| Ticker: ULTD | 5020 Franklin Drive | |
| Exchange: NASDAQ-National Market | Pleasanton, California 94588-3354 | |
| Industry: High-Tech | (510) 463-8356 |
| Type of Shares: | Common Shares | Filing Date: | 12/22/95 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 2/15/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 1,650,000 | Offer Price: | $18.00 | |
| Secondary Shares: | 850,000 | Gross Spread: | $0.70 | |
| Offering Amount: | $25,000,000 | Selling: | $0.42 | |
| Expenses: | $850,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,392,000 |
| Manager | Tier | Phone |
| Salomon Brothers Inc. | Lead Manager | (212) 783-2947 |
| Volpe, Welty & Company | Co-manager | (415) 956-8120 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $31.13 | Assets: | $15.14 | ||
| Net Income: | $0.33 | Liabilities: | $13.62 | ||
| EPS: | $0.06 | Equity: | $1.52 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a leading supplier of on-line information processing systems for the credit union market. The company's core ULTRAFIS system, together with its array of complementary application modules, provides an open architecture, fully integrated on-line information processing system with advanced database management capabilities that supports financial services such as checking, savings and investment accounts, credit and debit cards, ATM access and consumer lending. The ULTRAFIS system is primarily targeted at large and mid-sized credit unions and is currently installed and used as an in-house solution by over 150 credit unions, which together have over four million members. The company's products provide networking independence and run on a broad range of industry leading UNIX hardware platforms. |
| Use of Proceeds |
| The company anticipates that, of the net proceeds of the offering, approximately $1.0 million will be used for repayment of indebtedness under its revolving line of credit, which bears interest at the banks prime rate plus 1.5%; approximately $168,000 will be used for repayment of indebtedness under a term note, which bears interest at the bank's prime rate plus 0.5% and is payable in quarterly installments through June 1996; approximately $2.0 million will be used in connection with the hiring and training of new personnel and approximately $2.0 million will be used in connection with the hiring and training of new personnel and approximately $1.0 million will be used for capital expenditures relating to the hiring of such new personnel and other operations. |
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