Bonita Springs based WCI Communities has a reported a 59 percent increase in Q4 revenue for 2014 compared to the final quarter of 2013 as it benefited from the strong home building recovery in Florida. WCI reported fourth quarter net income totaled $12.6 million on revenues of $151 million, up from $135 million on revenues of $95 million in Q4 2013. The outlook remains strong as new orders over the last three months of 2014 rose 47 percent to 171 homes for a total of $73.2 million. That represents a 22.3 percent increase year-on-year. WCI delivered 238 homes in the fourth quarter, up 58 percent, and the average selling price rose 10.3 percent to $504,000.
“We believe the Florida housing market remains strong and well positioned for sustained growth, supported by favorable demographic and economic trends” wrote WCI President and CEO Keith Bass, in a statement.
