CORPORATE SNAPSHOT : FileNet, COSTA MESA
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Nature of Business: Developer, marketer and servicer of optical disk document-image processing computer systems.
Employees Total: 700
In Orange County: 460
Stock Designation: Listed on NASDAQ as “FileNet”
Ticker Symbol: “FILE”
Friday’s Close: $16.125
One-Week Change: $2.375
Analyst Review: “Document-image processing is an industry of the ‘90s and the growth is going to be phenomenal. FileNet’s balance sheet is in fine shape with cash and marketable securities exceeding $24 million, while long-term debt is at a minuscule $237,000. Once the economy emerges from the doldrums, we believe FileNet is capable of an annual growth rate of 25% to 30% over the next two to five years.”
-Michael S. Dzialo, analysts, OLDE Discount Stock Brokers, Detroit
Sales vs. Profits (Dollar amounts in millions) ’87 Net Sales: $29.2 Net Profits: $1.4 ’88 Net Sales: $52.1 Net Profits: $6.9 ’89 Net Sales: $63.2 Net Profits: $1.4 ’90 Net Sales: $83.1 Net Profits: $3.0 ’91 Net Sales: $102.9 Net Profits: $3.8
Corporate Outlook: “Market projections expect a jump from the current $1 billion to $25 billion by mid-19902. The recession certainly impacted us, but we will continue to be a leader in the marketplace; we are the company who developed the market.”
-Mark St. Clare, chief financial officer
5-YEAR SUMMARY: RETURN ON STOCKHOLDER INVESTMENT
FISCAL YEAR ENDING DEC. 31, ’86 DEC. 31, ’87 52-Week High* N/A $21.50 52-Week Low* N/A $10.75 Price Per Share N/A $12.25 Net Earnings (Loss) Per Share $0.17 $0.75 Price to Earnings Ratio N/A 16:1 Average Return to Investor 6% 16%
FISCAL YEAR ENDING DEC. 31, ’88 DEC. 31, ’89 52-Week High* $16.50 $13.75 52-Week Low* $6.50 $7.50 Price Per Share $8.25 $11.00 Net Earnings (Loss) Per Share $0.14 $0.29 Price to Earnings Ratio 59:1 38:1 Average Return to Investor 2% 5%
FISCAL YEAR ENDING: DEC. 31, ’90 52-Week High*: $21.50 52-Week Low*: $5.00 Price Per Share: $8.50 Net Earnings (Loss) Per Share: $0.37 Price to Earnings Ratio: 23:1 Average Return to Investor: 6% * FileNet Corp. was privately held until July, 1987, when it began trading publicly.
For more information call or write FileNet Corp., 3565 Harbor Blvd., Costa Mesa, CA 92626. (714) 966-3577
Source: FileNet Corp., Newport Securities
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