GlobeNewswire Inc | Jul 27, 2021 05:34PM EDT

July 27, 2021

PLYMOUTH MEETING, Pa., July 27, 2021 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE: AXR) today reported net income of $7,392,000, or $0.95 per diluted share, for its 2021 fiscal year ended April 30, 2021 compared to a net loss of $5,903,000, or $0.73 per share, for the prior year. Revenues were $40,069,000 for fiscal 2021 and $18,783,000 for fiscal 2020.

More information about the Companys financial performance in 2021 and 2020 may be found in AMREP Corporations financial statements on Form 10-K which have today been filed with the Securities and Exchange Commission and will be available on AMREPs website (www.amrepcorp.com/sec-filings/).

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

FINANCIAL HIGHLIGHTS

Twelve Months Ended April 30, 2021 2020 Revenues $ 40,069,000 $ 18,783,000 Net income (loss) $ 7,392,000 $ (5,903,000 ) Income (loss) per share ? Basic $ $ (0.73 ) 0.95Income (loss) per share ? Diluted $ $ (0.73 ) 0.95 Weighted average number of common shares 7,743,000 8,134,000 outstanding - basicWeighted average number of common shares 7,773,000 8,134,000 outstanding - diluted

CONTACT: Adrienne M. Uleau Vice President, Finance and Accounting (610) 487-0907