Keane The leading y2k service provider Message Board

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Technology Stocks : Keane The leading y2k service provider

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To: paul e thomas who wrote ()	12/22/1999 8:16:00 PM
From: Surprise	Read Replies (2) of 1316

RESEARCH ALERT - Lehman cuts Keane Inc. estimates NEW YORK, Dec 22 (Reuters) - Lehman Brothers analyst Karl Keirstead said Wednesday he was lowering his fiscal 2000 earnings estimate for software services provider Keane Inc. to 90 cents per share from $1.05. said he is lowering his fourth quarter revenue estimate to $217 million from $221 million, and cutting his fourth-quarter earnings estimate 14 cents a share from 15 cents. said he is lowering his fiscal 2000 revenue estimate to $944 million from $966 million. said Keane continues to suffer from a Y2K-induced demand slowdown as well as internal challenges. said he expects only modest sequential growth in Keane's "e-business" services unit, which represents just 10 percent of revenues. said that at 39 times the 2000 earnings per share estimate, and 2.7 times the estimate for 2000 revenues, he believes Keane shares are overvalued. reiterated his neutral rating on the stock. Shares of Keane were off 1-3/4 at 33-1/4 on the American Stock Exchange. 11:27 12-22-99

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