Business Week Recognizes Keane, Inc. Among World's Best-Performing Information
Technology Companies
PR Newswire, Monday, November 02, 1998 at 09:23
Keane Ranked 28th in the Info Tech 100 Issue
BOSTON, Nov. 2 /PRNewswire/ -- Leading IT consulting firm Keane, Inc.
(AMEX:KEA) has been named by Business Week magazine as one of the world's
best-performing information technology companies in the first annual
Information Technology 100. Keane was ranked 28th in the Nov. 2 issue.
The ranking, based on financial data, identifies those companies that are
the top performers in what is becoming the world's most important industry.
Keane's ranking was based on revenues for the 12-month period ending June 30,
1998. To qualify for the list, companies had to have revenues of at least
$300 million and were ranked based on four criteria: shareholder return,
return on equity, revenue growth, and total revenues. Qualifying companies
were placed in one of eight categories, including software, services,
networking, Internet, computers and peripherals, semiconductors, and
telecommunications services and telecommunications equipment.
"Today's companies are increasingly dependent on information technology,
particularly to gain and sustain competitive advantage," said John F. Keane,
chairman and CEO. "Keane is strongly positioned in what we believe is the
fastest growing segment of IT -- information technology services. Keane's
consistently strong performance is evident of this growing trend and of our
success in helping clients plan, build and manage their application software."
Much of Keane's outstanding performance can be attributed to the growth of its
application outsourcing and year 2000 businesses. Keane's revenues for 1997
were $654 million, up 40 percent from 1996, and net income for 1997 was $46
million, up 81 percent from 1996. Keane recently reported revenues for the
Third Quarter ending Sept. 30, 1998. Revenues were $280.5 million, up 55
percent from 1997. For the first nine months in 1998 Keane's revenues were
$772.1 million, an increase of 57 percent from 1997.
Earlier this year, Keane was chosen by the Wall Street Journal as the best
10-year stock performer from among 1000 corporations listed on its Shareholder
Scoreboard. Additionally, The Boston Globe, in its annual Globe 100, named
Keane best stock performer of the decade and #2 in overall corporate
performance among Massachusetts companies. Newsweek magazine and the Boston
Herald have also recognized Keane's outstanding stock performance in recent
publications. Computerworld magazine recently listed Keane among the Top 25
places to work in information technology.
Headquartered in Boston, Massachusetts, Keane, Inc. is a $1 billion firm
that helps companies plan, build and manage application software to achieve
business advantage. Keane does this by adhering to rigorous process and
management disciplines and performance metrics incorporated in its six core IT
solutions. Keane's world-class services include operations improvement and IT
consulting, application development, application outsourcing, year 2000
compliance, help desk outsourcing, and enterprise healthcare solutions. These
service offerings are delivered through a network of more than 45 branch
offices in North America and the United Kingdom. Information about Keane,
which was named the Wall Street Journal's Best 10-Year Stock Performer, is
available via the Internet's World Wide Web at keane.com.
This release contains a number of forward-looking statements concerning
the company's current expectations as to future growth. Actual results may
differ materially depending on the various factors set forth under the caption
"Certain Factors That May Affect Future Results" in the company's annual
report or Form 10-K for the year ended December 31, 1997, which important
factors are incorporated herein by reference. Such factors include business
conditions, the successful completion of software development or management
projects, the availability of professional staff and various other factors
which involve risk and uncertainty.
SOURCE Keane, Inc.
-0- 11/02/98
/CONTACT: Carol DeMatteo, Public Relations of Keane, Inc., 617-241-9200,
ext. 1293/
/Web site: keane.com
|
