FileNet Corp. to Report Loss of $12 Million in 1st Quarter

FileNet Corp. expects to report a first-quarter loss of about $12 million, or 72 cents a share, after charges related to acquisitions and restructuring.

The company, which makes document managing systems, said it expects that its profit before the charges will be $4.1 million, or 25 cents a share, well below the 36-cent average estimate from six analysts surveyed by Zacks Investment Research. FileNet also said results were hampered by weak software sales at Saros Corp., which FileNet acquired in March 1995.

The company said it expects to report revenue of $68 million, a 40% improvement from the $48.4 million reported a year ago.