FileNet’s Earnings Exceed Expectations
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COSTA MESA — FileNet Corp. said it expects to report third-quarter earnings of about $1.8 million, or 12 cents a share, higher than analysts’ estimates.
The company’s stock surged 40% Friday amid optimism that new management and products will lead to an earnings recovery. On Monday, the stock edged up another 13 cents to close at $22.88 on the Nasdaq market.
Analysts had estimated that the company, which makes document imaging products, would post earnings of about 6 cents a share for the third quarter.
FileNet said it expects to record revenue of about $65 million.
A year ago, the company earned $3.4 million, or 22 cents a share, on revenue of $64.6 million.
The company said international sales bolstered revenue for the quarter. It expects to report final results Oct. 24.
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