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Amrep Corp. (AXR) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, April 30, 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 FISCAL 2022 RESULTS

 

Havertown, Pennsylvania, July 21, 2022 – AMREP Corporation (NYSE:AXR) today reported net income of $15,862,000, or $2.21 per diluted share, for its 2022 fiscal year ended April 30, 2022 compared to net income of $7,392,000, or $0.95 per diluted share, for the same period of the prior year. Revenues were $62,479,000 for fiscal 2022 and $40,069,000 for fiscal 2021. Results for 2022 included revenue of $7,107,000 from the sale to one purchaser of 1,196 acres of undeveloped land near Rio Rancho in Sandoval County, New Mexico, $8,439,000 from the sale of buildings in Albuquerque, New Mexico and Palm Coast, Florida and $6,054,000 from the sale of commercial land in Parker, Colorado, Rio Rancho, New Mexico and Albuquerque, New Mexico.

 

More information about the Company’s financial performance in 2022 and 2021 may be found in AMREP Corporation’s financial statements on Form 10-K 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

 

   Twelve Months Ended April 30, 
   2022   2021 
Revenues  $62,479,000   $40,069,000 
           
Net income  $15,862,000   $7,392,000 
           
Income per share – basic  $2.21   $0.95 
Income per share – diluted  $2.21   $0.95 
           
Weighted average number of common shares outstanding – basic   7,170,000    7,743,000 
Weighted average number of common shares outstanding – diluted   7,193,000    7,773,000 

 


The following information was filed by Amrep Corp. (AXR) on Thursday, July 21, 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-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 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 (Tables)
Benefit Plans - Additional Information (Details)
Benefit Plans - Allocation For The Pension Plan By Asset Category (Details)
Benefit Plans - Assumptions Used In Determining Net Periodic Pension Cost (Details)
Benefit Plans - Changes In Accumulated Other Comprehensive Loss Related To The Pension Plan (Details)
Benefit Plans - Changes In The Pension Plan's Benefit Obligation And Assets (Details)
Benefit Plans - Fair Value Hierarchy Of Pension Plan's Assets At Fair Value (Details)
Benefit Plans - Maximum Number Of Shares Issued To Employees That Could Be Vested (Details)
Benefit Plans - Net Periodic Pension Cost (Details)
Benefit Plans - Not Yet Recognized Components Of Net Periodic Pension Cost (Details)
Cost Of Revenues
Cost Of Revenues (Details)
Fair Value Measurements
General And Administrative Expenses
General And Administrative Expenses (Details)
General And Administrative Expenses (Tables)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Components Of The Net Deferred Income Taxes (Details)
Income Taxes - Reconciliation Of Taxes (Details)
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)
Lease Commitments
Lease Commitments (Details)
Notes Payable
Notes Payable (Details)
Notes Payable (Tables)
Notes Payable - Additional Information (Details)
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)
Real Estate Inventory - Additional Information (Details)
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)
Summary Of Significant Accounting And Financial Reporting Policies: (Details)
Treasury Stock
Treasury Stock (Details)
Ticker: AXR
CIK: 6207
Form Type: 10-K Annual Report
Accession Number: 0001410578-22-001969
Submitted to the SEC: Thu Jul 21 2022 4:43:36 PM EST
Accepted by the SEC: Thu Jul 21 2022
Period: Saturday, April 30, 2022
Industry: Periodicals Publishing Or Publishing And Printing

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