Filenet Corp, the Cosa Mesa, California document management company, has reported first quarter net profit down 18.8% at $2m on revenue up 10.6% to $81.4m. Net earnings per share fell 25% to $0.06, a penny better that the estimate of analysts surveyed by First Call. While software revenue was down 3% on the same period last year, services revenue increased 83% and customer support revenue was 30% higher. President and CEO Lee Roberts said the combination of services and applications was the way to increase their value and expand the core business. Filenet was increasing its focus on the internet market and believes its technology can be a significant component in the enterprise information portal market.
