Revenues, Profits Up at FileNet, Digital River

FileNet and Digital River both report a fourth-quarter increase in revenue and income.

Enterprise content management software developer FileNet Corp. continued to report strong financial performance Wednesday, announcing an increase in both revenues and net income for the fourth quarter.

The Costa Mesa, Calif., company saw revenues climb to $89.4 million from $86.7 million in the same period last year, led by a surge in software license revenues, from $30.6 million to $36.4 million.

FileNet turned a $3.8 million profit on those revenues, up from $1.9 million in the same period of 2001.

The company, which released its integrated P8 architecture last week, claims to have increased its ECM market share to 18.7 percent in 2002.

In other earnings news Wednesday, e-commerce services provider Digital River Inc. also enjoyed a revenue and income increase. Fourth-quarter revenues were up to $21.5 million from $17.7 million in the fourth quarter of 2001.

Digital Rivers Software Services business led the revenue increase, as it surged from $14.3 million to $18 million year-to-year. E-Business Services revenue was up only slightly, from $3.4 million to $3.5 million.

The Minneapolis-based company reported a profit of $3.3 million after losing $3.5 million in the prior year period.