HOME CORPORATE DIRECTORY INVESTOR RELATIONS CORPORATE GOVERNANCE SEC FILINGS Author - admin 14 Sep AMREP REPORTS FIRST QUARTER FISCAL 2022 RESULTS 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 FIRST QUARTER FISCAL 2022 RESULTS Havertown, Pennsylvania, September 14, 2021 – AMREP Corporation (NYSE:AXR) today reported net income of $1,637,000, or $0.22 per diluted share, for its 2022 fiscal first quarter ended July 31, 2021 compared to net income of $593,000, or $0.07 per diluted share, for the same period of the prior year. Revenues were $10,507,000 for the first quarter of 2022 and $4,206,000 for the first quarter of 2021. More information about the Company’s financial performance for the first quarters of 2022 and 2021 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. FINANCIAL HIGHLIGHTS Three Months Ended July 31, 2021 2020 Revenues $ 10,507,000 $ 4,206,000 Net income (loss) $ 1,637,000 $ 593,000 Income (loss) per share – basic $ 0.22 $ 0.07 Income (loss) per share – diluted $ 0.22 $ 0.07 Weighted average number of common shares outstanding – basic 7,346,000 8,151,000 Weighted average number of common shares outstanding – diluted 7,373,000 8,182,000 By admin 2021 Press Releases Comments Off READ MORE... 28 Jul AMREP REPORTS THIRD QUARTER FISCAL 2021 RESULTS 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 THIRD QUARTER FISCAL 2021 RESULTS Plymouth Meeting, Pennsylvania, March 11, 2021 – 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/). By admin 2021 Press Releases 0 Comments READ MORE... 11 Mar AMREP REPORTS SECOND QUARTER FISCAL 2021 RESULTS 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 SECOND QUARTER FISCAL 2021 RESULTS Plymouth Meeting, Pennsylvania, December 8, 2020 – AMREP Corporation (NYSE: AXR) today reported net income of $798,000, or $0.10 per share, for its 2021 fiscal second quarter ended October 31, 2020 compared to a net loss of $2,169,000, or $0.27 per share, for the same period of the prior year. For the first six months of 2021, AMREP had net income of $1,391,000, or $0.17 per share, compared to a net loss of $2,365,000, or $0.29 per share, for the same period of 2020. During the second quarter of 2020, AMREP recognized a non-cash pre-tax settlement charge of $2,929,000 due to AMREP’s defined benefit pension plan paying certain lump sum payouts of pension benefits to former employees. AMREP Corporation, through its subsidiaries, is a major holder of land and leading developer of real estate in New Mexico. Three Months Ended October 31, 2020 2019 Revenues $ 9,256,000 $ 3,960,000 Net income (loss) $ 798,000 $ (2,169,000) Income (loss) per share – Basic and Diluted $ 0.10 $ (0.27) Weighted average number of common shares outstanding - basic 8,122,000 8,129,000 Weighted average number of common shares outstanding - diluted 8,152,000 8,129,000 Six Months Ended October 31, 2020 2019 Revenues $ 13,462,000 $ 8,727,000 Net income (loss) $ 1,391,000 $ (2,365,000) Income (loss) per share – Basic and Diluted $ 0.17 $ (0.29) Weighted average number of common shares outstanding - basic 8,136,000 8,125,000 Weighted average number of common shares outstanding - diluted 8,168,000 8,125,000 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/). By admin Uncategorized 0 Comments READ MORE... 08 Dec AMREP REPORTS FIRST QUARTER FISCAL 2021 RESULTS AND ANNOUNCES DIRECTOR RESIGNATION 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 FIRST QUARTER FISCAL 2021 RESULTS AND ANNOUNCES DIRECTOR RESIGNATION Plymouth Meeting, Pennsylvania, September 9, 2020 – AMREP Corporation (NYSE: AXR) today reported net income of $593,000, or $0.07 per share, for its 2021 fiscal first quarter ended July 31, 2020 compared to a net loss of $196,000, or $0.02 per share, for the same period of the prior year. In addition, AMREP reported that Theodore J. Gaasche has resigned as a director of AMREP for personal reasons and has withdrawn as a director nominee for consideration at the annual meeting of shareholders of AMREP to be held on September 10, 2020. Given this development, the board of directors has reduced the size of the board from four members to three members but will consider adding a new director in the near future. AMREP’s Chairman, Edward B. Cloues, II, commented, “Ted served as the chief executive officer of AMREP from 2011 through 2013 and then as a director since 2013. On behalf of our board of directors, we thank Ted for his many contributions to AMREP while serving in these capacities and wish him the very best in the future.” AMREP Corporation, through its subsidiaries, is a major holder of land and leading developer of real estate in New Mexico. Three Months Ended July 31, 2020 2019 Revenues $ 4,206,000 $ 4,767,000 Net income (loss) $ 593,000 $ (196,000) Income (loss) per share – Basic and Diluted $ 0.07 $ (0.02) Weighted average number of common shares outstanding – basic 8,151,000 8,095,000 Weighted average number of common shares outstanding – diluted 8,182,000 8,095,000 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/). By admin Uncategorized 0 Comments READ MORE... 09 Sep AMREP REPORTS FISCAL 2020 RESULTS 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 2020 RESULTS Plymouth Meeting, Pennsylvania, July 27, 2020 – AMREP Corporation (NYSE: AXR) today reported a net loss of $5,903,000, or $0.73 per share, for its 2020 fiscal year ended April 30, 2020 compared to net income of $1,527,000, or $0.19 per share, for the prior year. Results for 2020 included $8,600,000 of non-cash charges comprised of: (1) a non-cash pre-tax pension settlement charge of $2,929,000 due to the payment of lump sum payouts of pension benefits to 309 former employees and (2) net non-cash pre-tax impairment charges on other assets of $5,046,000 in connection with certain deemed consideration from the sale of the Company’s fulfillment services business. Results for 2019 reflected a net loss from continuing operations of $2,465,000 and net income from discontinued operations of $3,992,000. Discontinued operations resulted from the sale of AMREP’s fulfillment services business in April 2019. AMREP Corporation, through its subsidiaries, is a major holder of land and leading developer of real estate in New Mexico. Financial Highlights Twelve Months Ended April 30, 2020 2019 Revenues $ 18,783,000 $ 12,754,000 Net income (loss) from continuing operations $ (5,903,000) $ (2,465,000) Net income from discontinued operations - $ 3,992,000 Net income (loss) $ (5,903,000) $ 1,527,000 (Loss) per share from continuing operations – Basic and Diluted $ (0.73) $ (0.30) Income per share from discontinued operations – Basic and Diluted $ - $ 0.49 (Loss) income per share – Basic and Diluted $ (0.73) $ 0.19 Weighted average number of common shares outstanding - basic 8,134,000 8,099,000 Weighted average number of common shares outstanding - diluted 8,134,000 8,145,000 AMREP Corporation’s financial statements on Form 10-K 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/). By admin 2020 Press Releases 0 Comments READ MORE... 24 Jul AMREP REPORTS THIRD QUARTER FISCAL 2020 RESULTS FOR: AMREP Corporation 620 West Germantown Pike, Suite 175 Plymouth Meeting, Pennsylvania 19462 CONTACT: James McMonagle Vice President and Chief Financial Officer (610) 487-0904 AMREP REPORTS THIRD QUARTER FISCAL 2020 RESULTS Plymouth Meeting, Pennsylvania, March 6, 2020 – AMREP Corporation (NYSE: AXR) today reported net income of $338,000, or $0.04 per share, for its 2020 fiscal third quarter ended January 31, 2020 compared to a net loss of $32,000, or $0.00 per share, for the same period of the prior year. For the first nine months of 2020, AMREP had a net loss of $2,027,000, or $0.25 per share, compared to net income of $84,000, or $0.01 per share, for the same period of 2019. The results of the third quarter of the prior year reflected a net loss from continuing operations of $1,455,000 and net income from discontinued operations of $1,423,000. The first nine months of the prior year reflected a net loss from continuing operations of $2,696,000 and net income from discontinued operations of $2,780,000. Discontinued operations resulted from the sale of AMREP’s fulfillment services business in April 2019. 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, 2020 2019 Revenues $ 5,287,000 $ 2,381,000 Net income (loss) from continuing operations $ 338,000 $ (1,455,000) Net income from discontinued operations - $ 1,423,000 Net income (loss) $ 338,000 $ (32,000) Income (loss) per share from continuing operations – Basic and Diluted $ 0.04 $ (0.18) Income per share from discontinued operations – Basic and Diluted - $ 0.18 Income (loss) per share – Basic and Diluted $ 0.04 $ (0.00) Weighted average number of common shares outstanding - basic 8,138,000 8,103,000 Weighted average number of common shares outstanding - diluted 8,174,000 8,103,000 Nine Months Ended January 31, 2020 2019 Revenues $ 14,014,000 $ 9,239,000 Net (loss) from continuing operations $ (2,027,000) $ (2,696,000) Net income from discontinued operations - $ 2,780,000 Net (loss) income $ (2,027,000) $ 84,000 (Loss) per share from continuing operations – Basic and Diluted $ (0.25) $ (0.33) Income per share from discontinued operations – Basic and Diluted - $ 0.34 (Loss) income per share – Basic and Diluted $ (0.25) $ 0.01 Weighted average number of common shares outstanding - basic 8,129,000 8,095,000 Weighted average number of common shares outstanding - diluted 8,129,000 8,140,000 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). By admin 2020 Press Releases Comments Off READ MORE... 09 Mar AMREP REPORTS SECOND QUARTER FISCAL 2020 RESULTS FOR: AMREP Corporation 620 West Germantown Pike, Suite 175 Plymouth Meeting, Pennsylvania 19462 CONTACT: James M. McMonagle Vice President and Chief Financial Officer (610) 487-0904 AMREP REPORTS SECOND QUARTER FISCAL 2020 RESULTS Plymouth Meeting, Pennsylvania, December 10, 2019 – AMREP Corporation (NYSE: AXR) today reported a net loss of $2,169,000, or $0.27 per share, for its 2020 fiscal second quarter ended October 31, 2019 compared to net income of $55,000, or $0.00 per share, for the same period of the prior year. For the first six months of 2020, AMREP had a net loss of $2,365,000, or $0.29 per share, compared to net income of $116,000, or $0.01 per share, for the same period of 2019. During the second quarter of 2020, AMREP recognized a non-cash pre-tax settlement charge of $2,929,000 due to AMREP’s defined benefit pension plan paying certain lump sum payouts of pension benefits to former employees. The results of the second quarter of the prior year reflected a net loss from continuing operations of $580,000 and net income from discontinued operations of $635,000. The first six months of the prior year reflected a net loss from continuing operations of $1,242,000 and net income from discontinued operations of $1,358,000. Discontinued operations resulted from the sale of AMREP’s fulfillment services business in April 2019. 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 October 31, 2019 2019 2018 Revenues $3,960,000 $ 2,620,000 Net (loss) from continuing operations $(2,169,000) $ (580,000) Net income from discontinued operations – $ 635,000 Net income $(2,169,000) $ 55,000 (Loss) per share from continuing operations – Basic and Diluted $ (0.27) $ (0.08) Income per share from discontinued operations – Basic and Diluted – $ 0.08 Income per share – Basic and Diluted $ (0.27) $ 0.00 Weighted average number of common shares outstanding – basic 8,129,000 8,095,000 Weighted average number of common shares outstanding – diluted 8,129,000 8,146,000 Six Months Ended October 31, 2019 2019 2018 Revenues $8,727,000 $ 6,858,000 Net (loss) from continuing operations $(2,365,000) $ (1,242,000) Net income from discontinued operations – $ 1,358,000 Net income $ (2,365,000) $ 116,000 (Loss) per share from continuing operations – Basic and Diluted $ (0.29) $ (0.16) Income per share from discontinued operations – Basic and Diluted – $ 0.17 Income per share – Basic and Diluted $ (0.29) $ 0.01 Weighted average number of common shares outstanding – basic 8,125,000 8,090,000 Weighted average number of common shares outstanding – diluted 8,125,000 8,135,000 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). By admin 2020 Press Releases 0 Comments READ MORE... 11 Sep AMREP REPORTS FIRST QUARTER FISCAL 2020 RESULTS FOR: AMREP Corporation 620 West Germantown Pike, Suite 175 Plymouth Meeting, Pennsylvania 19462 CONTACT: James M. McMonagle Vice President and Chief Financial Officer (610) 487-0904 AMREP REPORTS FIRST QUARTER FISCAL 2020 RESULTS Plymouth Meeting, Pennsylvania, September 11, 2019 – AMREP Corporation (NYSE: AXR) today reported a net loss of $196,000, or $0.02 per share, for its 2020 fiscal first quarter ended July 31, 2019 compared to net income of $61,000, or $0.01 per share, for the same period of the prior year. The prior year’s results reflected a net loss from continuing operations of $662,000 and net income from discontinued operations of $723,000. Discontinued operations resulted from the sale of AMREP’s fulfillment services business in April 2019. 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 July 31, 2019 2018 Revenues $ 4,767,000 $ 4,238,000 Net (loss) from continuing operations $ (196,000) $ (662,000) Net income from discontinued operations - $ 723,000 Net income $ (196,000) $ 61,000 (Loss) per share from continuing operations – Basic and Diluted $ (0.02) $ (0.08) Income per share from discontinued operations – Basic and Diluted - $ 0.09 Income per share – Basic and Diluted $ (0.02) $ 0.01 Weighted average number of common shares outstanding - basic 8,095,000 8,086,000 Weighted average number of common shares outstanding - diluted 8,095,000 8,124,000 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). By admin 2020 Press Releases 0 Comments READ MORE... 26 Jul AMREP REPORTS FISCAL 2019 RESULTS FOR: AMREP Corporation 620 West Germantown Pike, Suite 175 Plymouth Meeting, Pennsylvania 19462 CONTACT: James M. McMonagle Vice President and Chief Financial Officer (610) 487-0904 AMREP REPORTS FISCAL 2019 RESULTS Plymouth Meeting, Pennsylvania, July 26, 2019 - AMREP Corporation (NYSE: AXR) today reported net income of $1,527,000, or $0.19 per share, for its 2019 fiscal year ended April 30, 2019 compared to net income of $238,000, or $0.03 per share, for the prior year. These results reflect both continuing and discontinued operations. Discontinued operations resulted from the sale of AMREP's fulfillment services business in April 2019. AMREP reported a net loss from continuing operations of $2,465,000, or $0.30 per share, for its 2019 fiscal year ended April 30, 2019 compared to a net loss from continuing operations of $2,564,000, or $0.32 per share, for the prior year. Results for 2018 included a non-cash increase in income tax expense arising from certain federal tax law changes enacted during 2018. AMREP Corporation, through its subsidiaries, is a major holder of land and leading developer of real estate in New Mexico. ##### FINANCIAL HIGHLIGHTS Twelve Months Ended April 30, 2019 2018 Revenues from continuing operations $ 12,831,000 $ 8,927,000 Net (loss) from continuing operations $ (2,465,000) $ (2,564,000) Net income from discontinued operations $ 3,992,000 $ 2,802,000 Net Income $ 1,527,000 $ 238,000 (Loss) per share from continuing operations - Basic and Diluted $ (0.30) $ (0.32) Income per share from discontinued operations - Basic and Diluted $ 0.49 $ 0.35 Income per share - Basic and Diluted $ 0.19 $ 0.03 Weighted average number of common shares outstanding - basic 8,099,000 8,073,000 Weighted average number of common shares outstanding - diluted 8,145,000 8,104,000 AMREP Corporation's financial statements on Form 10-K 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/SECfiles.asp). By admin 2019 Press Releases Comments Off READ MORE... 26 Apr AMREP SELLS ITS PALM COAST FULFILLMENT SERVICES BUSINESS FOR: AMREP Corporation 620 West Germantown Pike, Suite 175 Plymouth Meeting, Pennsylvania 19462 CONTACT: James McMonagle Vice President and Chief Financial Officer (610) 487-0904 AMREP SELLS ITS PALM COAST FULFILLMENT SERVICES BUSINESS Plymouth Meeting, Pennsylvania, April 26, 2019 - AMREP Corporation (NYSE: AXR) (the "Company") today reported that it has sold its Fulfillment Services business operated by Palm Coast Data to Studio Membership Services, LLC, a subsidiary of Irish Studio LLC. The closing of the sale occurred on April 26, 2019. The buyer paid the Company $1.0 million in cash on the closing and entered into two long-term triple net leases as tenant for the Company's owned facilities in Palm Coast, Florida, which facilities aggregate approximately 204,000 square feet. The aggregate annual base rent for the ten year leases starts at $1.9 million in the first year, subject to a one-month waiver of base rent during the first year, and escalates to $2.5 million in the tenth year. Prior to the sale, Palm Coast Data distributed to the Company $3.1 million of cash during the fourth quarter of fiscal year 2019, which ends on April 30, 2019. "With the sale of the magazine subscription fulfillment business, AMREP has completed its exit from the media services business. We are now focused squarely on our real estate business to drive shareholder value," said Edward B. Cloues, II, Chairman of the Company. "The cash we receive in connection with the transaction, including under the two leases, will help grow that business over the next several years." Additional details on the sale transaction are provided in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on April 26, 2019. About AMREP - AMREP Corporation, through its subsidiaries, is a major holder of land and leading developer of real estate in New Mexico. Forward-Looking Statements - The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of the Company. The Company and its representatives may from time to time make written or oral statements that are "forward-looking", including statements contained in this news release. All statements that express expectations, estimates, forecasts or projections are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, other written or oral statements, which constitute forward-looking statements, may be made by or on behalf of the Company. Words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", "projects", "forecasts", "may", "should", variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and contingencies that are difficult to predict. All forward-looking statements speak only as of the date of this news release or, in the case of any document incorporated by reference, the date of that document. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are qualified by the cautionary statements in this section. Many of the factors that will determine the Company's future results are beyond the ability of management to control or predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in or suggested by such forward-looking statements. The forward-looking statements contained in this news release include, but are not limited to, the use of the Company's assets in the future and the expected focus of the Company in the future. The Company undertakes no obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of such forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. ##### By admin 2019 Press Releases Comments Off READ MORE... 1 2 … 4 Next Categories 2015 Press Releases 2016 Press Releases 2017 Press Releases 2018 Press Releases 2019 Press Releases 2020 Press Releases 2021 Press Releases Uncategorized © Copyright 2020. All Rights Reserved.