(RTTNews) - Wednesday, after the bell, Fidelity National Financial, Inc. (FNF: News ), reported a swing to profit in the third quarter on higher revenues and lower expenses. However, the profit per share was lower than Wall Street expectations.

Fidelity's third quarter net earnings attributable to common shareholders were $73.4 million or $0.32 per share, compared to net loss of $198.3 million or $0.95 per share in the prior year quarter. Analysts polled by Thomson Reuters expected earnings of $0.34 for the quarter. Analysts' estimate typically exclude one-time items.

The company's total revenue went up to $1.47 billion from $969.8 million in the year-ago period and came in line with Street expectations.

Total title premium income was up to $982.96 million from $610.32 million in the year-ago period.

Fidelity National said 568,600 orders were opened this quarter, compared to 407,400 orders opened in the year-ago period; while 438,700 orders were closed, an increase from 260,600 closed in the prior-year period. The company said September showed the strongest open order volumes during the quarter; with open order volumes continuing to accelerate in October and reaching its highest level in the last four months.
Net earnings from continuing operations for the nine-month period was $153.0 million or $0.67 per share, compared with net loss of $164.1 million or $0.78 per share in the year-ago period. Total revenues for the nine-month period increased to $4.37 billion from $3.25 billion in the prior-year period.

Fidelity National also announced that its board has approved of a quarterly cash dividend of $0.15 per share, payable December 31, 2009 to stockholders on record as of December 17, 2009.

Fidelity National (FNF) stock closed Wednesday's regular trading session at $15.70, down $0.17 on the NYSE.

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by RTT Staff Writer

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