| Ticker: FINE | 3 Greenwich Office Park | |
| Exchange: NASDAQ-National Market | Greenwich, Connecticut 06831 | |
| Industry: Retail | (203) 629-4320 |
| Type of Shares: | Common Shares | Filing Date: | 4/1/96 | |
| U.S. Shares: | 4,030,000 | Offer Date: | 6/19/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,890,218 | Offer Price: | $12.00 | |
| Secondary Shares: | 1,139,782 | Gross Spread: | $0.84 | |
| Offering Amount: | $52,390,000 | Selling: | $0.49 | |
| Expenses: | $1,050,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,034,600 |
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | 4156272220 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7402 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/27/96 | 3/29/95 | 3/27/96 | ||
| Revenue: | $95.46 | $24.16 | $23.43 | Assets: | $73.76 |
| Net Income: | $2.20 | $0.26 | $0.21 | Liabilities: | $62.79 |
| EPS: | $0.39 | -$0.22 | $0.04 | Equity: | $10.97 |
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 contract food service management company, providing food and beverage concession and catering services. The company targets four distinct markets within the contract food service industry: the recreation and leisure market; the convention center market; the education market; and the corporate dining market. The company is the exclusive provider of food and beverage services at substantially all of the facilities it serves. The company estimates that the United States contract food service industry had annual revenues of approximately $96 billion in 1995, of which approximately $60 billion was in markets in which the company presently competes. In this industry, the facility owner, rather than the food service provider, is primarily responsible for attracting patrons. As a result, the company does not incur the expense of marketing to the broader public and is able to focus on operation, client satisfaction, account retention and new account development. |
| Use of Proceeds |
| The proceeds from the offering will be used to repay outstanding debt, repurchase outstanding warrants, for potential acquisitions and for working capital and for general corporate purposes. |
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