The First American Financial Corporation reports record levels of revenue ...
March 25, 1985, SANTA ANA, CALIFORNIA
D.P. Kennedy, president, said that revenue for the year ended December 31, 1984, totaled $232,179,000, as compared with $200,454,000 in 1983, an increase of 16 percent.
Net income for 1984 totaled $13,371,000, down slightly from $13,657,000 for 1983, and showed a return on equity of 19 percent. Earnings on a per share basis declined to $5.36 per share in 1984 from $6.53 per share in 1983. The reduced income per share can be attributed to the larger average number of shares outstanding in 1984 as opposed to 1983, Kennedy said.
Revenue for the fourth quarter 1984 was $55,533,000, down two percent from the same period 1983. Net income for the 1984 period was $1,613,000, or 64 cents per share, as compared with $3,682,000, or $1.67 per share, for the same quarter last year.
First American Financial's principal subsidiary, First American Title Insurance Company, has a network of some 1900 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 December 31: 1984 1983 Revenue $ 55,533,000 $56,550,000 Net income $ 1,613,000 $ 3,682,000 Net income per share $ .64 $ 1.67 Twelve months ended December 31: Revenue $232,179,000 $200,454,000 Net income $ 13,371,000 $ 13,657,000 Net income per share $ 5.36 $ 6.53