Fidelity's fourth-quarter earnings sink

Fidelity National Financial today reported fourth-quarter net earnings of $174.9 million, or $.98 per diluted share, down 10.8 percent from a year ago.

The company's net earnings totaled $196.2 million, or $1.16 per diluted share, for the fourth quarter of 2003.

For all of 2004, net earnings were $741 million, or $4.21 per diluted share, down 14 percent from $861.8 million, or $5.63 per diluted share, reported for 2003.

Operating revenue for the fourth quarter of 2004 was $2.1 billion, compared with $2.04 billion for the fourth quarter of 2003. Total title and escrow revenue was $1.38 billion for the fourth quarter, compared with $1.49 billion in the fourth quarter of 2003.

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

Fidelity's stock (NYSE: FNF) was trading at $46.65 per share this morning.

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