Fidelity National Financial, an Irvine title insurance...

Fidelity National Financial, an Irvine title insurance holding company, posted net income of $276,000 for its fiscal second quarter ended April 30, an 85% drop from $1.9 million earned in last year’s fiscal second quarter. Revenue rose 30% to $30.3 million from $23.3 million last year. For the six months, Fidelity National had a loss of $1 million, contrasted with net income of $3.1 million the first six months last year. Revenue rose 29% to $57 million from $44.1 million last year. William P. Foley II, president, attributed the lower second-quarter profit and the six-month loss to expenses incurred in the purchase of Western Title Insurance in Northern California, the relocation of company headquarters last fall to Irvine from Scottsdale, Ariz., and the reduced orders for title insurance caused by higher interest rates.