Capital Title Group Inc., a fast-growing Arizona firm that plans to merge with Land America Financial Group, today reported second-quarter revenue was down 19.8 percent from the same quarter last year, to $84.9 million.

Capital Title attributed the drop in revenue — and a decline in earnings per share from 30 cents to 9 cents — to a general slowdown in real estate market activity. The company also had 31 million shares outstanding, compared with 24.2 million at the end of second-quarter 2005, which diluted earnings. Capital Title said legal expenses, professional fees and stock options also contributed to a 3-cents-per-share decline in earnings.

Donald R. Head, Capital Title’s chairman, president and chief executive officer, said a planned merger with LandAmerica continues to move forward. Stockholders must approve the deal at a special meeting Aug. 10.

Named to Fortune’s list of the 100 fastest-growing companies in America for two years running, Scottsdale-based Capital Title and its subsidiaries employ more than 2,200. Subsidiaries include Capital Title Agency, New Century Title Co., United Title Co., First California Title Co., Land Title of Nevada, CTG Real Estate Information Services, Nationwide Appraisal Services, Nationwide TotalFlood Services Inc., NAC1031 Exchange Services, 1031 ExchangePoint Inc. and AdvantageWare. The company is licensed to issue and underwrite title insurance policies in Arizona, California, Florida, Nevada, New York, Pennsylvania and Texas through its underwriting subsidiary, United Capital Title Insurance Co.

***

Send tips or a Letter to the Editor to matt@inman.com or call (510) 658-9252, ext. 150.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Hear from Realogy, Pacaso, SERHANT., Spotify, Redfin, Douglas Elliman, and 100+ more leaders at ICNY.Register now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription