| Ticker: SMMT | 9305 S.W. Gemini Drive | |
| Exchange: NASDAQ-National Market | Beaverton, Oregon 97008 | |
| Industry: High-Tech | (503) 643-9281 |
| Type of Shares: | Common Shares | Filing Date: | 6/20/96 | |
| U.S. Shares: | 4,000,000 | Offer Date: | 10/18/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $7.00 - $9.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $9.50 | |
| Secondary Shares: | 2,000,000 | Gross Spread: | $0.67 | |
| Offering Amount: | $32,000,000 | Selling: | $0.38 | |
| Expenses: | $1,250,000 | Reallowance: | $0.10 | |
| Shares Out After: | 13,319,204 |
| Manager | Tier | Phone |
| Robertson, Stephens & Company | Lead Manager | (415) 989-8500 |
| Needham & Company | Co-manager | (212) 371-8300 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $14.07 | $14.36 | $9.74 | Assets: | $9.79 |
| Net Income: | -$3.15 | $1.02 | -$3.22 | Liabilities: | $8.06 |
| EPS: | -$0.26 | $0.09 | -$0.27 | Equity: | $1.73 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company provides graphical design and verification software tools to design and test software. The COmpany's products assist integrated circuit system, design and test engineers in meeting the market demands for rapid time to market, increased product functionality and lower product cost. Summit's graphical Systems Level Design Automation (SLDA) products enable IC systems and design engineers to create and verify IC designs using familiar graphical paradigms such as block diagrams, state machines, flow charts, or truth tables rather than the less intuitive textual hardware description language code required by synthesis and simulation tools. The Company's SLDA products automatically generate optimized HDL descriptions from graphical designs, eliminating time consuming and error prone manual entry of HDL code. The Company's Design to Test products provide graphical simulation test data creation, graphical simulation results analysis and automatic manufacturing test program generation. |
| Use of Proceeds |
| The proceeds from the offering will be used for working capital, repayment of debt and for general corporate purposes. |
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