| Ticker: REMX | 32122 Camino Capistrano | |
| Exchange: NASDAQ-National Market | San Juan Capitstrano, California 92675 | |
| Industry: Service | (714) 661-1211 |
| Type of Shares: | Class A Common Shares | Filing Date: | 5/1/96 | |
| U.S. Shares: | 3,100,000 | Offer Date: | 7/10/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 1,938,333 | Offer Price: | $13.00 | |
| Secondary Shares: | 1,161,667 | Gross Spread: | $0.91 | |
| Offering Amount: | $40,300,000 | Selling: | $0.54 | |
| Expenses: | $850,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,733,333 |
| Manager | Tier | Phone |
| Dillon, Read & Co. Inc. | Lead Manager | (212) 906-7000 |
| Robinson-Humphrey Company, Inc., The | Co-manager | (404) 266-6000 |
| Auditor: Price Waterhouse | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 10/1/95 | 3/31/96 | 4/2/95 | 3/31/96 | ||
| Revenue: | $209.00 | $130.11 | $94.43 | Assets: | $41.93 |
| Net Income: | $3.90 | $3.20 | $1.34 | Liabilities: | $18.06 |
| EPS: | $0.52 | $0.43 | Equity: | $23.87 | |
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 clerical and light industrial temporary staffing company. The company currently has a 32 state network of 148 offices, 65 of which it owns and 83 of which are independently managed. During the twelve months ended December 31,1995, the Company placed approximately 93,000 temporary workers, known as "associates", and provided over 24.4 million hours of staffing services to over 13,000 clients. From the beginning of fiscal 1993 through the end of fiscal 1995, the Company added 61 offices and increased revenues and income before taxes at compound annual growth rates of 30.6% and 63.7%, respectively, to $209.0 million and $6.5 million, respectively. The Company has positioned itself to take advantage of trends in the temporary staffing industry, such as increased integration of temporary workers as a significant, long-term workforce component in both manufacturing and service-oriented companies and increased outsourcing by companies of certain staffing functions. |
| Use of Proceeds |
| The proceeds from the offering will be used to finance distributions to the pre-offering shareholders of previously undistributed company earnings for periods prior to the offering, working capital and for general corporate purposes which are expected to include branch network expansion and enhancement of technologies and management information systems. |
©1996 IPO Data Systems, Inc. - All rights reserved.