Success at Keane means "making a difference" to our client companies. The year 1987 was orte in which Keane personnel. intensified efforts to make such a difference. Revenues for the year were $43,505,000 as compared to $40,396.000 in 1996. Net income was $883.000, or 64 cents per share, versus $283,000, or 21 cents per share a year ago
Keane focused on three goals during 1987: 1. Concentration of resources in businesses offering the highest return, 2. Attainment of "critical mass" within each market served, 3. Molding a service organization responsive to the changing needs of our clients
Information Services Division (ISD)
During the year, ISD increased profitability by 39% over 1986. The division acquired Pro Systems in the Baltimore/Washington area, and concluded an agreement with Trigon Con-sultants, which added to the division's technical and management strengths in Philadelphia and New Jersey. These acquisitions followed that of Reden Consultants, which in 1986 add-ed "critical mass" to our Midwest operation in Chicago and Minneapolis, ISD also achieved im pressive growth in Connecticut, New Hampshire and Maine, a direct result of aggressive sales ef forts and good management
Responding to the critical need of client companies, Keane continued to emphasize its project management services. During 1987. Keane trained more than 1,400 client personnel in the company's proprietary Productivity Management (PM) methodology, and over 700 client personnel in our unique Project Manager Development Program (PMDP)
KeaMed Division
KeaMed concentrated its resources on marketing its successful Wang/VS family of hospital software, while phasing down marketing of software for the IBM System/38 and System/36 computers. This focus helped the division continue its 12 year unbroken record of profitability. KeaMed also adopted a niche marketing strategy during the year concentrating on hospitals with special needs for customized software, and/or those requiting on-site Extended Operations Support
Technical Training
In order to be more responsive to the escalating need for advanced data base skills, the company launched a major training program for technical employees during the year, Keane's staff responded enthusiastically with over 50% of our technical personnel currently participating in the DB2 phase of this program,
This year, Keane graduated 70 new employees from its Advanced Technical Development Program. This innovative and intensive education program trains employees in advanced technical subjects. The result: Keane can continue to offer cost-effective skills to clients, while at the same time contributing to the career path of employees: We anticipate the number of graduates from this program to increase over the next several years.
In conclusion, we are confident that our efforts during 1987 are making a difference. This difference will help Keane to grow, to continue to deliver high quality computer services, and at the same time enhance Keane's ability to attract and retain the best professionals in the industry. We look forward with confidence to an excellent year in 1988
Yours truly,
John F. Keane President
Annual Report