AMREP reports steep decline in quarterly property revenue and profit
AMREP’s ($AXR) first-quarter fiscal 2027 revenue fell to $6.1 million from $17.9 million a year earlier. Net income dropped to $276,000 from $4.7 million, with earnings per share declining to $0.05 from $0.87. The figures show a sharp year-on-year reduction in the quarter’s recognized property activity and earnings. The company emphasized that results depend heavily on the number, type, location and timing of land and home transactions. That makes a single quarter an imperfect guide to the pace
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