secwatch.observer — SEC 8-K summary
======================================

Issuer:     AMREP CORP. (AXR)
CIK:        0000006207
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0001104659-23-083890
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AMREP fiscal 2023 net income $21.8M ($4.11 diluted EPS) vs $15.9M ($2.21) prior year; revenue down 17%
--------------------------------------------------------------------------------

- Revenue $48.7M vs $58.9M in FY2022; decline driven by absence of prior-year large land and building sales.
- Net income includes $14.1M non-cash tax benefit from worthless stock deduction and $7.6M pension settlement expense.
- Diluted EPS $4.11, up 86% from $2.21, aided by one-time tax benefit and lower share count (5.3M vs 7.2M).
- Basic weighted-average shares outstanding fell to 5.28M from 7.17M due to share repurchases or other capital actions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/6207/000110465923083890/0001104659-23-083890-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/6207/000110465923083890/tm2321898d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-083890

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