AMREP Reports Third Quarter Fiscal 2024 Results
08 Marzo 2024 - 3:40PM
AMREP Corporation (NYSE:AXR) today reported net income of $92,000,
or $0.02 per diluted share, for its 2024 fiscal third quarter ended
January 31, 2024 compared to net income of $16,574,000, or $3.12
per diluted share, for the same period of the prior year. For the
first nine months of 2024, AMREP had net income of $2,546,000, or
$0.48 per diluted share, compared to net income of $22,107,000, or
$4.17 per diluted share, for the same period of 2023. Revenues were
$12,689,000 and $31,833,000 for the third quarter and first nine
months of 2024 and $9,117,000 and $35,975,000 for the third quarter
and first nine months of 2023.
During the third quarter of 2023, AMREP
recognized a non-cash pre-tax pension settlement expense of
$2,336,000 as a result of its defined benefit pension plan paying
certain lump sum payouts of pension benefits to former employees
and a non-cash income tax benefit of $16,071,000 as a result of a
worthless stock deduction related to its former fulfillment
services business.
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.
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FINANCIAL HIGHLIGHTS |
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|
|
|
Three Months Ended January 31, |
|
|
2024 |
|
2023 |
|
Revenues |
$ |
12,689,000 |
|
|
$ |
9,117,000 |
|
|
|
|
|
|
|
|
|
|
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Net income |
$ |
92,000 |
|
|
$ |
16,574,000 |
|
|
Earnings per share – basic |
$ |
0.02 |
|
|
$ |
3.14 |
|
|
Earnings per share – diluted |
$ |
0.02 |
|
|
$ |
3.12 |
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding – basic |
|
5,303,000 |
|
|
|
5,284,000 |
|
|
Weighted average number of common shares outstanding – diluted |
|
5,346,000 |
|
|
|
5,310,000 |
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended January 31, |
|
|
2024 |
|
2023 |
|
Revenues |
$ |
31,833,000 |
|
|
$ |
35,975,000 |
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
2,546,000 |
|
|
$ |
22,107,000 |
|
|
Earnings per share – basic |
$ |
0.48 |
|
|
$ |
4.19 |
|
|
Earnings per share – diluted |
$ |
0.48 |
|
|
$ |
4.17 |
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding – basic |
|
5,299,000 |
|
|
|
5,280,000 |
|
|
Weighted average number of common shares outstanding – diluted |
|
5,341,000 |
|
|
|
5,304,000 |
|
|
|
|
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CONTACT: |
|
Adrienne M. UleauVice President, Finance and Accounting(610)
487-0907 |
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AMREP (NYSE:AXR)
Gráfica de Acción Histórica
De Oct 2024 a Nov 2024
AMREP (NYSE:AXR)
Gráfica de Acción Histórica
De Nov 2023 a Nov 2024
