AMREP Reports Second Quarter EPS of $.12

AMREP Corporation AXR today reported net income of $731,000, or $0.12 per share, for its fiscal 2011 second quarter ended October 31, 2010 compared to a net loss of $985,000, or $0.16 per share, for its fiscal 2010 second quarter ended October 31, 2009. For the first six months of fiscal 2011, the Company had net income of $233,000, or $0.04 per share, compared to a net loss of $2,041,000, or $0.34 per share, for the same period of fiscal 2010. Revenues were $25,816,000 and $50,903,000 for the second quarter and first six months of 2011 versus $32,333,000 and $64,790,000 for the same periods last year.