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Tech Industry

Keane shares slide on loss

Shares of business and information technology consulting company Keane slid 2 percent to $7.30 on Wednesday after the company posted a larger net loss for the fourth quarter. Keane's fourth-quarter net loss was $6.8 million, or 10 cents per share, compared to a net loss of $3.1 million, or 4 cents per share, for the fourth quarter of 2001. Revenue for the fourth quarter of 2002 was $212.5 million, up 14 percent from the prior-year quarter. Results for the recent quarter include $17.6 million in special charges stemming in part from reductions in work force. Fourth-quarter results in 2001 included a special charge of $10.4 million related to the acquisition of Metro Information Services.

Keane shares fell more than the broader tech market Wednesday. CNET's tech index fell 1.4 percent to 910.12, and the tech-heavy Nasdaq composite index lost 1.3 percent to 1,278.94.