Industry News

Stewart posts record revenues, boosts earnings

Company benefits from low interest rates in second quarter

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Stewart Information Services Corp. posted record revenues in the second quarter and strong gains in earnings, the company announced today. Revenues for the three-month period ended June 30, 2005, were $651 million, the highest in the company's history, and an increase of 15 percent over the $565 million reported in the same period last year. Second-quarter net earnings were $37.2 million, or $2.04 per diluted share, up 24 percent from a year ago when earnings totaled $30 million, or $1.65 per diluted share. Total revenues for the first half of 2005 were $1.2 billion, up 13 percent from the same period a year ago. Earnings for the first six months totaled $47.9 million, or $2.63 per diluted share, up 16.5 percent from $41.1 million, or $2.26 per diluted share, reported for the first six months of 2004. Order counts for the quarter and the month ended June 30, 2005, were up 9 percent and 22 percent, respectively, from the same periods a year ago, adjusted for the number of working...