What was AMB Property Corporation's net income/loss for the quarter?

AMB Property Corporation reported a net loss of $620,000 for the three months ended March 31, 2010. This is a significant improvement compared to the net loss of $123,024,000 for the same period in the prior year, which was heavily impacted by real estate impairment losses.

How did the company's revenues change compared to the previous year?

Total revenues decreased slightly to $157,952,000 for the three months ended March 31, 2010, from $163,419,000 for the same period in 2009. This decrease was primarily driven by lower private capital revenues.

What is the current occupancy rate for the company's owned and managed properties?

The occupancy percentage for AMB Property Corporation's owned and managed properties was 90.5% at the end of the first quarter of 2010. The average occupancy for the same period was 90.3%.

How is the company managing its debt and liquidity?

The company had total debt of $3.3 billion as of March 31, 2010. Its liquidity remained strong, with $1.1 billion in available liquidity, consisting of cash and cash equivalents and availability under its credit facilities. The company aims to maintain a debt-to-total assets ratio of approximately 45% or less.

PLD/PLDGP 10-Q Quarterly Report Q1 FY2010

Summary

AMB Property Corporation (AMB) reported its financial results for the first quarter ended March 31, 2010. The company experienced a net loss of $620,000, a significant improvement from the $123 million net loss in the prior year's quarter, which was heavily impacted by substantial real estate impairment charges. Revenues saw a slight decrease to $158.0 million from $163.4 million in the first quarter of 2009, primarily due to lower private capital revenues. Operating expenses also saw a reduction, largely driven by the absence of significant real estate impairment losses, which heavily impacted the prior year. The company's balance sheet remained solid with total assets of $6.9 billion. AMB's focus continues to be on its core industrial real estate operations, with a strategy to grow through leasing, acquisitions, development, and its private capital business, anticipating a rebound in industrial real estate demand driven by global trade trends.

Financial Highlights

4 data points

Beta

Net Income

-$91.13M

EPS (Diluted)

$-0.43

Financial Statements

Beta

Operating Income	$27.10M
Net Income	-$91.13M
EPS (Basic)	$-0.43
EPS (Diluted)	$-0.43

Key Highlights

1Net loss significantly reduced to $620,000 from $123 million in Q1 2009, mainly due to the absence of substantial real estate impairment charges recorded in the prior year.
2Total revenues decreased slightly to $158.0 million from $163.4 million, impacted by lower private capital revenues.
3Property operating costs remained relatively stable at $49.7 million, with same-store operating expenses decreasing by 6.1% due to lower occupancy and expenses.
4Development profits declined sharply to $4.8 million from $33.3 million, largely due to the absence of a significant development project contribution to an unconsolidated joint venture seen in the prior year.
5The company's liquidity remains strong, with $1.1 billion in available liquidity at the end of the quarter, comprising cash and cash equivalents and available credit facilities.
6AMB Property Corporation actively manages its portfolio, with an owned and managed occupancy rate of 90.5%, and is strategically positioned to benefit from anticipated improvements in global trade and industrial real estate demand.

Prologis, Inc. Quarterly Report for Q1 Ended Mar 31, 2010

Summary

Financial Highlights

Key Highlights

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