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Amrep Corp. (AXR) SEC Filing 10-Q Quarterly Report for the period ending Monday, January 31, 2022

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 THIRD QUARTER FISCAL 2022 RESULTS

 

Havertown, Pennsylvania, March 10, 2022 – AMREP Corporation (NYSE:AXR) today reported net income of $910,000, or $0.12 per diluted share, for its 2022 fiscal third quarter ended January 31, 2022 compared to net income of $2,093,000, or $0.28 per diluted share, for the same period of the prior year. For the first nine months of 2022, AMREP had net income of $5,873,000, or $0.80 per diluted share, compared to net income of $3,484,000, or $0.44 per diluted share, for the same period of 2021. Revenues were $9,816,000 and $36,559,000 for the third quarter and first nine months of 2022 and $7,864,000 and $21,326,000 for the third quarter and first nine 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 January 31, 
   2022   2021 
Revenues  $9,816,000   $7,864,000 
Net income (loss)  $910,000   $2,093,000 
Income (loss) per share – basic  $0.12   $0.29 
Income (loss) per share – diluted  $0.12   $0.28 
Weighted average number of common shares outstanding – basic   7,363,000    7,343,000 
Weighted average number of common shares outstanding – diluted   7,385,000    7,372,000 

 

   Nine Months Ended January 31, 
   2022   2021 
Revenues  $36,559,000   $21,326,000 
Net income (loss)  $5,873,000   $3,484,000 
Income (loss) per share – basic  $0.80   $0.44 
Income (loss) per share – diluted  $0.80   $0.44 
Weighted average number of common shares outstanding – basic   7,357,000    7,872,000 
Weighted average number of common shares outstanding – diluted   7,380,000    7,903,000 

 


The following information was filed by Amrep Corp. (AXR) on Thursday, March 10, 2022 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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Inside Amrep Corp.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly 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 Operations
Consolidated Statements Of Shareholders' Equity
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (Details)
Accounts Payable And Accrued Expenses (Tables)
Benefit Plans
Benefit Plans (Details)
Benefit Plans (Tables)
Benefit Plans - Additional Information (Details)
Cost Of Revenues
Cost Of Revenues (Details)
General And Administrative Expenses
General And Administrative Expenses (Details)
General And Administrative Expenses (Tables)
Information About The Company's Operations In Different Industry Segments
Information About The Company's Operations In Different Industry Segments (Details)
Information About The Company's Operations In Different Industry Segments (Tables)
Investment Assets, Net
Investment Assets, Net (Details)
Investment Assets, Net (Tables)
Investment Assets, Net - Additional Information (Details)
Notes Payable
Notes Payable (Details)
Notes Payable (Tables)
Notes Payable - Company's Financing Arrangements (Details)
Notes Payable - Principal Repayments (Details)
Other Assets
Other Assets (Details)
Other Assets (Tables)
Other Assets - Additional Information (Details)
Other Income
Other Income (Details)
Real Estate Inventory
Real Estate Inventory (Details)
Real Estate Inventory (Tables)
Revenues
Revenues (Tables)
Revenues - Additional Information (Details)
Revenues - Other Revenues (Details)
Stock Repurchases
Stock Repurchases (Details)
Summary Of Significant Accounting And Financial Reporting Policies
Summary Of Significant Accounting And Financial Reporting Policies (Policies)
Treasury Stock
Treasury Stock (Details)

Material Contracts, Statements, Certifications & more

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

Ticker: AXR
CIK: 6207
Form Type: 10-Q Quarterly Report
Accession Number: 0001410578-22-000333
Submitted to the SEC: Thu Mar 10 2022 4:32:12 PM EST
Accepted by the SEC: Thu Mar 10 2022
Period: Monday, January 31, 2022
Industry: Periodicals Publishing Or Publishing And Printing

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