FileNet Corp. Reports Rise in Quarterly Earnings

FileNet Corp., the Costa Mesa-based maker of optical disc systems for document storage, said booming domestic and European sales gave it net earnings of $532,000 for the third quarter, contrasted with a $744,000 loss a year earlier. Sales for the period more than doubled to $7.8 million from $3.4 million.

For the first nine months, the company reported net earnings of $875,000, contrasted with a $3.7-million loss. Sales for the nine months tripled to $19.9 million from $6.7 million.

“In the third quarter we sold systems to financial services, governmental and other institutions in Italy, West Germany, the United Kingdom and Canada, as well as in the United States,” where customers included Security Pacific National Bank and Union Bank of Los Angeles, and Chase Manhattan Bank of New York, said Ted Smith, company president.