WCI Revises 2001 Earnings Outlook

BONITA SPRINGS, FL-WCI Communities Inc. is revising an internal forecast that projected an increase of 10% to 15% in 2001 earnings before income taxes, depreciation and amortization.

The Bonita Springs-based developer of luxury single-family and multifamily communities cited two reasons for the revised forecast: a decrease in sales traffic following the Sept. 11 terrorist attack on America and a temporary delay in the construction start at the Belize at Marco Island, a multifamily tower project in the Southwest Florida community.

“While we indicated on our last conference call that we might exceed this 10% to 15% growth, the events of September 11th and a recent delay of the construction start of one of our towers make this extraordinary growth unlikely,” Jim Dietz, WCI senior vice president and chief financial officer, says in a prepared statement.