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Technology Stocks : Keane The leading y2k service provider -- Ignore unavailable to you. Want to Upgrade?

To: Kal who wrote (526)	5/12/1998 1:07:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 1316

I agree the sector is down but this is a little more harsh and wide spread IMO. I first noticed a couple weeks ago that many "good companies" were stuck in a range despite positive earnings surprises that hadn't previously been lowered etc. I also noticed that the "defensive stocks" started moving again i.e. Supermarkets, domestic products health care etc. The Tech selloff has been slowly growing and accelerating the last week or so. Look at todays action and the fact that Bonds were over 6% most of the day. I think the funds are shifting out of techs, especially high PE techs quietly and moving into defensive positions. We are slowing bleeding without noticing except for KEA, CPWR etc but the key question is why. Is it because they are finally noticing Asia again, is it the Fed interest rate fears, or are they finally getting wise to the fact that they are paying more for companies with lower earnings expectations. KEA is not dependant on any of these but it would not be the first time they threw out the baby with the bath water. I think we are getting close to a medium scale market pullback since the indexes would already be down if it weren't for the hyped internet stocks, merger mania, and Viagra's holding it up (pardon the pun). I am going to stay in KEA, but I have sold off most of my other holdings. I'm usually bullish but something is wrong in the bull pen. I have been adding to my KEA position but I'm holding some cash for the final sale before the next run back up.

To: Kal who wrote (526)	5/12/1998 10:16:00 AM
From: Jon Siegel	Read Replies (1) \| Respond to of 1316

In Response to Investor Inquiries Keane Reaffirms Strong Business Outlook... On PRNewswire this morning... Tuesday May 12, 8:58 am Eastern Time Company Press Release SOURCE: Keane, Inc. In Response to Investor Inquiries Keane Reaffirms Strong Business Outlook BOSTON, May 12 /PRNewswire/ -- In response to investor inquiries concerning the recent drop in its stock price, management of Keane, Inc. (Amex: KEA - news) today reaffirmed that there are no known issues or changes in the company's business outlook. ''Keane's business continues to be strong,'' said John F. Keane, chairman and CEO for Keane, Inc. ''We are experiencing significant revenue and earnings growth, and backlog of strategic services, including year 2000, application outsourcing and application development, continue to grow.'' During the First Quarter ended March 31, 1998, Keane reported revenues of $209.2 million, up 48 percent as compared to $141.1 million in the First Quarter of 1997. Keane also reported earnings per share of $.28 on 67,976,000 shares, up 95 percent from the First Quarter of 1997. Headquartered in Boston, Massachusetts, Keane, Inc. is an $800 million firm that helps companies build and manage high-performance IT organizations. Keane does this by adhering to rigorous process and management disciplines and performance metrics incorporated in its six core IT solutions. Keane's services include IT consulting, application development, application outsourcing, year 2000 compliance, help desk outsourcing, and enterprise healthcare solutions. These service offerings are delivered through a North American network of more than 40 branch offices. Information about Keane, which was recently named the Wall Street Journal's Best 10-Year Performer, is available via the Internet's World Wide Web at keane.com. This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook for the company's business and results of operations. There are a number of factors that could cause actual results to differ materially from those indicated. Such factors include, without limitation, the various factors set forth under the caption ''Certain Factors That May Affect Future Results'' in Keane's annual report or Form 10-K for the year ended December 31, 1997, which important factors are incorporated herein by reference. SOURCE: Keane, Inc.