First American Financial Corp., a Santa Ana...

First American Financial Corp., a Santa Ana holding company for title insurance and trust operations, posted record net income of $7.3 million for the third quarter, a 30% increase over $5.6 million earned in the third quarter last year. Quarterly revenue rose 6% to a record $175.2 million from $165.9 million last year. For the first 9 months, the company’s net income was $8.8 million, down 69% from $28.5 million for the same period last year. Revenue fell 4% to $459 million for the period from $478.8 million last year. The 9-month results were partially affected by fraudulent activity by three East Coast agents. The fraud, which was previously announced, cost the company $8.4 million in the first two quarters. In addition, last year’s profit was enhanced by a one-time $9-million tax benefit.