Keane Inc, Boston-based IT consulting firm, has reported first- quarter net income up 32.5% at $30.2m on revenue up 23.9% at $285m. Earnings per share rose 31.3% to $0.42, matching the consensus estimate of analysts surveyed by First Call. Keane said that revenue from its Y2K business was less than anticipated for the quarter, and downwardly revised full year estimates to account for the rate of decline in that business. The company now expects to see earnings of between $1.68 and $1.75 for the year, where analysts had been expecting $1.82 per share. But Keane pointed out that equally-profitable non-Y2K revenue rose 32% to $205m in the quarter and is expected to continue growing at 30% to 35% in 1999.
