Title Insurer Fidelity National Profit Up Nearly Fourfold

Title insurer Fidelity National Financial Inc., prospering from a rebounding real estate economy last year, posted annual net profit of $24.3 million, or $1.71 a share, a nearly fourfold increase over $6.8 million, or 48 cents a share, earned the previous year. Annual revenue rose 55% to $636.9 million last year from $409.8 million.

The housing market was particularly strong in the last part of the year, helping Fidelity to post net income of $5.9 million, or 41 cents a share, for the fourth quarter, an 84% increase over the $3.2 million, or 23 cents a share, earned in 1995’s final three months. Revenue grew 46% to $172.2 million from $117.8 million.

Rainbow Technology Inc.: The Irvine-based maker of computer security products, reported a record profit and a 13% jump in sales for 1996. The company posted a profit of $10.5 million, or $1.30 per share, compared to net income of $9.8 million, or $1.22 per share, a year earlier. Sales climbed to $81.7 million from $72.6 million in 1995.

For its fourth quarter, the company reported a profit of $2.96 million, or 37 cents per share, compared to net income of $2.83 million, or 35 cents per share, in the fourth quarter of 1995. Sales climbed 8% to $21.2 million from $19.6 million.

The company attributed the improved results to increased demand for its computer network and telecommunications security products. Rainbow makes devices designed to guard against such things as software piracy and unauthorized access of computer files.