FileNet Reports $2.6-Million Loss in ’96

Software vendor FileNet Corp. reported a net loss of $2.6 million, or 18 cents a share, for 1996, including one-time charges of $16 million for merger, restructuring and purchased research and development costs. For 1995, the company earned $8.2 million, or 52 cents a share.

Revenue rose 17% to $268.9 million from $229.4 million. Net income for the fourth quarter was $3.2 million, or 20 cents a share, down 38% from net income of $5.2 million, or 32 cents a share, for the 1995 fourth quarter. Revenue increased 7% to $72.6 million from $67.7 million.