10-QPeriod: Q1 FY2007

AVALONBAY COMMUNITIES INC Quarterly Report for Q1 Ended Mar 31, 2007

Filed May 10, 2007For Securities:AVB

Summary

AvalonBay Communities Inc. (AVB) filed its first quarter 2007 10-Q on May 10, 2007. The report covers the period ending March 31, 2007, and provides investors with an overview of the company's financial position and operational performance. Key financial statements, including the balance sheet, income statement, and cash flow statement for the first three months of 2007 and 2006 (restated), are presented. The Management's Discussion and Analysis (MD&A) section offers detailed insights into the company's financial condition, results of operations, and liquidity. Investors should pay close attention to the company's performance trends, particularly in revenue growth, profitability, and cash flow generation. The filing also includes crucial information regarding market risks, controls and procedures, legal proceedings, risk factors, and any unregistered sales of equity securities. The "Restated" nature of the 2006 comparative figures suggests potential adjustments that investors should review in the notes to the financial statements for a complete understanding of the period-over-period changes.

Key Highlights

  • 1The filing includes unaudited Condensed Consolidated Financial Statements for the three months ended March 31, 2007, and comparative data for 2006 (restated).
  • 2Management's Discussion and Analysis (MD&A) provides in-depth commentary on the company's financial condition, results of operations, and liquidity for the period.
  • 3The report details market risk exposures and the company's strategies for managing them.
  • 4Information on legal proceedings and risk factors is presented, offering insights into potential challenges and uncertainties.
  • 5The filing covers controls and procedures, important for assessing the reliability of financial reporting.
  • 6Details on any unregistered sales of equity securities and use of proceeds are disclosed.

Frequently Asked Questions

Investors should focus on the Condensed Consolidated Statements of Operations and Other Comprehensive Income to assess revenue growth and profitability for the three months ended March 31, 2007, compared to the same period in 2006. Pay attention to any changes in net income and earnings per share.

The 'restated' nature of the 2006 financial statements indicates that previously reported figures have been revised. Investors should carefully review the Notes to Condensed Consolidated Financial Statements to understand the reasons for these restatements and their impact on the comparability of financial results between 2007 and 2006.

Risk factors are detailed in Item 1a. of Part II of the filing. This section outlines significant risks and uncertainties that could materially affect the company's business, financial condition, or future results.

The Condensed Consolidated Balance Sheets as of March 31, 2007, and December 31, 2006, provide a snapshot of the company's assets, liabilities, and equity. The Condensed Consolidated Statements of Cash Flows will detail cash generated and used by operating, investing, and financing activities, offering insights into liquidity. The MD&A section will offer further qualitative and quantitative analysis on these aspects.