Bonita Springs-based WCI Communities (NYSE:WCI) reports that its new orders for the fourth quarter ended Dec. 31, 2002 increased approximately 4.5 percent to 369 units, as compared to 353 units in the same period last year.
The contract value of the new fourth quarter orders decreased 6.2 percent to $180.1 million, compared to $192.1 million in the prior year. The contract value decrease reflects a lower average unit price and a higher percentage of contracts from traditional homebuilding compared to one year ago.
WCI has been creating amenity-rich, leisure-oriented master-planned communities for more than 50 years. WCI's award-winning communities offer primary, retirement and second-home buyers traditional and tower home choices with prices from $100,000 to more than $10 million and currently feature more than 600 holes of golf and 1,000 boat slips as well as country club, tennis and recreational facilities. The company also derives income from its 24-office Prudential Florida WCI Realty division, its mortgage and title businesses, and its amenities division, which operates many of the clubhouses, golf courses, restaurants, and marinas within its 30 communities. The company currently owns and controls developable land of more than 14,000 acres.
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