| Judge Group, Inc. The | |||
| Ticker: | JUDG | Two Bala Plaza, Suite 800 | |
| Exchange: | NASDAQ-National Market | Bala Cynwyd, PA 19004 | |
| Industry: | Financial (SIC Code 6719) | (610) 667-7700 | |
| Type of Shares: | Common Shares | Filing Date: | 9/30/96 | |
| U.S. Shares: | 3,650,000 | Offer Date: | 2/14/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $7.50 | |
| Secondary Shares: | 650,000 | Gross Spread: | $0.53 | |
| Offering Amount: | $36,500,000 | Selling: | $0.30 | |
| Expenses: | $1,100,000 | Reallowance: | $0.10 | |
| Shares Out After: | 13,042,737 |
| Manager | Tier | Phone |
| Janney Montgomery Scott | Lead Manager | (215) 665-6520 |
| Unterberg Harris | Co-manager | (212) 572-8060 |
| Issuer's Law Firm: | Drinker Biddle & Reath |
| Bank's Law Firm: | Saul, Ewing, Remick & Saul |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $63.30 | $37.33 | $29.40 | Assets: | $15.02 |
| Net Income: | $0.49 | $0.18 | -$0.17 | Curr Assets: | |
| EPS: | $0.05 | $0.02 | -$0.02 | Liabilities: | $14.62 |
| Prior EPS: | $0.04 | Curr Liabilities: | |||
| Cash Flow/Oper: | Equity: | $0.40 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company's Contract Placement business provides technical consultants skilled in a variety of fields, such as applications programming and development, client/server technology, legacy systems conversion and software architecture and design. The company also provides data communications, systems engineering, Internet/Web-Site design, project consulting and Help Desk management. The company provides technical consultants in the MidAtlantic and New England regions of the United States through three branch offices, and on a nationwide basis through its National Division. The company maintains a database of over 100,000 technical consultants, and in 1995 provided over 1,200 technical consultants to more than 400 clients. By relying on contract consultants, clients with complex technical requirements can reduce the costs associated with recruiting, training and relocating employees as those requirements change. According to Staffing Industry Report, revenues from technical/computer temporary staffing are estimated to have grown from $5.7 billion in 1993 to $9.2 billion in 1995 and are expected to grow $11.4 billion in 1996, representing a 26.0% compound annual growth rate. |
| Competition |
| The IT professional services industry is highly competitive and fragmented on the local, regional and national levels. Although the company is not aware of any competitors that offer a full range of technical staffing, imaging, document management, consulting and training services, many companies offer one or two of the company's services in all of the geographical markets in which the company currently operates. Many of the company's competitors have significantly greater name recognition and financial, technical and other resources and generate greater resources than the company. |
| Business Plan |
| The company's objective is to become a leading nationwide provider of IT and engineering professional services. Key elements of the company's business strategy include: 1) offering a single source of technical solutions; 2) aggressively marketing a broad range of service; 3) develop a national presence; 4) expanding imaging and network services business; 5) capitalizing on IT training resources; 6) pursuing strategic acquisitions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of certain indebtedness, payment of portions of the purchase of the purchase prices of recently completed acquisitions, and for working capital and general corporate purposes, including the establishment of a corporate level sales force. |