Business Context and Reporting Period
Company: Cousins Properties Incorporated
Filing Type: Form 8-K (Current Report)
Date of Report: February 21, 2007
Reporting Period: Three months and year ended December 31, 2006
This filing serves as a correction to a previous earnings announcement issued on February 5, 2007. The Company is reporting an adjustment to its previously disclosed financial results.
Key Financial Metrics
The filing does not provide absolute values for revenue, profit, cash flow, margins, debt, or liquidity. It specifically addresses an adjustment to the following metrics:
- Net Income Available to Common Stockholders: Increased by $821,000.
- Funds From Operations (FFO) Available to Common Stockholders: Increased by $821,000.
Note: The filing text does not provide the revised total figures for these metrics, only the amount of the increase from the prior report.
Material Changes Versus Prior Comparable Period
The material change reported is an upward revision of $821,000 to both Net Income and Funds From Operations for the three months and the full year ended December 31, 2006, compared to the figures released on February 5, 2007. No other material changes to financial condition or operations are detailed in this specific text.
Guidance, Outlook, and Risks
Management Commentary: The Company issued a press release (attached as Exhibit 99.1) to disclose the adjustment. The filing explicitly states that the information contained herein, including the press release, shall not be deemed "filed" with the Commission nor incorporated by reference in any registration statement under the Securities Act of 1933.
Risks and Contingencies: The filing text does not disclose new risks, contingencies, or unusual items beyond the accounting adjustment itself.
Important Facts for Investor Verification
- Verify the revised absolute figures for Net Income and FFO for Q4 and Full Year 2006 in the attached press release (Exhibit 99.1), as this 8-K only states the adjustment amount.
- Confirm the specific accounting error or event that necessitated the $821,000 upward adjustment.
- Note that this filing is a correction to a prior public statement and does not contain a full set of financial statements.