First American Financial Posts Record Net on 58% Income Gain

First American Financial Corp., the Santa Ana provider of real estate-related financial and information services, posted record net income for the first quarter on a 58% gain in revenue.

The company said profits rose to a record $45 million, or $2.49 a share, which included an investment gain of $32.4 million related to a joint venture with Experian. Net income for the first quarter of 1997 totaled $2.9 million, or 16 cents a share. Revenue increased 58%, to $605 million from $382.9 million.

The company said low mortgage rates and a particularly strong California real estate market contributed to record-setting residential transaction activity.