Orange County
<i> Times Staff and Wire Reports</i>
Filing Away Profits: Filenet Corp., a seller of software and services to help banks and insurance companies process large amounts of information, is expected to report record revenue and earnings Wednesday for its fiscal year ended Jan. 1. The Costa Mesa company said earlier that it expected its profit to rise nearly 49% to $16 million, or $1.37 per share, on revenue of $179 million, up 13%. That compares to profit of $7.8 million, or 71 cents per share, in 1993. Ted Smith, Filenet’s president and chief executive, said the results show the company is making a successful transition away from selling computer hardware, which was not as profitable as the software side of its business.
