Printer Friendly

FIDELITY NATIONAL FINANCIAL INC. REPORTS RECORD FIRST QUARTER REVENUE AND EARNINGS

 FIDELITY NATIONAL FINANCIAL INC. REPORTS
 RECORD FIRST QUARTER REVENUE AND EARNINGS
 IRVINE, Calif., April 30 /PRNewswire/ --Fidelity National Financial Inc. (NYSE: FNF), a leading title insurance underwriter, today announced record revenue and earnings for the quarter ended March 31, 1992.
 Revenue for the three-month period ended March 31, 1992, increased 64 percent to $71,969,000, from $43,967,000 for the comparable 1991 quarter. Net earnings for the first quarter of 1992 rose dramatically to $2,161,000, or $.42 per share, compared to $212,000, or $.05 per share, for the quarter ended March 31, 1991. The company believes its 1991 first quarter results were affected by the uncertainty in the overall economy attributable in part to the Gulf War.
 William P. Foley, president and chief executive officer, said: "The company's first quarter operating performance was positively affected by lower interest rates and the resulting surge in mortgage refinancing. We are also seeing an increase in the level of residential resale business which has resulted in higher closing levels. This trend not only had a positive impact on first quarter record earnings but should also contribute to Fidelity's operating performance for the second quarter of 1992."
 Headquartered in Irvine, Fidelity National Financial Inc. issues title insurance and performs other title-related services in 34 states and the District of Columbia through Fidelity National Title Insurance Co., Fidelity National Title Insurance Company of California, Fidelity National Title Insurance Company of Tennessee and Fidelity National Title Insurance Company of Texas.
 FIDELITY NATIONAL FINANCIAL INC. AND SUBSIDIARIES
 Summaries of Operations
 (In thousands, except per share data)
 Three Months Ended
 March 31,
 1992 1991
 Revenue $71,969 $43,967
 Earnings before income
 taxes 3,550 366
 Net earnings 2,161 212
 Earnings per share $.42 $.05
 Weighted average shares
 outstanding 5,164 4,570
 -0- 4/30/92
 /CONTACT: Frank P. Willey, executive VP & general counsel, or Jo Etta Bandy, VP-investor relations, of Fidelity National Financial, 714-852-9770/
 (FNF) CO: Fidelity National Financial Inc. ST: California IN: INS SU: ERN


EH-JL -- LA012 -- 4777 04/30/92 09:21 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 30, 1992
Words:345
Previous Article:MOTOROLA ANNOUNCES SUPPORT OF APPLE COMPUTER'S NEWTON TECHNOLOGY AT CES '92
Next Article:INTERNATIONAL TECHNOLOGY CORPORATION AWARDED AIR FORCE CONTRACT FOR ENVIRONMENTAL PROGRAMS


Related Articles
FIDELITY NATIONAL FINANCIAL INC. ANNOUNCES $.12 QUARTERLY DIVIDEND
FIDELITY NATIONAL FINANCIAL REPORTS RECORD SECOND QUARTER AND SIX-MONTH RESULTS
FIDELITY NATIONAL FINANCIAL INC. ANNOUNCES $.10 QUARTERLY CASH DIVIDEND
FIDELITY NATIONAL FINANCIAL INC. REPORTS RECORD THIRD QUARTER AND NINE MONTH RESULTS
FIDELITY NATIONAL FINANCIAL INC. REPORTS RECORD FIRST QUARTER REVENUE AND EARNINGS
FIDELITY NATIONAL FINANCIAL INC. REPORTS RECORD SECOND QUARTER AND SIX-MONTH RESULTS; SECOND QUARTER NET EARNINGS INCREASE 72 PERCENT
FIDELITY NATIONAL FINANCIAL, INC. REPORTS RECORD REVENUE AND EARNINGS FOR THE 4TH QUARTER AND YEAR ENDED DEC. 31, 1993
FIDELITY NATIONAL FINANCIAL INC. REPORTS FIRST QUARTER REVENUE AND EARNINGS
FIDELITY NATIONAL FINANCIAL, INC. REPORTS SECOND QUARTER AND SIX MONTH RESULTS
Fidelity National Financial, Inc. Continues Record Breaking Financial Performance.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters