| Ticker: ICTSF | Binderij 7G | |
| Exchange: NASDAQ-National Market | Amstelveen, Foreign 1185 ZH | |
| Industry: Transportation | 1206438449 |
| Type of Shares: | Common Shares | Filing Date: | 3/5/96 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 6/26/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $10.00 | |
| Primary Shares: | 1,400,000 | Offer Price: | $7.00 | |
| Secondary Shares: | 600,000 | Gross Spread: | $0.49 | |
| Offering Amount: | $18,000,000 | Selling: | $0.28 | |
| Expenses: | $1,886,000 | Reallowance: | $0.10 | |
| Shares Out After: | 5,400,000 |
| Manager | Tier | Phone |
| Unterberg Harris | Lead Manager | (212) 888-5609 |
| Josephthal Lyon & Ross, Inc. | Co-manager | (212) 907-4564 |
| Auditor: Shachak Peer Rezick & Co. | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $29.83 | $7.54 | $6.25 | Assets: | $14.57 |
| Net Income: | $1.11 | $0.26 | $0.07 | Liabilities: | $10.52 |
| EPS: | $0.28 | $0.07 | $0.02 | Equity: | $4.05 |
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 provider of enhanced aviation security services, primarily serving the European operations of the major U.S. carriers. The company's principal service is the implementation of passenger risk evaluation and classification procedures, generally described as "profiling." The company is also engaged in security consulting, training and auditing for airlines and airports and in the provision of other security services. In 1995, the company directly serviced more than 75,000 flights for 45 airlines at 34 locations in 12 countries. The company's profiling procedures, which are intended to identify potential threats to aviation security before "at risk" situations develop, are modelled after concepts developed in Israel during early 1970's for Ben Gurion International Airport and El Al in response to recurring terrorist threats. Certain of the company's founders actively participated in the design and provision of security for those Israeli entities during that period and thereafter adapted and introduced profiling to U.S. and European airlines and airports. The profiling procedures are performed by deploying trained security personnel, who interview passengers, inspect their luggage, and monitor and restrict access to aircraft and other vulnerable areas. |
| Use of Proceeds |
| The proceeds from the offering will be used to repay debt and for general corporate purposes, including financing the company's expansion and upgrade operating facilities, customer service and training programs. |
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