AXR: Net income and revenues declined significantly as the company pivots to homebuilding amid market headwinds
Net income dropped sharply to $276,000 as revenues fell 66% year-over-year, mainly due to a steep decline in land and home sale revenues. The company is shifting focus to homebuilding amid market headwinds and delays, with 83 homes in production and increased leasing activity.Original document: AMR…
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