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BUSINESS
May 30, 1996
FileNet Corp. completed the consolidation of sales and customer support operations worldwide by combining the operations of the parent company and its newly acquired Watermark software and Saros businesses. Both Watermark and Saros publish document imaging software. A company spokesman said there are no planned layoffs. FileNet also named James M. Wilson vice president and general manager of the Watermark Software business, which operates as a unit.
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BUSINESS
May 30, 1996
FileNet Corp. completed the consolidation of sales and customer support operations worldwide by combining the operations of the parent company and its newly acquired Watermark software and Saros businesses. Both Watermark and Saros publish document imaging software. A company spokesman said there are no planned layoffs. FileNet also named James M. Wilson vice president and general manager of the Watermark Software business, which operates as a unit.
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BUSINESS
August 26, 1988
Saros Corp., a year-old computer software company in Bellevue, Wash., appointed Spencer Leyton as president and chief executive. Leyton formerly was vice president of business development with Symantec Corp.
BUSINESS
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.
BUSINESS
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.
BUSINESS
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.
BUSINESS
January 19, 1996 | LESLIE EARNEST, SPECIAL TO THE TIMES
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.
BUSINESS
July 3, 1996 | GREG MILLER, TIMES STAFF WRITER
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.
BUSINESS
January 14, 1998 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
In an effort to reclaim its dominance in the business software world, FileNet Corp. launched a new brand line this week and phased out some of its older products. The new Panagon line merges the company's disparate technologies, offering a software package that lets people use the Internet to manage the flow of their paperwork. Coinciding with the release, FileNet executives said Tuesday the company's fourth-quarter revenue and net income exceeded both their own and Wall Street's expectations.
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