FileNet Reports $8-Million Loss

FileNet Corp., already embroiled in a shareholder lawsuit, on Thursday reported an $8-million loss for 1992, blaming worldwide sluggishness in the document-imaging industry and a $6.3-million charge-off.

The company said the loss was greater than it had expected.

The announcement will likely be added fuel for the suit, filed in January, accusing the company of misleading stockholders. The suit alleges that the company misled investors, encouraging them to buy stock in the high-tech concern before releasing news that a fourth-quarter loss was anticipated.

The annual loss of $8 million, or 76 cents a share, contrasted with a 1991 profit of $8.1 million, or 75 cents. Yearly revenue rose 13% to $138.3 million from $122.5 million.

For the fourth quarter, FileNet posted a loss of $11.7 million, or $1.11 a share, contrasted with a profit of $3.3 million, or 30 cents, for the same period a year earlier. Revenue for the three months ended Jan. 3 fell 14% to $31.8 million from $37 million.

Thursday’s announcement drove down the company’s already depressed stock by 10%. In trading on the NASDAQ market, FileNet closed at $11 a share, off $1.125.