8-K 1 prelim2q.htm Q2 PRELIMINARY PRESS RELEASE FileNet Announces Preliminary Second Quarter Results

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                          SECURITIES AND EXCHANGE COMMISSION


                                Washington, D.C. 20549
                                                      



                                       FORM 8-K


                                    CURRENT REPORT

                        PURSUANT TO SECTION 13 OR 15(D) OF THE
                          SECURITIES AND EXCHANGE ACT OF 1934

                                     July 7, 2003
                   Date of Report (Date of earliest event reported)

                                                      


                                   FILENET CORPORATION

                (Exact name of registrant as specified in its charter)


          Delaware                        000-15997                    95-3757924
 (State or other Jurisdiction      (Commission File Number)          (IRS Employer
      of Incorporation)                                          Identification Number)

    3565 Harbor Boulevard                                                 92626
    Costa Mesa, California                                             (Zip Code)
    (Address of principal
     executive offices)

                                    (714) 327-3400
                 (Registrant's telephone number, including area code)

                                          N/A
             (Former Name or Former Address, if Changed Since Last Report)

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Item 7.  Financial Statements and Exhibits.

     (c)  Exhibits

Exhibits:   Description of Document
  99.1      Press Release dated July 7, 2003.


Item  9. Regulation FD Disclosure (Information provided under Item 12--Disclosure
         of Results of Operations and Financial Condition).

     Pursuant to Securities and Exchange  Commission Release No. 33-8216,  dated
March 27, 2003, the information provided herein is being furnished under Item 12
of Form 8-K.

     On July 7,  2003,  we issued a press  release,  which  sets  forth  certain
preliminary  results of our  operations  for the quarter  ended June 30, 2003. A
copy of the press release is attached hereto as Exhibit 99.1 and is incorporated
herein by reference.  Such information  shall not be deemed "filed" for purposes
of Section 18 of the  Securities  Exchange Act of 1934,  as amended,  and is not
incorporated by reference into any filing of the company, whether made before or
after the date hereof,  regardless of any general incorporation language in such
filing.

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                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                          FILENET CORPORATION


Date:    July 7, 2003
                                          By:    /s/  Sam A. Auriemma          
                                          Name:  Sam M. Auriemma
                                          Title: Chief Financial Officer and
                                                 Senior Vice President, Finance


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EXHIBIT INDEX

Exhibits:        Description of Document
  99.1           Press Release dated July 7, 2003.


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                                                                    Exhibit 99.1

                                                      [FileNet Corporation Logo]
FOR IMMEDIATE RELEASE

                          FileNet Announces Preliminary
                        Second Quarter Financial Results


COSTA MESA,  Calif. - July 7, 2003 - FileNet  Corporation  (Nasdaq:  FILE) today
announced  preliminary  financial  results for the second quarter ended June 30,
2003.

The company expects to report total revenue of approximately  $85 million versus
company  guidance of $90.0 million for the second quarter.  Software  revenue is
expected to be approximately $32.0 million. Earnings per share, on a GAAP basis,
are expected to be between $.01 and $.03 a diluted share versus company guidance
of between $.04 and $.06.  Cash and investments at June 30, 2003 are expected to
be approximately $205 million with no long-term debt.

"Results  for the  quarter  were  largely  impacted  by the delay or deferral of
several large  transactions,"  stated Lee Roberts,  FileNet's  chairman and CEO.
Despite  this we  continue  to see  positive  indications  that our  strategy of
expanding our leadership position in the Enterprise Content Management market is
on target. We believe market  acceptance,  interest and demand for ECM continues
to increase and we remain  optimistic  about our market  position and  long-term
prospects."

Conference Call - Today

FileNet  will hold a brief  conference  call  today at 7:00 am  Pacific  Time to
discuss preliminary results. To listen to the call live, dial (888) 821-2773. To
listen to the replay, dial (800) 642-1687 or (706) 645-9291. The conference call
ID number is  1635085  for all calls.  A replay of the audio will be  available,
beginning  at 9:00 a.m. PT on July 7, 2003,  through  midnight PT July 14, 2003.

Conference Call - July 23, 2003

The company  emphasized that the results are preliminary and that actual results
could vary when the company  reports  final  earnings for the second  quarter on
July 23, 2003 at 7:00 am Pacific  Time.  To listen to the call live,  dial (888)
821-2773  or (706)  634-7555.  To listen to the replay,  dial (800)  642-1687 or
(706) 645-9291. The conference call ID number is 1272665 for all calls. The call
will be broadcast  live over the Internet.  To listen to the live audio Web cast
via the Internet,  please follow the instructions  that will be available on the
investor     relations'     section     of     FileNet's     Web     site     at
http://www.filenet.com.


About FileNet
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

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sustain   competitive   advantage   by   managing   content   throughout   their
organizations,   automating  and  streamlining  their  business  processes,  and
providing the  full-spectrum  of connectivity  needed to simplify their critical
and everyday decision-making.

FileNet ECM solutions deliver a comprehensive 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 3,900  organizations,  including
80 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(R)Partner
network of resellers, system integrators and application developers.

Safe Harbor  Statement  under the Private  Securities  Litigation  Reform Act of
1995:  This release  contains  forward-looking  statements that are based on our
current  expectations,  estimates  and  projections  about our  business and our
industry,  management's  beliefs  and  certain  assumptions  made  by us.  These
forward-looking statements relate to our estimated revenue and earnings results,
cash  position  and DSO's for the  quarter  ended June 30,  2003;  our  business
strategy;  the  condition  of the ECM market and our business  prospects.  These
statements are not guarantees of future  performance  and are subject to certain
risks,  uncertainties and assumptions that are difficult to predict.  Therefore,
our actual results could differ materially and adversely from those expressed in
any forward-looking statements as a result of various factors.

Important factors that may cause such a difference for FileNet include,  but are
not limited  to, our  continuing  assessment  of our  financial  results for the
second  quarter of 2003,  the  volume of our sales and  pricing  concessions  on
volume sales; our ability to specify, develop or acquire,  complete,  introduce,
market,  distribute and gain market acceptance for new products and technologies
in a timely  manner;  the mix of products and  services  sold by us; the timing,
rescheduling or cancellation of significant  customer orders;  the loss of a key
customer;  our  ability  to control  expenses;  announcements  of  technological
innovations,  new  products  or  product  enhancements  by  the  company  or its
competitors;  the emerging nature of the Enterprise  Content  Management market;
key management  changes;  changes in joint marketing and  development  programs;
developments  relating  to  patents  or other  intellectual  property  rights or
disputes;  changing  relationships with customers,  distributors,  suppliers and
strategic partners;  potential  contractual or employment issues; our ability to
integrate acquired  businesses;  and general conditions in the worldwide economy
and the software/technology  sector and other factors. Our Annual Report on Form
10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K
and  other  Securities  and  Exchange  Commission  filings  discuss  some of the
important  risk factors that may affect our business,  results of operations and
financial condition. We undertake no obligation to revise or update publicly any
forward-looking statements for any reason.

Investor Contact:
Greg Witter
FileNet Corporation
Phone: 714-327-3405
Email: gwitter@filenet.com

Media Contact:
Tom Hennessey
FileNet Corporation
Phone: 714-327-5050
Email: thennessey@filenet.com

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