Industry News

First American’s income drops

Company reports $32.6 million decrease from year-ago level

The First American Corp. today reported net income of $55 million for the first quarter, down from $87.6 million in the first quarter of 2003.   Net income per diluted share was $0.62, down from $1.05 during the same period last year.   Total revenues reached $1.47 billion, up from $1.34 billion in the first quarter of 2003.   "We are pleased with the company's performance during the first quarter of 2004, especially in light of the substantial slowdown in mortgage activity during November and December of 2003," Parker Kennedy, president of The First American Corp., said in a statement. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom.Please include the headline of the story. ...