During the quarter, we eliminated more than 600 positions in our title operations and made significant progress on our previously stated $50 million cost savings project, identifying nearly $55 million in run rate cost savings. Our quarterly results also included one-time expenses of $9 million, or $0.04 per diluted share, representing our portion of the costs related to the Remy's debt restructuring in late 2010 and early 2011. Overall, this is a very positive start to what most experts have predicted will be a very difficult year in the mortgage and real estate markets. We believe we have our company positioned for strong performance for the remainder of 2011.We made modest stock repurchases during the quarter, repurchasing an approximately 800,000 shares at an average price of $13.84 for total proceeds of $11 million. We have a bond payment due in August of this year of approximately $165 million and, therefore, are conserving some cash to ensure that could be made on a timely basis.
Fidelity National Financial's CEO Discusses Q1 2011 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.