Industry News

LandAmerica revenue surpasses $1 billion

Company credits Title Operations segment

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

LandAmerica Financial Group reported record consolidated operating revenue for third-quarter 2005 of $1.02 billion, an increase of $163 million, or 19 percent, over third-quarter 2004. Acquisitions completed since Sept. 30, 2004, contributed approximately $20.5 million to this increase, the company said. Operating revenue for the Title Operations segment for third-quarter 2005 was $955.6 million, an increase of $146.8 million, or 18.2 percent, over third-quarter 2004. Operating revenue for the Lender Services segment increased 7.7 percent to $36.5 million for third-quarter 2005 over third-quarter 2004. The company reported third-quarter net income of $41.6 million, or $2.31 per share, up 24 percent from $33.5 million, or $1.88 per share, a year ago. "I am pleased to report record operating revenue for LandAmerica this quarter. For the first time, LandAmerica crossed the billion-dollar mark in quarterly operating revenue," said President and Chief Executive Officer Theodore L....