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Stock impact report

Investors Title Company Announces Record Second Quarter 2018 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 second quarter ended June 30, 2018. Net income attributable to the Company increased 22.4% to a new second quarter record of $6.9 million, or $3.66 per diluted share, versus $5.7 million, or $2.99 per diluted share, for the prior year period. Revenues also set a new second quarter record, increasing 4.5% to $41.9 million, compared with $40.1 million in the prior year period. Net premiums written increased due to higher real estate values, as well as a shift to higher-premium purchase activity, which offset the decline in refinance activity that has occurred over the past year. Other investment income increased primarily due to higher earnings from partnership investments. Implementation of a new accounting standard in 2018 resulted in recognition of a $0.3 million net unrealized gain on equity Show less Read more
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