Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - AMREP CORP. | tm2121988d2_8k.htm |
Exhibit 99.1
| FOR: | AMREP Corporation |
620 West Germantown Pike, Suite 175
Plymouth Meeting, Pennsylvania 19462
| CONTACT: | Adrienne M. Uleau |
Vice President, Finance and Accounting
(610) 487-0907
AMREP REPORTS FISCAL 2021 RESULTS
Plymouth Meeting, Pennsylvania, July 27, 2021 – AMREP Corporation (NYSE: AXR) today reported net income of $7,392,000, or $0.95 per diluted share, for its 2021 fiscal year ended April 30, 2021 compared to a net loss of $5,903,000, or $0.73 per share, for the prior year. Revenues were $40,069,000 for fiscal 2021 and $18,783,000 for fiscal 2020.
More information about the Company’s financial performance in 2021 and 2020 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, | ||||||||
| 2021 | 2020 | |||||||
| Revenues | $ | 40,069,000 | $ | 18,783,000 | ||||
| Net income (loss) | $ | 7,392,000 | $ | (5,903,000 | ) | |||
| Income (loss) per share – Basic | $ | 0.95 | $ | (0.73 | ) | |||
| Income (loss) per share – Diluted | $ | 0.95 | $ | (0.73 | ) | |||
| Weighted average number of common shares outstanding - basic | 7,743,000 | 8,134,000 | ||||||
| Weighted average number of common shares outstanding - diluted | 7,773,000 | 8,134,000 | ||||||