KEA meets estimates: biz.yahoo.com
Here's my favorite part:
"The company noted that revenues from its Year 2000 business were less than expected in the latest quarter. ''By continuously improving our Y2K methods, we are helping our client's to complete their Y2K efforts faster than we originally anticipated,'' said John F. Keane, chief executive officer and chairman of the board, Keane, Inc.
''Our non-Year 2000 revenue, however, continues to grow strongly, up 32 percent to $205 million in the first quarter of 1999 compared to the year-ago quarter. Importantly, our non-Y2K revenues are at least as profitable as our Y2K revenues. We are confident that our non-Y2K revenues will continue to increase 30-35 percent during 1999 as compared to 1998.''
The company also announced that it was revising the earnings per share (diluted) estimates for the entire year of 1999. ''On the basis of information available to date, we are estimating a range of between $1.68 and $1.75 for full-year earnings per share from operations, depending on several factors, including the rate of decline within our Y2K business, growth in our non-Y2K business, and the general state of the economy,'' Keane said. Total revenues in 1999 are estimated between $1.100 billion to $1.200 billion versus $1.076 billion for 1998. |
