| Ticker: HMTT | 1055 Page Avenue | |
| Exchange: NASDAQ-National Market | Fremont, California 94538 | |
| Industry: Manufacturing | (510) 490-3100 |
| Type of Shares: | Common Shares | Filing Date: | 1/22/96 | |
| U.S. Shares: | 8,400,000 | Offer Date: | 3/13/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 8,400,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.68 | |
| Offering Amount: | $100,800,000 | Selling: | $0.39 | |
| Expenses: | $1,400,000 | Reallowance: | $0.10 | |
| Shares Out After: | 38,056,057 |
| Manager | Tier | Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| Alex. Brown & Sons Incorporated | Co-manager | (410) 727-1700 |
| Salomon Brothers Inc. | Co-manager | (212) 783-2947 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/95 | 12/31/95 | 12/31/94 | 12/31/95 | ||
| Revenue: | $72.89 | $129.36 | $58.07 | Assets: | $117.96 |
| Net Income: | -$8.94 | $34.41 | -$2.29 | Liabilities: | $186.24 |
| EPS: | -$0.26 | $0.99 | -$0.07 | Equity: | -$68.29 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company supplies high-performance thin film disks for high-end, high capacity hard disk drives used in personal computers, network servers and workstations. The disks currently being shipped by the Company are for disk drives with storage capacities ranging from 1.6 to 9 gigabytes, and all have coercivity levels of 1900 Oe or higher. Since March 1994, the Company has focused on addressing the needs of this high-end, high-capacity segment of the disk drive market. HMT believes that its recent operating results reflect its success in meeting these needs and that its future growth and success depend on its ability to continue to develop and market products that enable its customers to produce high-performance disk drives for high-end data storage applications. The Company currently focuses all of its production capacity on 3.5-inch disks to Maxtor Corporation, Western Digital Corporation, Micropolis Corporation, Quantum Corporation, Iomega Corporation and Hewlett-Packard Company. |
| Use of Proceeds |
| The company expects to use approximately $50.0 million of the net proceeds of this offering to repay the principal balance of the senior bank term loan, which bears interest at LIBOR plus 3.0%, and the remainder of the net proceeds for capital expenditures, including investment in facilities and equipment, working capital and other general corporate purposes. |
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