Avatar Holdings Inc. Announces Third Quarter 2011 Earnings Conference Call and Webcast

POINCIANA, Fla., Nov. 9, 2011 (GLOBE NEWSWIRE) -- Avatar Holdings Inc. AVTR announced today that it will hold a conference call and webcast on Tuesday, November 15, 2011 to discuss Avatar's third quarter 2011 financial results. The conference call will begin at 2:00 p.m. EST on November 15, 2011. 

Also, today Avatar filed a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission with regard to its quarterly report on Form 10-Q for the quarter ended September 30, 2011. This allows the company an additional five calendar days to file the Form 10-Q, which is otherwise due November 9, 2011. Avatar expects to file the Form 10-Q on Monday, November 14, 2011. Avatar does not expect to make additional comment regarding its results for the quarter ended September 30, 2011 before filing its Form 10-Q and would do so only by means of a filing with the Securities and Exchange Commission or publicly disseminated release.

The conference call to be held on November 15, 2011 can be accessed live over the phone by dialing (866) 393-0676 or for international callers by dialing (973) 200-3090, please dial-in 10 minutes before the start of the call.  A replay will be available on November 15, 2011 at 5:00 p.m and can be accessed by dialing (855) 859-2056 or for international callers by dialing (404) 537-3406; the conference ID is 26795157.  The replay will be available until Tuesday, November 22, 2011. 

In order to access the live webcast, please go to the Investors section of Avatar's website at http://www.avatarhomes.com and click on the webcast link that will be made available. A replay will be available shortly after the original webcast. 

Avatar Holdings Inc. is engaged in real estate operations in Florida and Arizona. Avatar's principal operations are conducted at Poinciana, Solivita and Bellalago in central Florida near Orlando; at Seasons at Tradition in Port St. Lucie, Florida; and at the recently-acquired active adult community of CantaMia in Goodyear, Arizona. Avatar's common shares trade on NASDAQ under the symbol AVTR.

This news release, the conference call and the webcast contain "forward-looking statements" within the meaning of the U.S. federal securities laws, which statements may include information regarding the plans, intentions, expectations, future financial performance, or future operating performance of Avatar. Forward-looking statements are based on the expectations, estimates, or projections of management as of the date of this news release. Although our management believes these expectations, estimates, or projections to be reasonable as of the date of this news release, the conference call and the webcast, forward-looking statements are inherently subject to significant business risks, economic and competitive uncertainties, or other contingencies which could cause our actual results or performance to differ materially from what may be expressed or implied in the forward-looking statements. Important factors that could cause our actual results or performance to differ materially from our forward-looking statements include those set forth in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2010 and in our other filings with the Securities and Exchange Commission, which filings are available on www.sec.gov. At least 80% of active adult homes are intended for occupancy by at least one person 55 years or older. Avatar disclaims any intention or obligation to update or revise any forward-looking statements to reflect subsequent events and circumstances, except to the extent required by applicable law.