Resort sales for the quarter rose 38% to $62.9 million, while resort sales grew 43% to $253.9 million for the year. Net income in the fourth quarter climbed 18% to $7.3 million, or 26 cents per diluted share, and net income for the year increased 138% to $25.8 million, or 94 cents per diluted share.
"We believe that 2003 was the most successful year in Bluegreen's history," George F. Donovan, president and CEO of Bluegreen, says in a statement. "Higher sales, improved operating efficiencies, an expanded portfolio of properties and a deep respect for the customer produced record profits for the 2003 fourth quarter and year. We continue to focus on pursuing growth opportunities in each of our businesses and providing high-quality leisure and lifestyle experiences."
Bluegreen acquires, develops, markets and sells vacation ownership resorts and residential home sites. Bluegreen Resorts are situated in many popular vacation destinations.
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