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Stock impact report

Investors Title Company Announces First Quarter 2019 Financial Results

Investors Title Company (ITIC) 
US:NASDAQ Investor Relations: invtitle.com/investor-relations-overview
Company Research Source: Business Wire
CHAPEL HILL, N.C.--(BUSINESS WIRE)-- Investors Title Company (NASDAQ: ITIC) today announced its results for the quarter ended March 31, 2019. The Company reported net income attributable to the Company of $6.6 million, or $3.49 per diluted share, compared to $4.2 million, or $2.20 per diluted share, for the prior year period. Income before income taxes increased 59.1% to $8.3 million for the current quarter versus $5.2 million in the prior year period, primarily due to the January 1, 2018 implementation of a new accounting standard requiring unrealized changes in the market value of equity investments to be included in income. The Company recorded a $4.7 million net unrealized gain on equity investments for the current quarter versus a $642 thousand net unrealized loss in the prior year period. Excluding the impact of the unrealized changes in the market value of equity investments, income before income Show less Read more
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