WCI profits up
In the midst of significant construction industry insider trading and earnings misses, local developer WCI Communities checked in this week with strong performance for Q3 04 with profits up 38% over the previous year.
The company's backlog, which is the estimated value of contracts not yet closed, is valued at $2.51 billion, up 34.2 percent from the same time last year.
The average home price increased 28.6 percent to $882,000, but the number of new unit orders was down in the third quarter by 24.8 percent.
Developer WCI states profit rose 38 percent [Naples Daily News]
3Q 2005 Earnings Presentation [WCI Communities]