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First American Corp

BUSINESS
April 12, 2001 | Dow Jones
First American Corp., which operates the nation's second-largest title insurance company, said Wednesday it expects "at least" to meet current earnings estimates of 27 cents a share for the first quarter. The Santa Ana company said in a press release that it plans to report first-quarter results before the opening of regular market trading May 2. A Thomson Financial/First Call survey of five analysts produced a mean earnings estimate of 27 cents a share for the company's first quarter.
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BUSINESS
March 21, 2001
First American Corp., which operates the nation's second-largest title insurer, said Tuesday that it has created a company to pull criminal records from courthouse files and sell background reports over the Internet at $40 each. The Santa Ana business and real estate services company said in a press release that its HireCheck Inc.
BUSINESS
February 21, 2001
First American Corp., a Santa Ana title company that also provides real estate-related financial and informational services, reported net income of $31.8 million, or 47 cents a share, for the fourth quarter, which included an after-tax gain of $10.7 million resulting from modifications to the company's pension plan and realized investment losses. For the 1999 fourth quarter, a net loss of $2.2 million, or 3 cents a share, was recorded. Revenue increased 9% to $761.9 million.
BUSINESS
February 13, 2001
First American Corp., a Santa Ana title company that offers real estate-related financial and informational services, said Monday it agreed to acquire LFC Nationwide, a provider of property and other real estate-related inspections. Financial terms were not disclosed. The transaction is expected to close in March. LFC, which is based in Sterling, Va., has about 150 employees.
BUSINESS
February 6, 2001 | Dow Jones
First American Corp. said it sold its Contour Software Inc. unit to Ellie Mae Inc., a provider of Internet services for the mortgage industry, for a stake in Ellie Mae and the right to appoint a member to its board. Financial information wasn't available. First American, a Santa Ana title company that offers real-estate-related financial and informational services, said it will realize a gain from the sale. A spokesman wouldn't elaborate. Analysts estimate First American's earnings at $1.
BUSINESS
January 31, 2001 | Reuters
First American Corp. said it would buy Credit Management Solutions Inc. for about $52 million in a stock-for-stock deal, broadening its centralized national database that streamlines title searches. The move, approved by the boards of both companies, is expected to close in the second quarter of 2001, said First American, a Santa Ana-based title company that offers real-estate-related financial and informational services. Shareholders of Credit Management, based in Annapolis Junction, Md.
BUSINESS
January 31, 2001 | From Reuters
First American Corp. said Tuesday it agreed to acquire Credit Management Solutions Inc. for about $52 million in a stock swap, broadening its centralized national database that streamlines title searches. The move, approved by the boards of both companies, is expected to close in the second quarter, said First American, a Santa Ana title company that offers real-estate-related financial and informational services. Shareholders of Credit Management, based in Annapolis Junction, Md.
BUSINESS
January 12, 2001
First American Corp. in Santa Ana, one of the nation's largest title insurance firms, said Thursday that a subsidiary has acquired a New Jersey firm that provides background checks on job applicants and current employees. First American said in a press release that its HireCheck Inc. unit acquired Pretiem Corp. Financial terms were not released. Pretiem expands HireCheck's employment-screening services in the mid-Atlantic region and among the maritime and energy industries.
BUSINESS
December 19, 2000 | From Dow Jones Newswires
Business is looking brighter for title insurance companies, including two Orange County titans, as speculation grows that the Federal Reserve may cut interest rates soon. Title insurance companies rely on real estate transactions for revenue, and if interest rates fall, mortgage refinancing activity "quite naturally goes higher" and will push the companies' earnings higher, said Michael Grondahl, a US Bancorp Piper Jaffray analyst.
BUSINESS
November 2, 2000
The Santa Ana operator of the nation's second-largest title insurance company reported third-quarter profit of $24.4 million, or 37 cents a share, down 13% from $28 million, or 42 cents a share, posted a year ago. Revenue declined 3% to $750.3 million.
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