Fidelity National Revenue Up 10%
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Fidelity National Financial Inc., the Irvine provider of title insurance and real estate-related products and services, said net income for the first quarter totaled $1.9 million, or 6 cents a share, which included charges of $13.4 million related to the revaluation of nontitle operations, including the company’s investment in courier and attorney service Express Network Inc. and certain obsolete software. Fidelity earned $19.8 million, or 60 cents a share, in the first quarter last year. Revenue gained 10% to $377.7 million.
The results for the recent quarter include operations of Chicago Title Corp. for 11 days. Fidelity acquired its former rival March 20.
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