Wednesday, October 04, 2006

what a surprise / wci warns again

das ist ein upgrade von mitte august.

WCI Communities was upgraded by JMP Securities

ich rate jedem dieses upgrade in der begründung zu lesen.
i urge everybody to read this upgrade in detail.
expected to be significantly below its prior guidance of approximately $0.52, although the Company still expects to report positive net income.

Greater than expected Traditional Homebuilding and Tower Homebuilding defaults will also negatively affect the company's earnings for the third quarter. Approximately 80 traditional homes valued around $48.0 million had been scheduled for delivery during the quarter but failed to close
(in the call from august they denied any porblems with defaults. they said everything would be normal. lest euch bitte das skript vom call durch und ihr wißt was diese management wert ist.

In addition, in light of increased tower defaults primarily related to a single tower located in Northwest Florida, the Company has increased its tower default reserve to anticipate that the actual year-to-date default rate of approximately 4% will continue through completion and delivery of existing towers

Additionally, the Company expects that combined tower and traditional new orders for the third quarter are expected to fall approximately 80% below the total reported in the third quarter of 2005

The decline in the value and number of traditional home new orders of approximately 60% to 65% reflects additional deterioration in sales levels during the historically slower summer sales season, as compared to the 40.5% to 43.5% year-over-year new order shortfall experienced in the second quarter

this is from early september to pump the stock./das ist von anfang september!

2006--WCI Communities, Inc. a leading builder of traditional and tower residences in highly amenitized lifestyle communities, today announced the increase of its current share repurchase authorization by three million shares to a total of five million shares. The repurchases are to be made within predetermined parameters as set by the company's Board of Directors. At its meeting on September 7, 2006, the company's Board of Directors approved the repurchase of an additional three million shares. Two million shares were remaining under the previous authorization, which was announced on October 31, 2005.
disclosure: short wci / prognose q1 2007 pleite


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