AMREP reports results for the first quarter of fiscal year 2025

HAVERTOWN, Pa., Sept. 13, 2024 (GLOBE NEWSWIRE) — AMREP Corporation (NYSE:AXR) today reported net income of $4,064,000, or $0.76 per diluted share, for the first quarter of fiscal 2025 ended July 31, 2024, compared to net income of $1,346,000, or $0.25 per diluted share, for the same period last year. Revenues were $19,091,000 for the first quarter of 2025 and $10,289,000 for the first quarter of 2024.

For additional information regarding the Company's financial performance, please see AMREP Corporation's Financial Reports on Form 10-Q filed today with the Securities and Exchange Commission and will be available on AMREP's website (www.amrepcorp.com/sec-filings/). Due to many factors, including the nature and timing of certain transactions and the type and location of the land or homes sold, revenue, average sales prices and related gross margins on land or home sales can fluctuate significantly from time to time and past results are not necessarily a good indicator of what may happen in future periods.

AMREP Corporation, through its subsidiaries, is a major landowner, leading real estate developer and award-winning homebuilder in New Mexico.