Fidelity National Financial Posts Big 4th-Quarter Gains
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Fidelity National Financial Inc., an Irvine provider of title insurance and real estate-related services, posted hefty fourth-quarter gains in earnings and revenue from its acquisition of Chicago Title last year.
Net earnings totaled $37.5 million, or 53 cents a share, for the three months, up from $8.7 million, or 30 cents a share, for the fourth quarter of 1999. Revenue climbed to $816.6 million from $308.3 million.
For the year, net income totaled $108.3 million, or $1.78 a share, up 53% from the $70.9 million, or $2.27 a share, in 1999. Revenue advanced to $2.7 billion from $1.4 billion.
Fidelity acquired Chicago Title on March 20.
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