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ORANGE COUNTY BRIEFLY

August 03, 1994

Fidelity National Financial Inc.: The Irvine title insurance underwriter posted a second-quarter profit of $4.2 million, or 26 cents a share. That was down from earnings of $9.5 million, or 63 cents a share, for the same period in 1993. Revenue fell 12% to $130.3 million from $147.3 million. The company attributed the reduced profit and revenue to the decline in home refinancing activity and a sluggish residential resale market, both caused by higher mortgage interest rates. Year-to-date profit dropped 20% to $11 million, or 69 cents a share, from $13.8 million, or 94 cents a share, for the first six months last year.

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