HOUSTON (April 8, 2002) - Fortune magazine has released its annual listing of America's largest corporations, the Fortune 500, as well as the broader-based Fortune 1000. Stewart Information International Corporation (NYSE-STC) has entered the Fortune 1000 list at 941, with $1,271.6 million in revenue for 2001. Profits were $48.7 million and earnings per share in 2001 were $2.98.
"Our 2001 revenues and earnings were a new record in the history of the company," said Malcolm S. Morris, chairman of the board and co-chief executive officer. "We are very pleased, and will continue to build on that positive performance, focusing on profits and return on equity. Most important in today's world, Stewart has a sound balance sheet, conservative financial management and impressive national market share growth."
"This excellent news follows on the October announcement that Stewart had been added to the Standard & Poor's SmallCap 600," he added. "In January, Stewart was selected to the Forbes Platinum 400 list of the 'Best Big Companies in America,' leading the entire slate of 17 insurance companies on the list for the highest five-year average growth in earnings per share."
"Stewart came out of 2001 bigger, better and stronger, and our record profits and revenues reflect that," said Stewart Morris Jr., president and co-chief executive officer. "We enjoyed a record year in our real estate information segment; we continue to focus on acquiring strategically located title agencies in markets with high growth potential; and our leading technology increases productivity and reduces costs while providing more and better service to customers."
"We are pleased to be recognized by the financial community for our excellent financial performance," he added. "Stewart associates, affiliates and our independent title agents all worked together for the company's success in 2001."
To see Stewart's listing, go to http://www.fortune.com/lists/F500/index_901.html. For the industry listing, where Stewart is listed under Insurance: P & C (stock), go to http://www.fortune.com/lists/F500/indsnap_32.html. For the complete Fortune 500 list, go to http://www.fortune.com/lists/F500/index.html.
Stewart Information International Corp. is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related information services through more than 5,800 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, property appraisals, surveys, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at http://www.stewart.com/.