Apartment Investment & Management's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Apartment Investment & Management (AIV)

Q1 2012 Earnings Call

May 04, 2012 1:00 pm ET

Executives

Lisa R. Cohn - Executive Vice President, General Counsel and Secretary

Terry Considine - Chairman and Chief Executive Officer

Keith M. Kimmel - Executive Vice President of Property Operations

Ernest M. Freedman - Chief Financial Officer and Executive Vice President

John E. Bezzant - Executive Vice President of Transactions

Daniel S. Matula - Executive Vice President of Redevelopment and Construction Services

Analysts

Eric Wolfe - Citigroup Inc, Research Division

Karin A. Ford - KeyBanc Capital Markets Inc., Research Division

Jana Galan - BofA Merrill Lynch, Research Division

David Harris - Imperial Capital, LLC, Research Division

Paul Morgan - Morgan Stanley, Research Division

Richard C. Anderson - BMO Capital Markets U.S.

Robert Stevenson - Macquarie Research

Michael J. Salinsky - RBC Capital Markets, LLC, Research Division

David Bragg - Zelman & Associates, Research Division

Taylor Schimkat - Keefe, Bruyette, & Woods, Inc., Research Division

Buck Horne - Raymond James & Associates, Inc., Research Division

Presentation

Operator

Good afternoon, and welcome to the Apartment Investment and Management Company First Quarter 2012 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Lisa Cohen, Executive Vice President and General Counsel. Please go ahead.

Lisa R. Cohn

Thank you. Good day. During this conference call, the forward-looking statements we make are based on management's judgment, including projections related to 2012 results. These statements are subject to certain risks and uncertainties, a description of which can be found in our SEC filings. Actual results may differ materially from what we may -- from what we discussed today. Also, we will discuss certain non-GAAP financial measures such as funds from operations. These are defined and are reconciled to the most comparable GAAP measures in the supplemental information that is part of the full earnings release published on Aimco's website.