WCI Communities Sees Record New Orders

BONITA SPRINGS, FL-WCI Communities Inc., a locally based builder of lifestyle communities, reported record new orders and backlog for the first quarter, ended March 31.In the first quarter, the value of new orders jumped 91.6% to $458.9 million from $239.5 million in the same quarter last year. Unit orders for this first quarter were 809, an 80.2% increase from the 449 units recorded in the first quarter of 2003. At the end of the quarter, record backlog was $1.2 billion, a 54.7% rise over the 2003 quarter.In the company’s tower homebuilding division, new contract value increased to $207.3 million in the first quarter of this year from $59.3 million in last year’s first quarter, according to company preliminary results. For the same period, net new contracts grew from 53 to 152, and revenue climbed from $120.5 million to $138.7 million.Publicly traded WCI creates tower and traditional homes ranging in price from the mid-$100,000s to more than $10 million. The company also receives income from its 30-office Prudential Florida WCI Realty division, its mortgage and title businesses, and its amenities division.