| Ticker: IMRS | 26750 U.S. Highway 19 North | |
| Exchange: NASDAQ-National Market | Clearwater, Florida 34621 | |
| Industry: High-Tech | (813) 797-7080 |
| Type of Shares: | Common Shares | Filing Date: | 9/13/96 | |
| U.S. Shares: | 3,500,000 | Offer Date: | 11/7/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,950,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 550,000 | Gross Spread: | $0.98 | |
| Offering Amount: | $42,000,000 | Selling: | $0.55 | |
| Expenses: | $1,000,000 | Reallowance: | $0.10 | |
| Shares Out After: | 13,919,490 |
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | (415) 627-2220 |
| Alex. Brown & Sons Incorporated | Co-manager | (410) 727-1700 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $22.70 | $12.40 | $10.58 | Assets: | $9.84 |
| Net Income: | $1.61 | $0.94 | $0.98 | Liabilities: | $6.98 |
| EPS: | $0.12 | $0.08 | Equity: | $2.86 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Information Management Resources, Inc. provides applications software outsourcing solutions for the information technology departments of large businesses with intensive information processing needs. The company's services, which generally are offered on a fixed-price, fixed-time frame basis, include software development, application maintenance, Year 2000 conversion and migration and re-engineering services. In addition, the company offers programming and consulting services on a time-and-materials basis in order to optimize employee utilization and provide a potential source of future outsourcing contracts. The company's services, which it terms "transitional outsourcing" assist clients in the maintenance of mainframe based legacy applications and in the transition from legacy systems to open architecture, client/server and other emerging technologies. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for i) purchase of minority interest in IMR-India ii) repayment of debt iii) payment of undistributed S Corporation earnings and iv) general corporate purposes and working capital, which may include future acquisitions. |
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