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Fidelity National Financial, Inc. Reports Third Quarter 2004 EPS of $1.09

October 21, 2004

JACKSONVILLE , Fla. , /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE: FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, today reported operating results for the three and nine-month periods ended September 30, 2004.

3rd Quarter Net Earnings 3rd Quarter 2003 Net Earnings

$193.8 million
$1.09 per diluted share

$277.3 million
$1.81 per diluted share

Nine Months September 30, Net Earnings Nine Months Ended September 30, 2003 Net Earnings

$566.1 million
$3.23 per diluted share

$665.6 million
$4.50 per diluted share

  • Operating revenue for the third quarter of 2004 was $2.14 billion, compared with $2.17 billion for the third quarter of 2003
  • Total title and escrow revenue was $1.51 billion for the third quarter of 2004 versus $1.53 billion in the third quarter of 2003
  • Direct and agency title premiums were $508 million and $741 million, respectively, for the third quarter of 2004 versus direct and agency title premiums of $637 million and $584 million, respectively, in the third quarter of 2003
  • Escrow and other title-related fees were $263 million for the third quarter of 2004 versus $313 million for the third quarter of 2003
  • Revenue from Financial Institution Software and Services("FISS"), was $310 million for the third quarter of 2004 versus $226 million for the third quarter of 2003
  • FISS gross organic revenue growth, including inter segment revenue, was 10.5 percent for the third quarter of 2004 over the third quarter of 2003; net organic revenue growth was 4.2 percent
  • Lender Outsourcing Solutions("LOS") revenue was $103 million for the third quarter of 2004 versus $206 million for the third quarter of 2003; LSI contributed $34 million and Default Management $58 million in revenue for the third quarter of 2004 versus $143 million for LSI and $45 million for Default Management in the third quarter of 2003
  • Information Services("IS") revenue was $141 million for the third quarter of 2004 compared with $155 million for the third quarter of 2003
  • Specialty Insurance contributed $64 million for the third quarter of 2004 versus $33 million in the third quarter of 2003

Source: Fidelity National Financial, Inc.



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