FileNet’s Third Quarter Brings $2.2-Million Net

FileNet, a Costa Mesa manufacturer of image-processing systems, reported net income of $2.2 million for the third quarter. The quarterly earnings include $772,000 in tax benefits resulting from a net operating loss carry-forward.

FileNet’s third-quarter profit compares to earnings of $429,000 for the same period a year ago. The 1986 figure includes a similar $186,000 extraordinary item. Revenues for the third quarter increased 86% to $14.5 million, from $7.8 million last year.

For the nine months, net income was $4 million, contrasted with $640,000 for the same period a year ago. The extraordinary items accounted for $1.4 million in 1987 and $283,000 in 1986. Nine-month revenues rose 76% to $34.9 million from $19.9 million a year earlier.