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FIRST AMERICAN FINANCIAL CORP. REPORTS PRELIMINARY RESULTS FOR FISCAL 1992

 SANTA ANA, Calif., Feb. 2 /PRNewswire/ -- The First American Financial Corp. (NASDAQ: FAMR) today reported preliminary results for fiscal year 1992. Revenues exceeded $1 billion for the first time in the company's 104-year history, and earnings were also at record levels.
 For the year ended Dec. 31, 1992, the company earned $43.3 million, or $4.55 per share, compared with $3.0 million, or $0.31 per share, for the same period 1991. Revenues were $1.1 billion during the year compared with $756.8 million for 1991. For the fourth quarter, net income totaled $12.3 million, or $1.10 per share, compared with $2.4 million, or $0.24 per share, for the fourth quarter 1991, while revenues increased from $220.2 million in 1991 to $326.4 million in 1992.
 "By any measure, 1992 was the most rewarding and profitable year in the company's history," President D.P. Kennedy said. "It is especially significant year.
 "Our financial position was improved materially during 1992 not only by these record earnings, but also by a restructuring of our bank debt and the sale of over 2 million new shares of stock through a public offering," Kennedy said. "This was also the year in which we combined our A and B common stocks into a single class of shares."
 The First American Financial Corp. is a leading provider of real estate-related financial services, including title insurance, tax monitoring and home warranty services, to real property buyers and mortgage lenders. The company also operates a trust and banking business in Southern California. The company offers its title services through a network of more than 300 offices and 4,000 agents in all 50 states. It also provides title services abroad in the Bahamas, Bermuda, Canada, Guam, Mexico, Puerto Rico, the Virgin Islands and the United Kingdom.
 FIRST AMERICAN FINANCIAL CORP.
 Synopsis
 (In 000s, except for per share amounts)
 1992 1991
 Quarter ended Dec. 31:
 Revenues $326,449 $220,249
 Net income $12,286 $2,351
 Net income per share $1.10 $0.24(A)
 Year ended Dec. 31:
 Revenues $1,115,467 $756,821
 Net income $43,258 $3,005
 Net income per share $4.55 $0.31(A)
 Average shares outstanding 9,502 9,646(A)
 (A) Adjusted to give effect to the issuance of 168,000 shares in connection with the combination plan effective Sept. 24, 1992.
 -0- 2/2/93
 /CONTACT: D.P. Kennedy, president, or Parker S. Kennedy, executive VP, of First American Financial, 714-558-3211
 (FAMR)


CO: First American Financial Corp. ST: California IN: FIN SU: ERN

LS-JB -- LA006 -- 1657 02/02/93 08:07 EST
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Publication:PR Newswire
Date:Feb 2, 1993
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