Fidelity earnings increase

Fidelity National Financial today reported net earnings of $150.2 million for the first quarter of 2004, compared with $143.6 million a year ago.

Diluted earnings per share were $0.88 for the first quarter of 2004, down from $1.05 during the first quarter of 2003.

Revenue for the first quarter of 2004 was $1.8 billion, compared with $1.4 billion for the first quarter of 2003. Revenue from financial institution and outsourcing was $288 million for the first quarter of 2004, versus $41 million for the first quarter of 2003. The increase was largely due to the acquisition of Fidelity Information Services on April 1, 2003, according to a company statement.

Real estate information services revenue was $143 million for the first quarter of 2004, compared with $114 million for the first quarter of 2003.

Fidelity National Financial provides products and outsourced services to financial institutions and the real estate industry.

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