| Ticker: IIII | 5568 Airport Road | |
| Exchange: NASDAQ-National Market | Roanoke, Virginia 24012 | |
| Industry: Manufacturing | (540) 362-2020 |
| Type of Shares: | Common Shares | Filing Date: | 12/26/95 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 3/14/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.70 | |
| Offering Amount: | $30,000,000 | Selling: | $0.40 | |
| Expenses: | $900,000 | Reallowance: | $0.10 | |
| Shares Out After: | 9,526,331 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 640-6129 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 576-3423 |
| Schroder Wertheim & Company, Incorporated | Co-manager | (212) 492-6900 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $6.44 | Assets: | $13.53 | ||
| Net Income: | -$9.98 | Liabilities: | $7.54 | ||
| EPS: | -$1.70 | Equity: | $5.98 | ||
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 leader in the development, manufacture and sale of lens casting fabrication systems that enable optometrists, opticians, and other optical retailers to custom fabricate high quality multifocal and single vision plastic eyeglass lenses. The company's system (the "Excalibur System"), which is based upon its patented Surface Casting technology, is capable of fabricating millions of different lenses of various styles, materials and prescriptions that the company believes constitute a substantial majority of the standard hard plastic multifocal and single vision prescriptions generally dispensed. As of February 29, 1996 the company sold over 570 Excalibur Systems worldwide since the Excalibur System was introduced in May 1993. Excalibur Systems are used by several large optical retailers such as National Vision Associates Ltd., which operates in Wal-Mart Stores, Inc., and Vision Express UK Ltd., as well as numerous independent optometrists, opticians and ophthalmologists. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to fund increases in inventory levels, purchases of capital equipment and tooling, development of new products and expansion of sales and marketing efforts and for working capital and other general corporate purposes. |
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