AMREP Reports Fiscal 2022 Results
21 Juli 2022 - 10:50PM
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 |
CONTACT: |
Adrienne M.
Uleau |
|
Vice President, Finance and Accounting |
|
(610) 487-0907 |
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