LandAmerica Financial Group Tuesday reported adjusted net income for the first quarter of $20 million, or $1.14 per share, compared with $17.7 million, or $0.99 per share, in the prior-year quarter. The company's reported net income for the quarter was $13.7 million, or $0.78 per share, in comparison with $33.2 million, or $1.85 per share in the same quarter last year. Net income for first-quarter 2006 included an asset write-off of $9.7 million, or $6.3 million after taxes, primarily related to the sale of the company's headquarters building. Total revenues for the first quarter were $932.9 million compared with $835.6 million in the year ago quarter. "I am pleased that we grew our operating revenue in first quarter 2006 over first quarter 2005," said the company's CEO, Theodore Chancle...
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