<div id="readability-page-1"><article><p>HAVERTOWN, Pa., Dec.  12, 2025  (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $1,200,000, or $0.22 per diluted share, for its 2026 fiscal second quarter ended October 31, 2025 compared to net income of $4,042,000, or $0.75 per diluted share, for the same period of the prior year. For the first six months of 2026, AMREP had net income of $5,892,000, or $1.09 per diluted share, compared to net income of $8,106,000, or $1.51 per diluted share, for the same period of 2025. Revenues were $9,398,000 and $27,250,000 for the second quarter and first six months of 2026 and $11,906,000 and $30,997,000 for the second quarter and first six months of 2025.</p> <p>More information about the Company’s financial performance may be found in AMREP Corporation’s financial statements on Form 10-Q which have today been filed with the Securities and Exchange Commission and will be available on AMREP’s website (www.amrepcorp.com/sec-filings/). As a result of many factors, including the nature and timing of specific transactions and the type and location of land or homes being sold, revenues, average selling prices and related gross margins from land sales or home sales can vary significantly from period to period and prior results are not necessarily a good indication of what may occur in future periods.</p> <p>AMREP Corporation, through its subsidiaries, is a major holder of land, leading developer of real estate and award-winning homebuilder in New Mexico.</p> <table><tbody><tr><td colspan="7"><strong>FINANCIAL HIGHLIGHTS</strong></td></tr><tr><td colspan="7"> </td></tr><tr><td> </td><td> </td><td colspan="5"><u>Three Months Ended October 31,</u></td></tr><tr><td> </td><td> </td><td colspan="2"><u>2025</u></td><td> </td><td colspan="2"><u>2024</u></td></tr><tr><td>Revenues</td><td> </td><td>$</td><td>9,398,000</td><td> </td><td>$</td><td>11,906,000</td></tr><tr><td colspan="7"> </td></tr><tr><td>Net income</td><td> </td><td>$</td><td>1,200,000</td><td> </td><td>$</td><td>4,042,000</td></tr><tr><td>Earnings per share – basic</td><td> </td><td>$</td><td>0.22</td><td> </td><td>$</td><td>0.76</td></tr><tr><td>Earnings per share – diluted</td><td> </td><td>$</td><td>0.22</td><td> </td><td>$</td><td>0.75</td></tr><tr><td colspan="7"> </td></tr><tr><td>Weighted average number of common shares outstanding – basic</td><td> </td><td> </td><td>5,338,000</td><td> </td><td> </td><td>5,320,000</td></tr><tr><td>Weighted average number of common shares outstanding – diluted</td><td> </td><td> </td><td>5,392,000</td><td> </td><td> </td><td>5,374,000</td></tr><tr><td colspan="7"> </td></tr><tr><td> </td><td> </td><td colspan="5"> </td></tr><tr><td> </td><td> </td><td colspan="5"><u>Six Months Ended October 31,</u></td></tr><tr><td> </td><td> </td><td colspan="2"><u>2025</u></td><td> </td><td colspan="2"><u>2024</u></td></tr><tr><td>Revenues</td><td> </td><td>$</td><td>27,250,000</td><td> </td><td>$</td><td>30,997,000</td></tr><tr><td colspan="7"> </td></tr><tr><td>Net income</td><td> </td><td>$</td><td>5,892,000</td><td> </td><td>$</td><td>8,106,000</td></tr><tr><td>Earnings per share – basic</td><td> </td><td>$</td><td>1.11</td><td> </td><td>$</td><td>1.53</td></tr><tr><td>Earnings per share – diluted</td><td> </td><td>$</td><td>1.09</td><td> </td><td>$</td><td>1.51</td></tr><tr><td colspan="7"> </td></tr><tr><td>Weighted average number of common shares outstanding – basic</td><td> </td><td> </td><td>5,332,000</td><td> </td><td> </td><td>5,314,000</td></tr><tr><td>Weighted average number of common shares outstanding – diluted</td><td> </td><td> </td><td>5,385,000</td><td> </td><td> </td><td>5,367,000</td></tr><tr><td colspan="7"> </td></tr></tbody></table>  <table><tbody><tr><td>CONTACT:</td><td>Adrienne M. Uleau</td></tr><tr><td> </td><td>Chief Financial Officer and Vice President</td></tr><tr><td> </td><td>(610) 487-0907</td></tr></tbody></table><img src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RZd01UWXpNQ00zTXpFNU56UXhJelV3TURBeU5UWTRNdz09?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RZd01UWXpNQ00zTXpFNU56UXhJelV3TURBeU5UWTRNdz09"/> <br/><img src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/NWNlZTQwMDAtZjQ5NC00ZWE3LWIzYjUtOTc2NGFlNDk4ZTM3LTUwMDAyNTY4My0yMDI1LTEyLTEyLWVu/tiny/AMREP-Corporation.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/NWNlZTQwMDAtZjQ5NC00ZWE3LWIzYjUtOTc2NGFlNDk4ZTM3LTUwMDAyNTY4My0yMDI1LTEyLTEyLWVu/tiny/AMREP-Corporation.png"/></article></div>

<p>AMREP Corporation reported a net income of $1.2 million for Q2 fiscal 2026, down from $4.042 million in the same period last year. Earnings per diluted share were $0.22, compared to $0.75 last year. Revenues for Q2 were $9.398 million, a decrease from $11.906 million in the previous year. For the first six months of fiscal 2026, net income was $5.892 million, with revenues totaling $27.25 million. The company highlighted variability in revenues and margins due to transaction timing and land/home sales.</p>

AMREP Reports Second Quarter Fiscal 2026 Results | AXR Stock News