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Keane meets estimates; sales to be flat

Professional services provider Keane reported first-quarter earnings that matched analysts' estimates. The Boston-based company earned $7.3 million, or 14 cents a share, excluding a one-time gain of $4 million from the sale of its Help Desk operations and the write-off of certain investments. Analysts had expected earnings of 14 cents, according to First Call. In the same period in 2000, the company earned $5.5 million, or 10 cents a share. Revenue for the quarter totaled $208.3 million, down from $216.2 million a year ago. Based on its current outlook and taking into account the Help Desk sale and certain office closures, the company projects second-quarter revenue will remain flat, falling between $195 million and $205 million with earnings in the range of 13 cents to 15 cents per share. The company declined to project financial results for full-year 2001 because of continued uncertainty in the market.

Professional services provider Keane reported first-quarter earnings that matched analysts' estimates. The Boston-based company earned $7.3 million, or 14 cents a share, excluding a one-time gain of $4 million from the sale of its Help Desk operations and the write-off of certain investments. Analysts had expected earnings of 14 cents, according to First Call. In the same period in 2000, the company earned $5.5 million, or 10 cents a share. Revenue for the quarter totaled $208.3 million, down from $216.2 million a year ago.

Based on its current outlook and taking into account the Help Desk sale and certain office closures, the company projects second-quarter revenue will remain flat, falling between $195 million and $205 million with earnings in the range of 13 cents to 15 cents per share. The company declined to project financial results for full-year 2001 because of continued uncertainty in the market.