Fidelity National Financial, a provider of title insurance and specialty insurance services, has reported net income attributable to common shareholders of $83.2m or $0.36 per diluted share for the third quarter of 2010, compared to $73.4m or $0.32 per diluted share, for the same quarter of 2009.
Total revenue for the third quarter of the 2010 was $1.42bn compared to $1.47bn for the same quarter of 2009.
For the first nine months of 2010, the company reported net income attributable to common shareholders of $239.3m, or $1.04 per diluted share, compared to $153m, or $0.67 per diluted share, for the same period a year ago.
Total revenue for the first nine months of 2010 was $4.13bn, compared to $4.37bn for the same period of 2009.
Fidelity National Financial chairman William Foley said, this was another solid quarter for the title insurance business. For the quarter, refinance orders comprised approximately 67% of total open orders and 63% of closed orders, with closed refinance orders peaking at 67% of total closed orders during the month of September.
“While we started to see an increase in closing activity later in the quarter, a large number of the third quarter open orders will actually close during the fourth quarter, providing further earnings momentum as we close out 2010,” Foley said.