WASHINGTON (dpa-AFX) - Apartment Investment & Management Co. (AIV) reported that its fourth-quarter net income attributable to common stockholders was $67.93 million or $0.47 per share, compared to a loss of $23.41 million or $0.19 per share in the same quarter last year.
Funds from Operations or FFO for the quarter rose to $0.52 from $0.43 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.50 per share for the quarter. Analysts' estimates typically exclude special items.
Pro forma Funds from Operations for the quarter was $0.52 per share, compared to $0.42 per share last year.
Adjusted Funds From Operations or AFFO for the quarter rose to $0.38 per share from $0.20 per share last year.
Total revenues for the quarter rose to $265.99 million from $248.45 million in the prior year quarter. Seven analysts had consensus revenue estimate of $256.07 million for the quarter.
For the first-quarter the company expects net loss to be in the range of $0.04 - $0.08 per share, and Pro forma FFO per share of $0.42 - $0.46. Analysts expect the company to report earnings of $0.49 per share for the first-quarter.
Looking ahead for fiscal 2013, the company anticipates results to be in the range of loss $0.10 per share - profit $0.06 per share, Pro forma FFO per share of $1.92 - $2.08, and AFFO per share of $1.44 - $1.62. Analysts expect the company to report earnings of $2.05 per share for fiscal 2013.
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