Troubled Keane Posts Lower Financials

Still struggling to put recent management turmoil in its wake, Keane Associates Wednesday posted a decrease in revenues and net income for the third quarter ended Sept. 30.

The IT and business services vendor said revenues were $232 million, representing a decrease of 3.2 percent from the $239.6 million in revenues it reported in the previous year's third quarter. Net income dropped 5.4 percent in the period to $8.4 million from $8.9 million.

In May, former CEO Brian Keane was forced out after sexual harassment allegations were leveled against him. He denied the claims. The company remains without a CEO.

John Leahy, interim president and chief executive officer and executive vice president and chief financial officer, tried to put a positive spin was put on the situation in the financial report Wednesday. "We have a team of seasoned, senior leaders with a track record of success and resiliency," Leahy said in the document. "I am confident in our new executive team and in their ability to help to position our company for a strong 2007."