Industry News

LandAmerica posts another quarter of record revenue

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LandAmerica Financial Group's operating revenue once again passed the billion-dollar mark, hitting $1.07 billion in the fourth quarter of 2005, an increase of $151.9 million over third-quarter -2004. Net income was $59.8 million for the fourth quarter of 2005. Operating revenue for the company's title operations segment for fourth-quarter 2005 was $1 billion, an increase of $142.1 million, or 16.4 percent over the fourth quarter of 2004. The company had reported record consolidated operating revenue of over a billion dollars for the third quarter of 2005 as well. Operating revenue in the Lender Services segment for fourth quarter 2005 decreased $1.2 million, or 3.1 percent, compared to fourth-quarter 2004. Before the impact of acquisitions completed since Sept. 30, 2004, operating revenue for the segment decreased $4.6 million for fourth-quarter 2005. Direct orders opened were 267,400 for fourth-quarter 2005, compared with 263,800 for fourth-quarter 2004, an increase of 1.4 percent o...