January 15, 1996
FileNet Corp., which makes document-processing computer systems, has announced it is negotiating to buy Saros Corp., a software developer in Bellevue, Wash. FileNet said it could offer no assurance that the negotiations will lead to a sale. In July, FileNet Corp. bought Watermark Software Inc. in Massachusetts for $61 million worth of stock.
April 2, 1996
FileNet Corp. expects to report a first-quarter loss of about $12 million, or 72 cents a share, after charges related to acquisitions and restructuring. The company, which makes document managing systems, said it expects that its profit before the charges will be $4.1 million, or 25 cents a share, well below the 36-cent average estimate from six analysts surveyed by Zacks Investment Research. FileNet also said results were hampered by weak software sales at Saros Corp.
April 3, 1996
Shares of FileNet Corp. tumbled 21% Tuesday after the company said it will report a $12-million loss in the first quarter, partly because of disappointing sales at a recently acquired unit. The Costa Mesa-based company's stock fell $12.125 to close at $45.75 per share in heavy Nasdaq trading. FileNet makes document imaging systems that use digital scanners to store documents on laser disks.
January 19, 1996 |
FileNet Corp. continued its buying spree Thursday and said it expects to report record results for 1995. FileNet, which makes document-processing software systems, said Thursday it has signed an agreement to buy Saros Corp., a software company near Seattle, for stock valued at about $101 million. The Costa Mesa-based company also announced it will buy International Financial Systems Ltd., a software developer in New York, for about $10 million cash.
July 3, 1996 |
FileNet Corp. said it expects second-quarter earnings to fall well below analysts' projections because of disruptions stemming from recent acquisitions and a number of missed sales. The Costa Mesa-based company, which makes software used to manage electronically stored documents, said it expects second-quarter earnings of about $2.4 million, or 15 cents per share, short of analysts' projections of a $6.4-million profit, or 39 cents per share.