| Ticker: GOYL | 5866 South 194th Street | |
| Exchange: NASDAQ-National Market | Kent, Washington 98032 | |
| Industry: Manufacturing | (206) 872-6100 |
| Type of Shares: | Common Shares | Filing Date: | 7/3/96 | |
| U.S. Shares: | 2,857,145 | Offer Date: | 9/27/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 1,785,715 | Offer Price: | $16.00 | |
| Secondary Shares: | 1,071,430 | Gross Spread: | $1.12 | |
| Offering Amount: | $40,000,030 | Selling: | $0.67 | |
| Expenses: | $850,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,542,304 |
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (718) 921-8473 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $17.14 | $6.99 | $3.29 | Assets: | $19.85 |
| Net Income: | -$2.34 | -$0.02 | -$0.49 | Liabilities: | $26.91 |
| EPS: | -$0.38 | $0.00 | -$0.08 | Equity: | -$7.06 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company designs, manufactures and markets a broad line of performance and lifestyle oriented sunglasses. The company competes in the growing premium sunglass market by offering a diverse line of products at suggested retail prices of $80 to $190. The company seeks to distinguish Gargoyles brand products in the marketplace by combining innovative styling with its patented dual lens toric curve technology, which the company believes is the most advanced lens design currently available in wrap sunglasses. The company believes these features appeal not only to active sports enthusiasts who favor the performance and comfort features of its products, but also to consumers who appreciate Gargoyles' distinctive styling and innovative designs. In addition, the company recently acquired the Hobie sunglass line, a leading line of polarized sunglasses, which is one of the fastest emerging categories within the premium sunglass market. The company also offers a popular line of protective eyewear focused primarily on the medical and dental market segments. The company believes that the diversity of its product lines, combined with increasing awareness among consumers of the Gargoyles and Hobie brands and their unique attributes has positioned it to capitalize on the strong growth potential in the domestic and international premium sunglass markets. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to repay outstanding indebtedness; to fund start-up costs for the Timberland product line; and for working capital and other general corporate purposes. |
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