FileNet Corporation (Nasdaq: FILE), the leading provider of Enterprise Content Management (ECM) solutions, announced financial results for its third quarter ended September 30, 2003.
Total revenues for the third quarter of 2003 were $89.4 million compared to total revenues of $83.1 million for the same period in 2002 and $87.1 million for the second quarter of 2003. Software revenues for the third quarter of 2003 were $35.3 million compared to $30.5 million for the same period in 2002 and $33.6 million for the second quarter of 2003. Net income was $2.5 million in the third quarter of 2003, compared to net income of $1.4 million in the third quarter of 2002 and $1.5 million in the second quarter of 2003. Earnings per basic and diluted share were $0.07 and $0.06, respectively, for the third quarter of 2003, compared to earnings per basic and diluted share of $0.04 for the third quarter of 2002 and $.04 for the second quarter of 2003.
As of September 30, 2003, FileNet had cash and investments of $217.5 million, compared to $205.8 million at June 30, 2003. The company has no long-term debt.
"Our third quarter results benefited from demand for our process management-based ECM solutions, continued traction of our new FileNet P8 suites and strong performance in the financial services market," said Lee Roberts, FileNet’s chairman and CEO. "Business Process Management remains a key differentiator for FileNet, and by providing integrated process and content management capabilities, we are uniquely positioned to support our customers’ compliance and regulatory requirements."