WCI profits up

Bonita Springs-based builder profits up 38%

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]

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