Homebuilder WCI posts another loss
Posted on Thu, May. 08, 2008
Florida home builder WCI Communities ( WCI) reported its sixth consecutive loss as orders plunged. First-quarter net loss widened to $84.1 million, or $2 a share, from $15.8 million, or 38 cents, a year earlier. Sales slid 59 percent to $137.1 million.
The Bonita Springs-based developer's chief executive, Jerry Starkey, told analysts ''there are no signs that demand has firmed.'' Net new orders fell 23 percent to 183 and completed home sales declined 45 percent to 309, WCI said.
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