WCI Communities, based in Bonita Springs, reports that sales rose nearly 10 percent in the fourth quarter of 2015, but that lower sales profits pushed profits down compared with the same quarter in 2014 . The company reported net income fell to $9.6 million on revenues of $165 million for the period (from $12.5 million on revenues of $121.5 million). WCI delivered 299 homes in the fourth quarter (up 25.6 percent) but the average selling price per home fell 10 percent to $451,000. The firm also reported its backlog contract value as of Dec. 31 was $271.2 million, a 32.1 percent increase over last year’s fourth quarter.
“The Florida markets in which we operate continue to demonstrate strong demographic and economic drivers that should fuel future growth,” says Keith Bass, WCI’s president and CEO, in a statement. “We believe that we are well-positioned to execute our growth strategy into 2016 given our product offerings and targeted customer segments.”
