PLYMOUTH MEETING, Pa.,
March 15, 2017 /PRNewswire/
-- AMREP Corporation (NYSE: AXR) today reported net income of
$174,000, or $0.02 per share, for its 2017 third fiscal
quarter ended January 31, 2017
compared to a net loss of $569,000,
or $0.07 per share, for its third
fiscal quarter of 2016. For the first nine months of 2017, the
Company had net income of $916,000,
or $0.11 per share, compared to a net
loss of $2,424,000, or $0.30 per share, for the same period of 2016.
Revenues were $9,777,000 and
$33,450,000 for the third quarter and
first nine months of 2017 compared to $12,198,000 and $32,994,000 for the same periods in the prior
year.
AMREP Corporation, through its subsidiaries, is primarily
engaged in two business segments: its Real Estate business
operated by AMREP Southwest Inc. and its subsidiaries is a major
holder of real estate in the Rio Rancho,
New Mexico area and its Fulfillment Services business
operated by Palm Coast Data LLC performs fulfillment and contact
center services for publications, membership organizations,
government agencies and other direct marketers.
FINANCIAL HIGHLIGHTS
|
|
Three Months Ended
January 31,
|
|
|
|
|
|
2017
|
|
2016
|
|
|
|
|
|
|
Revenues
|
|
$
9,777,000
|
|
$
12,198,000
|
|
|
|
|
|
|
Net income
(loss)
|
|
$
174,000
|
|
$
(569,000)
|
|
|
|
|
|
|
Earnings (loss) per
share – Basic and
Diluted
|
|
$
0.02
|
|
$
(0.07)
|
|
|
|
|
|
|
Weighted average
number of common shares outstanding - basic
|
|
8,053,000
|
|
8,038,000
|
|
Weighted average
number of common shares outstanding - diluted
|
|
8,080,000
|
|
8,059,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
January 31,
|
|
|
|
|
|
|
|
2017
|
|
2016
|
|
|
|
|
|
|
Revenues
|
|
$
33,450,000
|
|
$
32,994,000
|
|
|
|
|
|
|
Net income
(loss)
|
|
$
916,000
|
|
$
(2,424,000)
|
|
|
|
|
|
|
Earnings (loss) per
share – Basic and
Diluted
|
|
$
0.11
|
|
$
(0.30)
|
|
|
|
|
|
|
Weighted average
number of common shares outstanding - basic
|
|
8,048,000
|
|
8,035,000
|
|
Weighted average
number of common shares outstanding - diluted
|
|
8,074,000
|
|
8,059,000
|
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 the
Company's website (www.amrepcorp.com/SECfiles).
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/amrep-reports-third-quarter-fiscal-2017-results-300422824.html
SOURCE AMREP Corporation