WCI will release its fourth quarter and 2001 earnings results and hold a conference call to review both sales and earnings during the week beginning Feb. 4.

But the numbers Starkey released Jan. 18 show his company is outperforming the industry in average price levels, a key component of inventory value.

"The location of our communities; the vast selection of recreational amenities within our communities; and the high-quality, unique home products we offer have enabled us to raise our average home price 21.1% to $328,000 in our traditional homebuilding division during 2001," Starkey says in a prepared statement.

"When you combine this with our average tower home price of $1.14 million, our overall average price reaches $528,000, which is among the highest average price in the industry for larger builders."

Bonita Springs, on the Gulf Coast, is 180 miles northwest of Downtown Miami and 20 miles north of Naples, FL.

Starkey feels WCI can continue its record 2001 performance this year because customer traffic is gradually returning to model sites following a noticeable slowdown after the Sept. 11 terrorist attacks in New York and Washington, DC. The first quarter historically is one of the strongest selling periods of the year for homebuilders.

The value of new home and tower contracts for the year ended Dec. 31, 2001 increased 27.5% to $1.18 billion versus $876.7 million for the same period in 2000. In the fourth quarter alone, contract values rose 28.1% to $192.1 million compared to $150 million last year.

In calendar 2001, combined net new orders for WCI's traditional homebuilding and tower divisions rose 2.8% to 2,118 compared to 2,061 orders for 2000.

But in the fourth quarter, new orders declined 14.9% to 353 units, compared to 415 units during the same period last year, largely due to the immediate impact of 9-11, Starkey says.

However, the contract value of the company's backlog of traditional and tower homes at Dec. 31 increased by 40.3% to $738.2 million from the $526.1 million backlog at Dec. 31, 2000.

In the company's tower division, new contracts rose 70% during the year to 523 units, compared to 307 units during 2000. Contract values for the year were up 48.2% to $595.6 million versus $402 million during 2000. The average sales price in the tower division in 2001 was $1.14 million, slightly down from $1.31 million in 2000.

Despite that decline, Starkey says the company had "the most successful year ever" in the tower division and is "well-positioned to grow significantly in 2002."