Amrep Corporation (AXR) Reports Q1 Loss of $0.15/Share

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AMREP Reports First Quarter Fiscal 2016 Results

September 14, 2015 4:30 PM EDT

PRINCETON, N.J., Sept. 14, 2015 /PRNewswire/ -- AMREP Corporation (the "Company") (NYSE: AXR) today reported a net loss of $1,179,000, or $0.15 per share, for its 2016 fiscal first quarter ended July 31, 2015 compared to  net income of $6,264,000, or $0.82 per share, for the first quarter of fiscal year 2015 ended July 31, 2014. The results for the prior year consisted of (i) a net loss from continuing operations of $636,000, or $0.08 per share, which included a non-cash impairment charge of $925,000 ($583,000 after tax, or $0.08... More