| Ticker: SMXC | Rural Route #5 | |
| Exchange: NASDAQ-National Market | Fort Dodge, Iowa 50501 | |
| Industry: Transportation | (515) 576-7418 |
| Type of Shares: | Class A Common Shares | Filing Date: | 3/16/95 | |
| U.S. Shares: | 2,150,000 | Offer Date: | 6/27/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 1,500,000 | Offer Price: | $8.50 | |
| Secondary Shares: | 650,000 | Gross Spread: | $0.60 | |
| Offering Amount: | $23,650,000 | Selling: | $0.34 | |
| Expenses: | $1,000,000 | Reallowance: | $0.10 | |
| Shares Out After: | 4,999,293 |
| Manager | Tier | Phone |
| Morgan Stanley & Co. Incorporated | Lead Manager | (212) 703-4797 |
| A.G. Edwards & Sons, Inc. | Co-manager | (314) 289-3000 |
| Alex. Brown & Sons Incorporated | Co-manager | (410) 727-1700 |
| George K. Baum & Company | Co-manager | (816) 283-5332 |
| Morgan Keegan & Company, Incorporated | Co-manager | (901) 524-4100 |
| Auditor: KPMG Peat Marwick | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $77.34 | $19.86 | $18.27 | Assets: | $45.97 |
| Net Income: | $3.09 | $0.51 | $0.81 | Liabilities: | $37.81 |
| EPS: | $0.88 | $0.15 | $0.23 | Equity: | $8.16 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Smithway is a truckload carrier that transports diversified manufactured and processed products, concentrating primarily on the flatbed segment of the truckload market. The Company uses its Smithway Network" of computer-connected field offices, commission agencies, and Company-owned terminals to offer comprehensive truckload transportation services to shippers located predominantly between the Rocky Mountains in the West and the Appalachian Mountains in the East, and eight in Canadian provinces. Management believes the Company's transportation capability and reputation for safety and reliability have made it a primary provider of transportation services, or "core carrier", to major customers such as York International, Goodyear, LTV Steel, and General Electric. Smithway's objective is to accelerate the expansion of its operations to take advantage of growth opportunities resulting from the industry trend of shippers utilizing larger, better-capitalized carriers, while maintaining profitability and premium service standards. |
| Use of Proceeds |
| Proceeds from the offering will be used to reduce indebtedness. |
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