| Ticker: PRRC | 1505 N.W. 167th Street | |
| Exchange: NASDAQ-National Market | Miami, Florida 33169 | |
| Industry: Service | (305) 626-4600 |
| Type of Shares: | Common Shares | Filing Date: | 5/6/96 | |
| U.S. Shares: | 4,000,000 | Offer Date: | 7/16/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $16.00 | |
| Primary Shares: | 3,600,000 | Offer Price: | $14.50 | |
| Secondary Shares: | 400,000 | Gross Spread: | $1.02 | |
| Offering Amount: | $64,000,000 | Selling: | $0.59 | |
| Expenses: | $600,000 | Reallowance: | $0.10 | |
| Shares Out After: | 20,000,000 |
| Manager | Tier | Phone |
| Dain Bosworth Incorporated | Lead Manager | (612) 371-2711 |
| Furman Selz Incorporated | Co-manager | (212) 309-8200 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $30.20 | $11.65 | $5.91 | Assets: | $15.92 |
| Net Income: | $0.84 | $0.44 | $0.27 | Liabilities: | $12.51 |
| EPS: | $0.05 | $0.03 | Equity: | $3.41 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| PRC is a leading full-service provider of telephone-based marketing and customer service solutions on an outsourced basis to large corporations. Through the integration of its teleservicing, database marketing and management, and fulfillment capabilities, the Company is able to provide a "one-stop" solution to meet its clients' needs. The Company believes that its one-stop solution approach, combined with its sophisticated use of advanced technology, provide a distinct competitive advantage in attracting clients seeking to cost-effectively contact or service prospective or existing customers. The Company's clients include several divisions of AT&T; Corp., British Airways plc, Taco Bell Corp., FTD, Inc. and Anheuser-Busch Companies, Inc. New clients expected to make significant contributions to 1996 revenues include DirecTV, Pizza Hut Inc. and Video Guide. The telephone-based marketing and customer service industry has experienced substantial growth over the past ten years. Telephone-based direct marketing expenditures increased from an estimated $34 billion in 1984 to an estimated $77 billion in 1994. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay debt; pay an S Corporation distribution to current shareholders and for general corporate purposes including call center expansion and working capital. |
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