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  
CONTACT: Adrienne M. Uleau
  Vice President, Finance and Accounting
  (610) 487-0907
AMREP (NYSE:AXR)
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