WCI Announces Common Stock Repurchase Approval
08 Septiembre 2006 - 2:11PM
Business Wire
WCI Communities, Inc. (NYSE:WCI), 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. About WCI WCI Communities,
Inc., named America's Best Builder in 2004 by the National
Association of Home Builders and Builder Magazine, has been
creating amenity-rich, master-planned lifestyle communities since
1946. Florida-based WCI caters to primary, retirement, and
second-home buyers in Florida, New York, New Jersey, Connecticut,
Maryland and Virginia. The company offers traditional and tower
home choices with prices from the low-$200,000s to more than $10
million and features a wide array of recreational amenities in its
communities. In addition to homebuilding, WCI generates revenues
from its Prudential Florida WCI Realty Division, its mortgage and
title businesses, and its recreational amenities, as well as
through land sales and joint ventures. The company currently owns
and controls developable land on which the company plans to build
over 21,500 traditional and tower homes. For more information about
WCI and its residential communities visit
http://www.wcicommunities.com. Click here to join our email list:
http://www.b2i.us/irpass.asp?BzID=631&to=ea&s=0 Certain
information included herein and in other company reports,
Securities and Exchange Commission filings, statements and
presentations is forward-looking within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements about the company's anticipated operating
results, financial resources, ability to acquire land, ability to
sell homes and properties, ability to deliver homes from backlog,
and ability to secure materials and subcontractors. Such
forward-looking information involves important risks and
uncertainties that could significantly affect actual results and
cause them to differ materially from expectations expressed herein
and in other company reports, filings, statements and
presentations. These risks and uncertainties include WCI's ability
to compete in real estate markets where we conduct business; the
availability and cost of land in desirable areas in its geographic
markets and elsewhere and our ability to expand successfully into
those areas; WCI's ability to obtain necessary permits and
approvals for the development of its lands; the availability of
capital to WCI and our ability to effect growth strategies
successfully; WCI's ability to pay principal and interest on its
current and future debts; WCI's ability to maintain or increase
historical revenues and profit margins; availability of labor and
materials and material increases in labor and material costs;
increases in interest rates and availability of mortgage financing;
increases in construction and homeowner insurance and limitations
on the availability of insurance, the level of consumer confidence;
adverse legislation or regulations; unanticipated litigation or
adverse legal proceedings; natural disasters; and changes in
general economic, real estate and business conditions. If one or
more of the assumptions underlying our forward-looking statements
proves incorrect, then the company's actual results, performance or
achievements could differ materially from those expressed in, or
implied by the forward-looking statements contained in this report.
Therefore, we caution you not to place undue reliance on our
forward-looking statements. We undertake no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. This statement is provided
as permitted by the Private Securities Litigation Reform Act of
1995.
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