NEW YORK (Thomson Financial) - WCI Communities Inc. Wednesday reported a
first-quarter net loss of $84.1 million, or $2 a share.
The mean estimate of three analysts polled by Thomson Reuters was for a loss
of $1.13 a share.
Revenue for the Bonita Springs, Fla.-based home builder fell 60% to $137.1
million while homebuilding revenue was down 57% to $92.7 million. New net orders
were down 23% to 183 in the quarter.
The company said it experienced "a dramatic drop in traffic" during the
quarter.
In the year-ago period, the company posted a net loss of $15.8 million, or
38 cents a share, on revenue of $338.2 million.
Shares of WCI fell 2 cents to $3.08 on Wednesday. The stock is down 85% over
the past 52 weeks.
Ryan Vlastelica
rv/pc
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