Amrep reports second quarter fiscal 2021 results

Plymouth meeting, pa., dec. 08, 2020 (globe newswire) -- amrep corporation (nyse: axr) today reported net income of $798,000, or $0.10 per share, for its 2021 fiscal second quarter ended october 31, 2020 compared to a net loss of $2,169,000, or $0.27 per share, for the same period of the prior year. for the first six months of 2021, amrep had net income of $1,391,000, or $0.17 per share, compared to a net loss of $2,365,000, or $0.29 per share, for the same period of 2020. during the second quarter of 2020, amrep recognized a non-cash pre-tax settlement charge of $2,929,000 due to amrep's defined benefit pension plan paying certain lump sum payouts of pension benefits to former employees.
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