American Campus Communities, Inc. (NYSE:ACC) Q2 2015 Earnings Conference Call - Final Transcript

Jan 14, 2015 • 01:00 pm ET

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American Campus Communities, Inc. (NYSE:ACC) Q2 2015 Earnings Conference Call - Final Transcript

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Presentation
Operator
operator

Good day and welcome to the Amica Mature Lifestyles Fiscal 2015 Q2 Results Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. (inaudible). Please go ahead, sir.

Executive
Unidentified Speaker

Thank you for joining Amica's Second Quarter Results Conference Call for fiscal 2015. The related news release, MD&A and financial statements are available on the Investor Relations section of our website at amica.ca on CDAR. We'd like to remind listeners that a slide presentation accompanying this conference call and webcast is available on our website at amica.ca

Executive
Unidentified Speaker

click on Investor Relation then on presentation in the web cast. For those who did not already -- have not already done so please feel free to log on and to access the slide presentation which will accompany the comment you will be hearing from Samir or/and Dave. After the presentation today, you may access the archive webcast details of which are also available on our website.

Featured on today's call are Samir Manji, Chairman and CEO, who will provide an overview of the company's progress during the quarter and Ayres, Chief Financial Officer, who will focus on the financial results for the three and six months ended November 30, 2014; David Minnett, the company's President will speak to our plan going forward; Colin Halliwell, our Chief Operating Officer is also on the call, and all four will be available to answer the question. The question and answer period will be conducted once the presentation is complete.

(Forward Looking Cautionary Statement).

I will now move the call over to Samir.

Executive
Samir A. Manji

Thank you, Troy(ph). Good morning everyone in the West and good afternoon to those of you in the East. We are pleased to share with you today our second quarter financial and operational results. The second quarter builds on the progress made in the first quarter with improved operational and financial results. The second quarter delivered a 5% increase in revenues and improved margins compared to the three months ended November 30, 2013. On the next several slides, I'll break down the consolidated retirement communities margin between mature and lease up communities for the three and six months ended November 30, 2014.

Mature communities now include Amica at Bayview Garden and Amica at Windsor, which became mature community during the first quarter. The comparative figures have been adjusted to include the new mature communities. Mature communities margin for the three months as a percentage of retirement communities revenues increased by 1.1% to 36.5% resulting in a $621,000 increase in margin. This increase is from improved margins on a same community basis.

For the six months, the mature communities margin increased by 1% to 35.6% resulting in a $1.2 million increase in margin. This increase is from improved margins on a same community basis. Lisa community is now consists of Amica at Aspen Woods and Amica at Quinte Gardens

Executive
Unidentified Speaker

Lease-up Communities margin for the three months increased by 16.2% to 28.6% resulting in a $656,000 increase in margin.