The Bloodless Empire’s Q2 results remain “preliminary”:
At the end of last week, the company became aware of circumstances surrounding an investment held by First American Title Insurance Company (FATICO) in a title agent that may cause the investment to be impaired. The company is currently evaluating whether to impair its $37.3 million carrying value; however any impairment will not impact FATICO’s statutory surplus. The final determination with respect to any impairment will be reflected in the company’s Form 10-Q for the quarter ended June 30, 2008, which it expects to timely file. Consequently, the results presented in this news release are preliminary.
Anyone want to hazard a guess as to what agent FATICO hasÂ $37.3 million sunk into that might be impaired? I think we have the answer to our question.
Net income per share $.45.
The split is on terminal hold.