American Land Title Association
Home  >  News Room
News Room


SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software


North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.


Industry News

First Advantage Corporation Reports Operating Results for the Third Quarter of 2005

October 26, 2005

ST. PETERSBURG, Fla., /PRNewswire-FirstCall/ -- First Advantage Corporation (Nasdaq: FADV), a global risk mitigation and business solutions provider, today announced operating results for the third quarter of 2005.

First Advantage reported net income of $16.0 million (30 cents per diluted share) for the quarter ended Sept. 30, 2005. Net income was $13.0 million (26 cents per diluted share) for the quarter ended Sept. 30, 2004.

Revenues for the company were $169.9 million and $134.1 million for the quarters ended Sept. 30, 2005, and Sept. 30, 2004, respectively.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were $35.1 million and $28.7 million for the quarters ended Sept. 30, 2005, and Sept. 30, 2004, respectively.

"We are very pleased to report our third quarter operating results, inclusive of the Credit Information Group (CIG) we recently acquired from our parent company, The First American Corporation," said John Long, chief executive officer of First Advantage Corporation. "The operating results for the quarter demonstrate the earnings and cash flow potential of the combined companies, which we intend to leverage to pursue future opportunities."

In addition to CIG, First Advantage also acquired Phoenix Research Corporation, Jenark Business Systems, Inc. and Recruiternet, Inc. during the third quarter, and Road Manager Financial Services, Inc. and True Data Partners in October. In September, First Advantage also entered into a $225 million senior secured credit facility with a syndicate of financial institutions led by Banc of America, which will be used to refinance existing debt, support future acquisitions and provide ongoing working capital.

Management estimates that diluted earnings per share will be in the range of 22 cents to 26 cents for the fourth quarter ending Dec. 31, 2005.

Source: First Advantage



Print Friendly


How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
www.alta.org
service@alta.org
Copyright © 2004-2015 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment