restricted Cash:
Restricted Cash: (Details Textual)
Restricted Cash: (Details)
Restricted Cash: (Tables)
Subsequent Events:
Subsequent Events: (Details Textual)
Summary Of Significant Accounting And Financial Reporting Policies (Policies)
Summary Of Significant Accounting And Financial Reporting Policies:
Summary Of Significant Accounting And Financial Reporting Policies: (Details Textual)
Ticker: AXR
CIK: 6207
Form Type: 10-K Annual Report
Accession Number: 0001144204-19-036278
Submitted to the SEC: Fri Jul 26 2019 1:19:40 PM EST
Accepted by the SEC: Fri Jul 26 2019
Period: Tuesday, April 30, 2019
Industry: Periodicals Publishing Or Publishing And Printing

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