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February 22, 2008
Stewart Title Parent Suffers Loss, Cutting Jobs
Stewart Information Services Corp reported a fourth-quarter loss and its first annual loss since 1974, and said it plans deeper job cuts to cope with the nation's severe decline in the housing market.
The parent of Stewart Title Co said it lost $31.3 million in the fourth quarter, compared with a profit of $10.7 million a year earlier.
Revenue fell 23 percent to $499.7 million, compared with the average forecast for $547.1 million.
Posted by S. Germain at February 22, 2008 08:43 AM