FileNet’s Earnings Exceed Expectations

FileNet Corp. said it expects to report third-quarter earnings of about $1.8 million, or 12 cents a share, higher than analysts’ estimates.

The company’s stock surged 40% Friday amid optimism that new management and products will lead to an earnings recovery. On Monday, the stock edged up another 13 cents to close at $22.88 on the Nasdaq market.

Analysts had estimated that the company, which makes document imaging products, would post earnings of about 6 cents a share for the third quarter.

FileNet said it expects to record revenue of about $65 million.

A year ago, the company earned $3.4 million, or 22 cents a share, on revenue of $64.6 million.

The company said international sales bolstered revenue for the quarter. It expects to report final results Oct. 24.