Apartment Investment & Management Co. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company’s total revenues were $255.5 million compared with $252.3 million a year ago. Operating income was $57.8 million compared with $40.1 million a year ago. Income before income taxes and discontinued operations was $0.75 million compared with loss before income taxes and discontinued operations of $22.8 million a year ago. Income from continuing operations was $0.7 million compared with loss from continuing operations of $22.6 million a year ago. Net income was $2.8 million compared with $10.6 million a year ago. Net income attributable to the company common stockholders was $5.1 million or $0.03 per basic and diluted share compared with net loss attributable to the company common stockholders of $10.6 million or $0.09 per basic and diluted share a year ago. Pro forma funds from operations per share were $0.48 compared with $0.40 a year ago. Adjusted funds from operations per share were $0.38 compared with $0.29 a year ago. Pro forma FFO increased 20% when compared to first quarter 2012 as a result of improved property operating results, increased ownership in consolidated properties, and lower preferred stock dividends due to redemptions during 2012. AFFO increased 31% when compared to first quarter 2012 as a result of Pro forma FFO growth and lower per share capital replacement spending. For the second quarter of 2013, the company expects net loss per share of $0.03 to net earnings per share of $0.01 and pro forma FFO per share in the range of $0.45 to $0.49. For the full year 2013, the company expects net income per share in the range of $0.05 to $0.21, pro forma FFO per share in the range of $1.94 to $2.10, and AFFO per share in the range of $1.45 to $1.63.

Apartment Investment & Management Co. announced that its Board of Directors declared a quarterly cash dividend of $0.24 per share of Class A Common Stock for the quarter ended March 31, 2013. The first quarter 2013 dividend is payable on May 31, 2013, to stockholders of record on May 17, 2013.

Apartment Investment & Management Co. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on May 02, 2013