Homebuilder's revenues surge

BONITA SPRINGS — WCI Communities, the homebuilder that emerged from bankruptcy reorganization in 2009, says revenues rose 58% in the third quarter compared with the same quarter in 2012 on strong sales of new homes.

“These strong results underscore the strength of the Florida housing market, our differentiated product offerings and our targeted customer base,” says WCI President and CEO Keith Bass in a statement.

The company posted a net loss of $17 million in the third quarter on revenues of $85.5 million. That compares with net income of $56 million on revenues of $54.2 million in the third quarter of 2012. The company attributed part of the net loss in the third quarter on a preferred-dividend payout and a charge for early repayment of debt.