Keane, Inc. Reports Revenues Up 96% And Net Income Up 79% For The Year 1994

Business Wire, Feb 6, 1995

BOSTON--(BUSINESS WIRE)-- February 6, 1995--Keane, Inc. (AMEX:KEA) reported earnings and revenues today for the Fourth Quarter and fiscal year ending December 31, 1994. Revenues for the Fourth Quarter were $86,217,000, up 85% from $46,706,000 last year. Pretax income for the Fourth Quarter was $7,026,000, up 62% from $4,347,000 in 1993, while net income increased 57% to $4,177,000 versus $2,658,000 a year ago. Earnings per share rose to $.28 on 15,053,443(aa) shares as compared to $.19(a) on 13,716,683 shares in 1993.

For the year 1994, revenues were $344,583,000, up 96%. Pretax income rose to $28,479,000, up 83%, while net income was $16,234,000, an increase of 79% versus 1993. Earnings per share for 1994 rose to $1.15 on 14,161,500(aa) shares as compared to $.76(a) on 11,897,817 shares a year ago.

"The primary reasons for Keane's increase in earnings and revenues are the successful integration of AGS, acquired in January and a more favorable economic climate," explained company President John F. Keane. "Increasing our market share and broadening our local distribution network through acquisitions enable us to deliver software solutions cost effectively and reliably."

Keane

Keane, Inc. is a software services company that designs, develops and manages software for corporations and healthcare facilities. Headquartered in Boston, Massachusetts, the company delivers software solutions cost-effectively and reliably through its network of 40 branch offices in the United States and Canada.