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July 10, 1997updated 05 Sep 2016 12:16pm

FILENET TO POST BIGGER-THAN-EXPECTED Q2 LOSS

By CBR Staff Writer

FileNet Corp, Costa Mesa, California document management company, says it will post a loss for the second quarter of approximately $3.8m or $0.25 per share, against net income of $2.5m, or $0.15 per share, a year ago. First Call was expecting a loss equivalent to roughly $0.14 per share. Revenue for the quarter is expected to be down 4% at $62.5m. The loss stems from restructuring charges of $6m in connection with the previously announced (CI No 3,131) consolidation of the company’s imaging product group and associated staff reductions. For the six months, the company expects a net loss of $13.2m on revenue off 16% at $110.1m. In May, FileNet reported a

first-quarter loss of $9.4m on revenue of $47.6m (CI No 3,161).

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