The Miami-based builder of single-family and multifamily homes attributed the gain to the $3.2 million sale of unconsolidated partnerships in Dadeland Gardens and Dadeland Towers, two projects that include 150 apartments and 580 condominium units.
"Our core business is doing better than the overall economy, and we have contracts on 284 homes this quarter, up from last year," says Sergio Pino, Century Builders' chairman. "We sold 702 homes in the first half of 2001, and that makes us the top builder in Miami-Dade."
The company reported a net gain of $2.2 million on revenue of $18.3 million for the three months ended June 30, compared with a net gain of $503,093 on revenue of $16.5 million for the same period in 2000.
Over the six-month period, the company accrued a backlog of 781 homes valued at $113.8 million. That compares with a backlog of 466 homes valued at $62.9 million for the same period in 2000.
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