First American Financial Sets Records

First American Financial Corp., a Santa Ana title insurance and real estate service company, said that a robust national economy and exceptionally strong real estate market--particularly in California--resulted in record revenue and net income for the second quarter.

Profits more than doubled, to $45.1 million, or 80 cents a share, from $18.5 million, or 35 cents a share, for the same period in 1997. Revenue increased 56% to $704.3 million from $450.4 million. First-half net income rose to $90.1 million, or $1.63 a share, from $21.4 million, or 40 cents a share, for the comparable six months in 1997.

Revenue totaled $1.3 billion, which included an investment gain of $32.4 million related to a joint venture with Experian. Revenue for the like period last year was $833.3 million.