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LAWYERS TITLE CORPORATION ANNOUNCES EARNINGS

 LAWYERS TITLE CORPORATION ANNOUNCES EARNINGS
 RICHMOND, Va., July 30 /PRNewswire/ -- Lawyers Title Corporation


(NASDAQ: LTCO), holding company for Lawyers Title Insurance Corporation, headquartered in Richmond, Va., reported revenues of $120.6 million for the quarter ended June 30, 1992, a 24 percent increase over revenues of $97.6 million in the same quarter of 1991. For the six months ended June 30, 1992, revenues of $225.9 million increased 26 percent over revenues of $178.8 million in the first six months of 1991.
 Net income for the June 1992 quarter was $3.6 million, or $.89 per share, compared to a loss of $5.6 million in the 1991 quarter. For the six month period, net income was $4.4 million or $1.07 per share, compared to a loss of $13.6 million in the first six months of 1991.
 The company continued to see positive effects from the home mortgage refinancing activity experienced earlier this year and from its cost management programs. The operating margin, before claims and investment income, was 12.7 percent in the June 1992 quarter compared to 3.0 percent in the same quarter of 1991 and 5.1 percent in the first quarter of 1992.
 Capital gains included in revenues totaled $2.1 million for the June 1992 quarter and $7.3 million for the six months ended June 1992. Approximately $4.5 million of these gains, realized in the first quarter, resulted from the completed restructuring of the fixed income portfolio from tax-advantaged to taxable issues.
 Lawyers Title and Subsidiaries
 Summary of Operations
 (In thousands, except per share data)
 Three Months Ended June 30
 1992 1991
 Revenues $120,623 $97,615
 Earnings (loss) before
 income taxes 3,649 (6,987)
 Net income (loss) 3,649 (5,559)
 Earnings per share $ .89 --
 Average shares outstanding 4,097 --
 Six Months Ended June 30
 1992 1991
 Revenues $225,864 $178,787
 Earnings (loss) before
 income taxes 4,390 (19,168)
 Net income (loss) 4,390 (13,622)
 Earnings per share $ 1.07 --
 Average shares outstanding 4,097 --
 -0- 7/30/92
 /CONTACT: H. Randolph Farmer, 804-281-6855, or G. William Evans, 804-281-6752, both of Lawyers Title Corporation/
 (LTCO) CO: Lawyers Title Corporation; Lawyers Title Insurance Corporation ST: Virginia IN: INS SU: ERN


CM -- CH001 -- 4971 07/30/92 09:40 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
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