secwatch.observer — SEC 8-K summary
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Issuer:     AMREP CORP. (AXR)
CIK:        0000006207
Form:       8-K
Filed at:   2023-03-13T23:59:59+00:00
Accession:  0001104659-23-031802
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AMREP reports Q3 net income $16.6M ($3.12/diluted) vs $0.9M YoY on $16.1M tax benefit
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- Q3 net income $16.6M, diluted EPS $3.12; prior year $0.9M, $0.12.
- Revenue $9.12M vs $9.39M YoY (roughly flat).
- Non-cash income tax benefit of $16.1M from worthless stock deduction boosted net income.
- Recognized $2.34M non-cash pension settlement expense from lump-sum payouts.
- Weighted average diluted shares fell to 5.31M from 7.39M (share buybacks).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/6207/000110465923031802/0001104659-23-031802-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/6207/000110465923031802/tm239154d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-031802

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer