The First American Financial Corporation reports increased revenue for second quarter


The First American Financial Corporation (NASDAQ:FAMR) reported today that revenue for the three months ended March 31, 1985, amounted to $53,498,000, a slight increase compared with the $52,080,000 earned in the same quarter last year. Net income for these periods was $1,174,000, or 47 cents per share, in 1985 and $2,731,000, or $1.11 per share, in 1984.

D.P. Kennedy, president, stated that the lower net income in the first quarter 1985 resulted from increased personnel costs and rising loss provisions. Kennedy further noted that the increased personnel costs were related to a surge in new orders commencing in mid-January. It is anticipated that this backlog of orders will produce a higher revenue level as these orders are closed.

First American Financial's principal subsidiary, First American Title Insurance Company, has a network of some 1,900 branches, subsidiaries, affiliates or agents throughout the United States and in Guam, Puerto Rico and the United Kingdom. The Company is the third largest title insurer in the nation.


Three months ended March 31:		1985		1984
Revenue				     $53,498,000     $52,080,000
Net income			     $ 1,174,000     $ 2,731,000
Net income per share		     $       .47     $      1.11


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