| Ticker: KTTY | 1515 West 20th Street, P.O. Box 612787 | |
| Exchange: NASDAQ-National Market | Dallas, Texas 75261 | |
| Industry: Transportation | (214) 456-2200 |
| Type of Shares: | Common Shares | Filing Date: | 7/18/96 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 10/9/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,700,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 300,000 | Gross Spread: | $0.84 | |
| Offering Amount: | $39,000,000 | Selling: | $0.50 | |
| Expenses: | $665,000 | Reallowance: | $0.10 | |
| Shares Out After: | 10,450,000 |
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (718) 921-8473 |
| Alex. Brown & Sons Incorporated | Co-manager | (410) 727-1700 |
| Fieldstone FPCG Services, L.P. | Co-manager | (212) 692-3400 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 8/31/95 | 5/31/96 | 5/31/96 | |||
| Revenue: | $103.71 | $107.13 | Assets: | $61.98 | |
| Net Income: | $4.42 | $3.41 | Liabilities: | $38.69 | |
| EPS: | $0.55 | $0.43 | Equity: | $23.28 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is an air cargo management company. This involves same day delivery of heavy freight using third parties or its own cargo airline. The company's air freight service under contracts primarily with major freight forwarders in North America and the Pacific Rim. These contracts generally require the company to supply aircraft, crew, maintenance, and insurance and to meet certain on-time performance standards, while its customers are responsible for substantially all other operating expenses, including fuel. Additionally, Kitty Hawk is the leading provider of same-day air logistics charter services in the United States. Through use of its advanced, time-sensitive freight carriers and planes from the company's fleet that are not then committed to ACMI service. The company's total revenues have increased to $103.7 million in the fiscal year 1995 from $33.4 million in fiscal year 1991. During the same period, the company's owned aircraft fleet grew to 21 aircraft from 9 aircraft. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the acquisition and modification of five additional Boeing 727-200 aircraft and the repayment of indebtedness incurred for the acquisition and modification of two Boeing 727-200 aircraft. |
©1996 IPO Data Systems, Inc. - All rights reserved.