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WCI Communities net loss widens to $576.84 million in quarter ended Sept. 30
By Caroline Salls
Pittsburgh, Jan. 28 - WCI Communities Inc. reported a $576.84 million net loss for the quarter ended Sept. 30 on $99.49 million in total revenues, according to a 10-Q filed Wednesday with the Securities and Exchange Commission.
The figures compared to the $69.72 million net loss posted for the quarter ended Sept. 30, 2007 on $165.43 million in total revenues.
The company recorded a $761.16 million net loss for the first nine months of 2008 on $466.62 million in revenues, compared with a $118.75 million net loss for the first nine months of 2007 on $744.79 million in total revenues.
WCI had $107.25 million of cash and cash equivalents as of Sept. 30, down from $188.82 million as of Dec. 31, 2007.
WCI Communities, a Bonita Springs, Fla.-based home building and real estate services company, filed for bankruptcy on Aug. 4 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 08-11643.
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