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FILENET CORP REPORTS REVENUE FOR THE THIRD QUARTER AND NINE MONTHS ENDED OCT. 4, 1992

 FILENET CORP REPORTS REVENUE FOR THE
 THIRD QUARTER AND NINE MONTHS ENDED OCT. 4, 1992
 COSTA MESA, Calif., Oct. 22 /PRNewswire/ -- FileNet Corp. (NASDAQ-NMS: FILE), today reported revenue for the third quarter ended Oct. 4, 1992, was $37.2 million, up 26 percent from the $29.5 million reported for the third quarter of 1991. Net income was $1.1 million or 10 cents per share on 10.9 million shares outstanding compared to $1.0 million or 10 cents per share on 10.8 million shares outstanding for the third quarter of 1991.
 FileNet shipped 25 systems and added 19 new customers during the quarter. The final results for the quarter are essentially the same as the estimated results reported on Oct. 8, 1992.
 Revenue for the nine-month period ended Oct. 4, 1992, was $106.5 million, a 25 percent increase from the $85.4 million for the same period in 1991. Net income and net income per share for the nine-month periods were $3.7 million, or 33 cents, compared to $4.8 million, or 45 cents, for the same period last year.
 "As I indicated previously, we have continued to build our worldwide sales and marketing organization and have increased research and development resulting in higher expenses in both of those areas," stated Ted Smith, president and chief executive officer. "Lower than expected revenues have resulted in earnings declining when compared to last year's nine-month period."
 FileNet's financial position remains strong with cash and marketable securities, net of borrowings, in excess of $23 million, approximately $53 million in working capital, a current ratio of 2.9 to 1, and minimal long-term debt. At Oct. 4, 1992, shareholders' equity was $84 million.
 FileNet Corp. is the industry leader in imaging and business process automation solutions. The company's WorkFlo(R) Business System software, a set of products that manages and controls the movement of images, data, and text throughout an enterprise, is the most widely installed software of its kind. FileNet customers include paper-intensive organizations in virtually every industry and level of government. Headquartered in Costa Mesa, FileNet markets its products directly to end users through the company's sales offices in the United States, Canada, France, Germany and United Kingdom. FileNet systems are also sold in other countries by Ing. C. Olivetti & C., S.p.A.; Tokyo Officemation Inc., a Mitsui company; and various distributors. FileNet has installed 575 systems in 27 countries.
 -0- 10/22/92
 /CONTACT: Mark St. Clare, CEO of FileNet, 714-966-3577, or Lise Needham of the Financial Relations Board, 415-986-1591, for FileNet/
 (FILE) CO: FileNet Corp. ST: California IN: CPR SU: ERN


SG-TM -- SF003 -- 3307 10/22/92 08:39 EDT
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Publication:PR Newswire
Date:Oct 22, 1992
Words:446
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