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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): May 26, 1999
Keane, Inc.
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(Exact Name of Registrant as Specified in Charter)
Massachusetts
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(State or Other Jurisdiction of Incorporation)
1-7516 04-243-7166
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(Commission File Number) (I.R.S. Employer Identification No.)
TEN CITY SQUARE
BOSTON, MASSACHUSETTS 02129
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(Address of Principal Executive Offices) (Zip Code)
(617) 241-9200
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(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS.
On May 16, 1999, the Registrant's Board of Directors authorized the
Registrant to repurchase up to one million shares of its common stock over the
next 12 months. The timing and amount of shares repurchased will be determined
by the Registrant's management based on its evaluation of market and economic
conditions.
A copy of the press release announcing this repurchase program is attached
as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements of Businesses Acquired
Not Applicable.
(b) Pro Forma Financial Information
Not applicable.
(c) Exhibits
Exhibit 99 Press Release regarding announcement of share
repurchase program, dated May 27, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
KEANE, INC.
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(Registrant)
Date: May 28, 1999 By: /s/ John F. Keane, Jr.
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John F. Keane, Jr.
Executive Vice President
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EXHIBIT INDEX
Exhibit
Number Description
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99 Press Release regarding announcement of share repurchase
program, dated May 27, 1999.
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EXHIBIT 99
KEANE ANNOUNCES SHARE REPURCHASE PROGRAM
BOSTON, May 27, 1999 - Keane, Inc. (AMEX: KEA) announced today that its
Board of Directors, at its regularly scheduled meeting held on May 26, 1999, has
authorized the Company to repurchase up to one million shares of its common
stock over the next 12 months. The Company believes that its stock is
significantly undervalued, and therefore the repurchase of common stock
represents a highly attractive investment opportunity. The timing and amount of
shares repurchased will be determined by the Company's management based on its
evaluation of market and economic conditions. The Company reported that the
repurchased shares will be used for the Company's stock option plans, employee
stock purchase and other stock benefit plans, and for general corporate
purposes.
Headquartered in Boston, Massachusetts, Keane, Inc. is a $1 billion firm
that helps companies plan, build and manage application software to achieve
business advantage. Keane does this by adhering to rigorous process and
management disciplines and performance metrics incorporated in its core IT
solutions. Keane's services include operations improvement consulting, e-
solutions, customer relationship management (CRM), data warehousing, custom
application development, and application outsourcing. These services are
delivered through a network of more than 50 branch offices in North America and
the United Kingdom. Information about Keane is available via www.keane.com or
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via Shareholder Direct at 1-800-75-KEANE.
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This release contains a number of forward-looking statements concerning the
company's current expectations as to future growth. Actual results may differ
materially depending on the various factors set forth under the caption "Certain
Factors That May Affect Future Results" in the company's annual report or Form
10-K for the year ended December 31, 1998, which important factors are
incorporated herein by reference. Such factors include business conditions, the
successful completion of software development or management projects, the
availability of professional staff and various other factors which involve risk
and uncertainty.
