PRINCETON, N.J., March 15, 2016 /PRNewswire/ -- AMREP
Corporation (NYSE: AXR) today reported a net loss of $569,000, or $0.07
per share, for its 2016 fiscal third quarter ended January 31, 2016 compared to a net loss of
$309,000, or $0.04 per share, for the third quarter of fiscal
year 2015 ended January 31, 2015. For
the first nine months of 2016, the Company had a net loss of
$2,424,000, or $0.30 per share, compared to net income of
$6,209,000, or $0.79 per share, for the same period of
2015. The Company's results for both periods in fiscal 2016
were entirely from continuing operations. The results for the
three months ended January 31, 2015
consisted of (i) a net loss from continuing operations of
$304,000, or $0.04 per share, and (ii) a net loss from
discontinued operations of $5,000, or
$0.00 per share. The results for the
nine months ended January 31, 2015
consisted of (i) a net loss from continuing operations of
$1,037,000, or $0.13 per share, and (ii) net income from
discontinued operations of $7,246,000, or $0.92 per share, which included a pre-tax gain of
$11,155,000 ($7,028,000 after tax, or $0.89 per share) from a settlement agreement with
a major customer of the Company's former Newsstand Distribution
Services business. Revenues from continuing operations were
$12,198,000 and $32,994,000 for the third quarter and first nine
months of 2016 compared to $13,220,000 and $39,898,000 for the same periods of the prior
year.
AMREP Corporation, through its subsidiaries, is primarily
engaged in two business segments: its Fulfillment Services
business operated by Palm Coast Data LLC and its subsidiary provide
subscription fulfillment and related services to publishers and
others, and 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.
|
AMREP CORPORATION
AND SUBSIDIARIES
FINANCIAL
HIGHLIGHTS
(unaudited)
|
|
|
|
Three Months Ended
January 31,
|
|
|
2016
|
|
2015
|
|
|
|
|
|
|
Revenues
|
|
$ 12,198,000
|
|
$ 13,220,000
|
|
|
|
|
|
|
Net income
(loss):
|
|
|
|
|
|
Continuing Operations
|
|
$ (569,000)
|
|
$ (304,000)
|
|
Discontinued Operations
|
|
$
-
|
|
$
(5,000)
|
|
|
$ (569,000)
|
|
$ (309,000)
|
|
|
|
|
|
|
Earnings (loss) per
share – Basic and
Diluted:
|
|
|
|
|
|
Continuing Operations
|
|
$ (
0.07)
|
|
$
(0.04)
|
|
Discontinued Operations
|
|
$
-
|
|
$
-
|
|
|
$
(0.07)
|
|
$
(0.04)
|
|
|
|
|
|
|
Weighted average
number of common shares outstanding
|
|
8,038,000
|
|
8,026,000
|
|
|
|
|
|
|
|
|
Nine Months Ended
January 31,
|
|
|
2016
|
|
2015
|
|
|
|
|
|
|
Revenues
|
|
$ 32,994,000
|
|
$ 39,898,000
|
|
|
|
|
|
|
Net income
(loss):
|
|
|
|
|
|
Continuing Operations
|
|
$ (2,424,000)
|
|
$ (1,037,000)
|
|
Discontinued Operations
|
|
$
-
|
|
$ 7,246,000
|
|
|
$ (2,424,000)
|
|
$ 6,209,000
|
|
|
|
|
|
|
Earnings (loss) per
share – Basic and
Diluted:
|
|
|
|
|
|
Continuing Operations
|
|
$ (
0.30)
|
|
$
(0.13)
|
|
Discontinued Operations
|
|
$
-
|
|
$
0.92
|
|
|
$
(0.30)
|
|
$
0.79
|
|
|
|
|
|
|
Weighted average
number of common shares outstanding
|
|
8,035,000
|
|
7,884,000
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/amrep-reports-third-quarter-fiscal-2016-results-300236537.html
SOURCE AMREP Corporation