FileNet Corporation, the leading provider of Enterprise Content and Business Process Management solutions, recently announced the financial results for its fourth quarter ended December 31, 2005.
For the year ended December 31, 2005, total revenues were US$ 421.8 million, compared to revenues of US$ 397.6 million reported for the year ended December 31, 2004. Software revenues for 2005 were US$ 167.2 million, compared to software revenues of US$ 154.3 million reported for 2004. For 2005, net income was US$ 40.4 million, compared to net income of US$ 29.4 million for 2004. For year 2005, earnings per basic and diluted share were US$ 0.99 and US$ 0.95, respectively, compared to earnings per basic and diluted share of US$ 0.75 and US$ 0.72, respectively, for year 2004. During 2004, the company released a portion of its valuation allowance, which resulted in non-cash benefit to its tax expense of US $13.5 million.
Total revenues for the fourth quarter of 2005 were US $115.6 million compared to total revenues of US$ 107.5 million for the same period in 2004 and US$ 101.6 million for the third quarter of 2005. Software revenues for the fourth quarter of 2005 were US$ 49.7 million compared to US$ 44.8 million for the same period in 2004 and US$ 38.5 million for the third quarter of 2005. Net income was US$ 14.8 million in the fourth quarter of 2005, compared to net income of US$ 16.9 million in the fourth quarter of 2004 and US$ 8.5 million in the third quarter of 2005. Fourth quarter 2004 net income includes a non-cash tax benefit. Earnings per basic and diluted share were US$ 0.36 and US$ 0.35, respectively for the fourth quarter of 2005, compared to earnings per basic and diluted share of US$ 0.42 and US$ 0.41, respectively, for the fourth quarter of 2004. For the third quarter of 2005, earnings per basic and diluted share were US$ 0.21 and US$ 20, respectively.
“I am pleased to report that FileNet finished the year with another strong quarter. We had solid performance and achieved record revenues for the quarter and full year,” said Lee Roberts, chairman and CEO of FileNet. "We are excited about 2006 as we continue to execute on our strategy to establish the FileNet P8 platform as the Enterprise Content and Business Process Management standard for the world’s leading organizations.”
As of December 31, 2005, FileNet had cash and investments of $392.0 million, compared to $348.7 million at December 31, 2004. The company has no long-term debt.
FileNet Corporation (NASDAQ: FILE) helps organizations make better decisions by managing the content and processes that drive their business. FileNet’s Enterprise Content Management (ECM) solutions allow customers to build and sustain competitive advantage by managing content throughout their organizations, automating and streamlining their business processes, and providing a spectrum of connectivity needed to simplify their critical and everyday decision-making.
FileNet ECM products are designed to deliver a broad set of capabilities that integrate with existing information systems to provide cost-effective solutions that solve real-world business problems.
Since the Company’s founding in 1982, more than 4,000 organizations, including more than three quarters of the FORTUNE 100, have taken advantage of FileNet solutions for help in managing their mission-critical content and processes.
Headquartered in Costa Mesa, Calif., the Company markets its innovative ECM solutions in more than 90 countries through its own global sales, professional services and support organizations, as well as via its ValueNet® Partner network of resellers, system integrators and application developers. For more information, please visit the company's website at: www.filenet.com.
