AMREP Corporation (NYSE:AXR - News) today reported a net loss of $279,000, or $0.05 per share, for its fiscal 2012 first quarter ended July 31, 2011, compared to a net loss of $498,000, or $0.08 per share, for the first quarter of the prior fiscal year. Revenues were $21,493,000 in the first quarter of this fiscal year versus $25,087,000 for the same period last year.Revenues from Media Services operations, which principally include Subscription Fulfillment Services conducted by the Company's Palm Coast Data subsidiary and Newsstand Distribution and Product Fulfillment Services conducted by its Kable Media Services subsidiary, decreased from $24,236,000 for the first quarter of 2011 to $21,377,000 for the same period in 2012. Magazine publishers are the principal customers of these operations, and they have continued to be impacted by the effects of the recent recession and also from increased competition from new media sources. [Read the full article]

China Housing & Land Development, Inc., ("China Housing" or the "Company," NASDAQ: CHLN) today announced that the Board of Directors of the Company has authorized the repurchase of up to $5 million of the shares of the Company's common stock, effective in the third quarter of 2011. The Company originally announced its intent to repurchase shares of stock on its fourth quarter 2010 earnings conference call, but has not yet taken action on any stock repurchases to date. This announcement clarifies the timing and size of the share buyback announced on the Company's 2010 fourth quarter earnings conference call.Mr. Pingji Lu, China Housing's Chairman of the Board commented, "The Board of Directors believes that the current share price does not reflect the company's true market value and has granted us approval to proceed with a share buyback program. [Read the full article]