AMREP Reports Third Quarter Fiscal 2021 Results

Plymouth Meeting, Pennsylvania, UNITED STATES


PLYMOUTH MEETING, Pa., March 11, 2021 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $2,093,000, or $0.29 per share, for its 2021 fiscal third quarter ended January 31, 2021 compared to net income of $338,000, or $0.04 per share, for the same period of the prior year. For the first nine months of 2021, AMREP had net income of $3,484,000, or $0.44 per share, compared to a net loss of $2,027,000, or $0.25 per share, for the same period of 2020.

AMREP Corporation, through its subsidiaries, is a major holder of land and leading developer of real estate in New Mexico.        

FINANCIAL HIGHLIGHTS

 Three Months Ended January 31,
  2021  2020
    
Revenues$7,864,000 $5,287,000
    
Net income (loss)$2,093,000 $338,000
    
Income (loss) per share – basic$0.29 $0.04
Income (loss) per share – diluted$0.28 $0.04
    
Weighted average number of common shares outstanding – basic 7,343,000  8,138,000
Weighted average number of common shares outstanding – diluted 7,372,000  8,174,000
      


 Nine Months Ended January 31,
  2021  2020 
    
Revenues$21,326,000 $14,014,000 
    
Net income (loss)$3,484,000 $(2,027,000)
    
Income (loss) per share – basic$0.44 $(0.25)
Income (loss) per share – diluted$0.44 $(0.25)
    
Weighted average number of common shares outstanding – basic 7,872,000  8,129,000 
Weighted average number of common shares outstanding – diluted 7,903,000  8,129,000 
       

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 AMREP’s website (www.amrepcorp.com/sec-filings/).



Contact Data