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October 7, 1998

FILENET SET FOR SURPRISE Q3 LOSSES

By CBR Staff Writer

FileNet Corp, the Costa Mesa, California-based, document management software developer, is set to make a surprise loss for its third quarter after failing to close several key deals. FileNet said it was heading for a net loss of at least $5.8m or $0.18 per share on revenues down $9m sequentially to an expected $71m. Analysts contacted by First Call were expecting earnings of $0.14 per share. Chief executive Lee Roberts, who joined the company this year from IBM Corp, said his sales force had failed to reach adequate levels of productivity. He also blamed the slower than expected sales on wider global issues but insisted that FileNet’s market was still growing. á

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