Fidelity National Financial has reported total revenues of $1.50bn for the second quarter of 2010, a decrease of 3.8% compared to $1.56bn for the same quarter in 2009.
The company posted total title premiums of $897.4m for the second quarter compared to $1.04bn for the same period last year.
Earnings before income taxes were $213.07m for the second quarter of 2010 compared to $131.77m for the same quarter in 2009.
For the quarter ended June 30, 2010, the company posted net income of $139.6m, or $0.61 per share, compared to $91.9m, or $0.40 per share, for the same period last year.
William Foley, chairman of Fidelity National, said: “In our title business, we generated a robust pre-tax margin of 9.6%, despite a 31% decline in closed orders versus the second quarter of 2009. Resale transactions were 54% of closed orders during the second quarter versus 34% in last year’s second quarter, with this mix shift primarily causing a 28% increase in fee per file over the second quarter of 2009.”