FileNet Corp. Reports $300,000 2nd Quarter Earnings Turnabout

FileNet Corp., a privately held maker of document storage systems, said net earnings during the second quarter of 1986 were $300,000, contrasted to a net loss of $1.5 million for the same period a year earlier. The Costa Mesa company--which is considering a public offering--said net earnings during the first half totaled $340,000, in contrast to a net loss of $3.3 million.

Revenues for the second quarter were $6.8 million, up from $1.9 million. For the first six months of 1986, revenues rose to $12.1 million, from $3.3 million.

Mark St. Clare, a spokesman for FileNet, attributed the turn-around to FileNet’s shift from a development-level company to one that now has a marketable product. The company has begun selling its document storage system, capable of storing millions of pages on a computer disk.

To date, the four-year-old company has received about $30 million in venture capital, but is considering an initial public stock offering for early 1987, St. Claire said. Although underwriters have been retained, the timing of an offering will be tied to overall market conditions, he said.