Stapleton Cap (LSE:STC)
Historical Stock Chart
From Dec 2019 to Dec 2024
In the news release, Stewart Reports Operating Results for 2007, issued earlier today by Stewart Information Services Corporation over PR Newswire, in the Statements of Earnings table, the line item "(Loss) earnings before taxes and minority interests" under the Year Ended December 31 2007 column should read "(51,921)" rather than "84,536" as incorrectly transmitted by PR Newswire.
The corrected table follows.
STEWART INFORMATION SERVICES CORPORATION
STATEMENTS OF EARNINGS
(In thousands of dollars, except per share amounts)
Three months ended Year ended
December 31 December 31
2007 2006 2007 2006
Revenues
Title insurance:
Direct operations 213,138 262,647 947,342 1,028,688
Agency operations
256,410 351,309 1,040,719 1,321,994
Real estate information 16,497 21,244 66,037 81,159
Investment income 9,055 9,229 36,073 34,913
Investment and other gains - net 4,570 1,379 16,520 4,727
499,670 645,808 2,106,691 2,471,481
Expenses
Amounts retained by agencies 208,300 282,668 843,038 1,067,071
Employee costs 162,797 182,311 689,107 728,529
Other operating expenses 107,868 106,948 409,999 405,951
Title losses and related claims 54,884 41,708 168,501 141,557
Depreciation and amortization 10,688 10,842 41,125 37,747
Interest 1,788 1,666 6,842 6,090
546,325 626,143 2,158,612 2,386,945
(Loss) earnings before taxes
and minority interests (46,655) 19,665 (51,921) 84,536
Income tax (benefit) expense (17,685) 4,614 (23,926) 23,045
Minority interests 2,342 4,306 12,225 18,239
Net (loss) earnings (31,312) 10,745 (40,220) 43,252
Average number of diluted
shares (000) 18,030 18,308 18,162 18,304
Diluted (loss) earnings per (1.74) 0.59 (2.21) 2.36
share
Segment information:
Title revenues 483,173 624,564 2,040,654 2,390,322
Title pretax (loss) earnings
before minority interests (45,867) 19,852 (54,037) 83,234
REI revenues 16,497 21,244 66,037 81,159
REI pretax (loss) earnings
before minority interests (788) (187) 2,116 1,302
Selected financial information:
Cash (used) provided by
operations (2,805) 44,878 14,949 105,064
Title loss payments - net of
recoveries. 30,593 27,320 117,550 107,170
Changes in other comprehensive
earnings - 759 318 8,666 2,433
net of taxes
Number of title orders opened
(000):
October 48 59
November 42 55
December 38 48
Quarter 128 162
Number of title orders closed
(000):
Quarter 93 124
December 31 December 31
2007 2006
Stockholders' equity 750,944 802,262
Number of shares outstanding (000) 18,031 18,231
Book value per share 41.65 44.00
DATASOURCE: Stewart Information Services Corporation