Industry News

First American Corp. earnings dip

Data provider's quarterly income falls to $86 million

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

The First American Corp., one of the nation's largest data providers, today reported fourth-quarter earnings of $86.1 million, or 93 cents per diluted share, down from $94.1 million, or $1.07 per diluted share, during the same period the previous year. Quarterly revenue was $1.8 billion, up from $1.6 billion the previous year. Net income for all of 2004 was $364.8 million, down from $451 million in 2003. Total revenue for the year was $6.72 billion, up from $6.21 billion in 2003. Fourth-quarter revenue for company's Financial Services Group was $1.4 billion, up from $1.21 billion the previous year. Fourth-quarter revenue for First American's Information Technology Group was $404.3 million, up from $394.7 million the previous year. "With a slowdown in refinance transactions, the residential resale and new-home sale markets remained at record levels throughout the year. Improved operating efficiencies, coupled with market share improvement in all of the company's business segments...