American Land Title Association
Print Friendly
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Stewart Information Misses 4Q Forecast

February 17, 2006

Earnings Shortfall From Stewart Information Services Sends Shares Lower

HOUSTON (AP) -- A sizable earnings shortfall from Stewart Information Services Corp. sent shares sharply lower on Thursday.

The insurer and real estate information services firm said fourth-quarter profit fell by more than half, to $9.1 million or 50 cents per share, from $20.3 million or $1.11 per share last year.

Analysts polled by Thomson Financial had forecast earnings per share of $1.41.

Quarterly revenue also fell short of estimates, rising almost 2 percent to $622.6 million from $612.3 in 2004. Analysts had expected sales of $653 million.

Investors sent Stewart Information shares down $2.51, or 4.9 percent, to $48.84 in afternoon trading on the New York Stock Exchange. Shares earlier traded as low as $48.49, and volume was more than double average daily volume.

Stewart Information blamed the lower results on higher employee costs and related operating expenses due to increased technology spending.

For the year, the company reported an 8 percent increase in net income to $88.8 million or $4.86 per share, on revenue of $2.4 billion.

Stewart Information did not offer financial guidance for the current quarter or 2006.

Coopyright 2006 Associated Press

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2016 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment