Fidelity National Financial, Inc. Reports Second Quarter 2008 EPS of $0.03
July 24, 2008
Fidelity NationalFinancial, Inc. has reported operating results for the three-month and six-month periods ended June 30, 2008. The Board of Directors also declared a quarterly cash dividend of $0.30 per share.
|
Three Months Ended |
Three Months Ended |
Total revenue |
$1.18 billion |
$1.50 billion |
Pre-tax margin |
1.1 % |
8.5 % |
Net earnings |
$6.9 million |
$84.8 million |
Net earnings per diluted share |
$0.03 |
$0.38 |
Cash flow from operations |
$12.6 million |
$144.6 million |
|
Six Months Ended |
Six Months Ended |
Total revenue |
$2.32 billion |
$2.86 billion |
Pre-tax margin |
2.2 % |
8.8 % |
Net earnings |
$34.2 million |
$168.2 million |
Net earnings per diluted share |
$0.16 |
$0.75 |
Cash flow from (used in operations) |
($62.3 million) |
$229.7 million |
The following are summary financial and operational results for the operating segments of FNF for the three-month and six-month periods ended June 30, 2008 and 2007:
Fidelity National Title Group ("FNT")
|
Three Months Ended |
Three Months Ended |
Total revenue |
$1.04 billion |
$1.36 billion |
Pre-tax earnings |
$5.1 million |
$130.0 million |
Pre-tax margin |
0.5 % |
9.5 % |
|
Six Months Ended |
Six Months Ended |
Total revenue |
$2.05 billion |
$2.61 billion |
Pre-tax earnings |
$58.2 million |
$244.2 million |
Pre-tax margin |
2.8 % |
9.4 % |
Month |
Direct Orders |
Direct Orders |
|
April 2008 |
168,900 |
113,200 |
67 % |
May 2008 |
156,900 |
99,800 |
64 % |
June 2008 |
136,800 |
94,500 |
69 % |
Second Quarter 2008 |
462,600 |
307,500 |
66 % |
Month |
Direct Orders |
Direct Orders |
|
April 2007 |
211,100 |
136,000 |
64 % |
May 2007 |
215,70 |
141,200 |
65 % |
June 2007 |
195,300 |
131,500 |
67 % |
Second Quarter 2007 |
622,100 |
408,700 |
66 % |
|
|
|
Commercial Revenue |
|
2nd Quarter 2008 |
16,200 |
9,400 |
$60,600 |
$6,400 |
2nd Quarter 2007 |
20,000 |
12,400 |
$97,300 |
$7,800 |
The preceding table only includes commercial activity from FNF's commercial offices in the national commercial division and does not attempt to capture potential commercial activity in our local offices.
Source: Fidelity NationalFinancial, Inc.
Contact ALTA at 202-296-3671 or [email protected].